Wall Street wobbles to mixed close, Treasury yields inch higher as Powell concludes testimony
NEW YORK, March 8 (Reuters) – The S&P 500 ended an indecisive session with a nominal increase and Treasury yields edged up on Wednesday as a spate of economic data appeared to support Federal Reserve Chairman Jerome Powell’s reassertion, in his second day of congressional testimony, that the central bank would continue to ratchet up […]
Ex-BOJ gov Shirakawa urges re-examination of monetary framework, inflation targets
TOKYO, March 2 (Reuters) – Former Bank of Japan (BOJ) Governor Masaaki Shirakawa called on policymakers to reconsider central banks’ monetary framework based on inflation targets, given their limits that became apparent from the recent spike in prices seen in many countries.Before the recent spike in inflation, many central banks in advanced economies were “overwhelmingly” […]
Dollar slips after recent gains, recent uptrend intact
U.S. durable goods orders drop in January, weighs on dollarU.S. pending home sales rise; dollar sell-off persistsSterling, euro up sharplyNEW YORK, Feb 27 (Reuters) – The dollar fell from a seven-week high on Monday, tracking a slide in U.S. Treasury yields, as investors consolidated gains after the greenback’s recent rise and looked ahead for the […]
Wall St gets respite from positive data, dollar pullback
Stocks edge up, bond yields retreatDollar pulls back after biggest weekly rally since SeptemberHigher peak seen for Fed ratesPositive U.S. manufacturing, home sales dataFeb 27 (Reuters) – Wall Street and global shares rebounded modestly on Monday on favorable economic data and bargain hunting, but remained within sight of recent six-week lows, as investors prepared for […]
Dollar index hits seven-week high on higher-for-longer U.S. rates
LONDON, Feb 23 (Reuters) – The dollar index rose to its highest in nearly seven weeks on Thursday, a day after minutes from the Federal Reserve’s last policy meeting that supported, but did not add to markets’ view the central bank will raise rates further.The index , which tracks the greenback against six major peers […]
Japan’s factory activity shrinks at fastest pace in 2-1/2 years
TOKYO, Feb 21 (Reuters) – Japan’s manufacturing activity contracted at the fastest pace in 30 months in February, a business survey showed on Tuesday, in a worrying sign for the world’s third-largest economy, which is facing weakening demand and struggling to tame cost pressures.The au Jibun Bank flash Japan manufacturing purchasing managers’ index (PMI) fell […]
Global shares sink, dollar soars on rate-hike outlook
LONDON, Feb 17 (Reuters) – Stock markets dropped across the globe on Friday and the dollar leapt to six-week highs as jobs data revived expectations the U.S. central bank would stick to its monetary tightening path.Data from the U.S. Labor Department overnight showed monthly producer prices had accelerated in January and the number of Americans […]
Japan’s weak Q4 GDP rebound poses challenge for BOJ’s exit path
Japan Q4 GDP expands annualised 0.6% vs f’cast +2.0%Drop in capex, inventory behind weaker-than-expected reboundData underscore view Japan making delayed recovery from pandemicOutlook on growth, wages key to how soon BOJ exits easy policyTOKYO, Feb 14 (Reuters) – Japan’s economy averted recession but rebounded much less than expected in the fourth quarter as business investment […]
Morning Bid: Powell confesses ‘This time it’s different’
A look at the day ahead in U.S. and global markets from Mike Dolan.Jerome Powell calmed the horses, a bit.In attempting to parse last week’s blockbuster January jobs report, the Federal Reserve Chair on Tuesday reprised his take from last Wednesday’s policy meeting – essentially that another couple of Fed rate hikes were probably needed […]
Global shares slide as interest-rate risk rises and geopolitics heat up
U.S. stock futures slip, European shares dropYen skids as market eyes possible BOJ governorInvestors ponder U.S. rates with host of Fed speakers dueLONDON, Feb 6 (Reuters) – Global shares slipped on Monday, after a run of upbeat economic data suggested interest rates will have to rise further and stay higher for longer, while a stronger […]