By Iain Withers LONDON (Reuters) -The dollar was pinned near three-month lows against a basket of major currencies on Monday, as bets on a robust global economic recovery continued to support currencies seen as riskier. The dollar index hovered around the 90 mark, down 0.2% on the day and close to a three-month low of 89.646 hit on Friday. The greenback, seen as a safe-haven trade, has steadily retreated over the…
By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) – Cryptocurrencies fought back on Monday, retaking ground lost during a bout of weekend selling that was fuelled by further signs of a Chinese crackdown on the emerging sector. Bitcoin jumped more than 10% to $38,538, erasing losses of 7.5% from a day earlier but still down by more than 40% from last month’s record high. Second-largest cryptocurrency ether jumped more than…
(Reuters) – Wall Street’s main indexes opened higher on Monday as higher oil prices lifted energy stocks, while investors geared up for key inflation readings later this week. The Dow Jones Industrial Average rose 46.0 points, or 0.13%, at the open to 34253.87. The S&P 500 rose 14.3 points, or 0.34%, at the open to 4170.16, while the Nasdaq Composite rose 86.2 points, or 0.64%, to 13557.212 at the opening bell.
MELBOURNE (Reuters) – Oil prices were little changed in early trade on Thursday, sitting near multi-week lows hit overnight on worries about fuel demand due to a patchy U.S. economic recovery. U.S. West Texas Intermediate (WTI) crude (CLc1) futures inched up 3 cents, or 0.1%, to $41.54 a barrel at 0115 GMT, while Brent crude (LCOc1) futures slipped 7 cents, or 0.2%, to $44.36 a barrel. Both benchmark contracts…
By Mike Murphy 9 Economists and former Fed officials argue Trump nominee is unfit, too partisan Email icon Facebook icon Twitter icon Linkedin icon Flipboard icon Print icon Resize icon More than 100 economists, including at least seven Nobel winners, have signed an open letter urging the Senate to reject Federal Reserve nominee Judy Shelton, calling her views “extreme and ill-considered.” Shelton was nominated for the Fed’s seven-member board…
By Alwyn Scott NEW YORK (Reuters) – Asian equities were set to open higher on Thursday after stronger U.S. economic data and the prospect of additional U.S. stimulus prompted sharp, and broader, gains on Wall Street, while the dollar extended its upward move. Investors in Asia await readings on services activity in China and Japan, which are expected to show continued expansion in China, and possibly a move out…
By Stanley White TOKYO (Reuters) – The dollar traded near the highest in more than two months versus the yen on Monday ahead of a U.S. Federal Reserve meeting this week where policymakers are expected to cut interest rates but emphasize their reluctance to ease policy further. Sterling edged lower versus the dollar and the euro, with an agreement expected later on Monday to delay Britain’s divorce from the…
(Bloomberg) — Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Pocket Cast or iTunes. “How much?” That was the greeting that bank tellers gave to clients at one teller window on Friday morning in downtown Buenos Aires. In the last day that Argentines had to pull dollar deposits or buy greenbacks with their devalued pesos, lines were visible outside several branches…
Investing.com – The pound was lower on Friday as confusion over whether or not the U.K. will leave the European Union next week continued, as the EU failed to reach an agreement on a Brexit extension. The U.K. had asked the EU for an extension. U.K. lawmakers voted in principle for a Brexit deal on Tuesday but pushed against Prime Minister Boris Johnson’s timetable for passing a Brexit deal…
Bond investors in China have a seemingly unquenchable thirst for government bonds, but the latest sell-off might appear that the well for sovereign debt has run dry. However, one market expert feels this is an opportune time to buy into Chinese debt for their attractive valuations. Per a Bloomberg report, the “yield on benchmark 10-year sovereign debt is up 20 basis points since a three-year low on Sept. 6, ranking…
