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by Daniel AVIS The dramatic implosion of Silicon Valley Bank (SVB) last week could bring the Federal Reserve’s current cycle of interest rate hikes to an end far sooner than many analysts expected. Traders and analysts who had previously predicted that the Fed would increase the pace of hikes to tackle inflation have now dialed back their expectations, with some saying the US central bank will hold its benchmark rate next week due to the […]
Tokyo, Sydney, Seoul, Singapore, Jakarta and Wellington all rose, but Hong Kong, Shanghai and Manila sank HONG KONG, China (AFP) — Asian markets were mixed Tuesday with confidence at a premium as traders contemplate the prospect of more Federal Reserve interest rate hikes and a possible recession. Wall Street suffered another day in the red after Friday’s capitulation in response to a warning from US central bank boss Jerome Powell that more tightening was needed […]
LONDON, United Kingdom (AFP) — World stocks mostly sank Monday and the dollar rallied on concern the Federal Reserve will stick to its interest rate-hiking plans to combat runaway inflation. Eurozone equities also tanked as spiking natural gas prices sparked fears that winter energy shortages could spark recession, helping push the euro back under parity against the greenback. Oil slumped on speculation over an Iran nuclear deal that could ease a supply crunch caused […]
MUMBAI, India (AFP) — The Indian rupee plunged to a record low against the dollar on Monday, ahead of an expected US interest rate hike this week aimed at fighting surging inflation. The rupee hit 78.2825 per dollar for the first time as a forecast-beating US inflation report on Friday heightened prospects for a further tightening of monetary policy by the Federal Reserve. The benchmark Sensex Index slid as much as 2.1 percent as […]
HONG KONG, China (AFP) — Asian markets and crude prices surged while the dollar sank Tuesday after the Federal Reserve unveiled an unprecedented bond-buying program to support the US economy. While most of the planet goes into lockdown, traders gave a massive thumbs up to the US central bank’s pledge to essentially print cash in a move not seen since the global financial crisis more than a decade ago. The Fed, which has already slashed […]
TOKYO, Japan (AFP) — Tokyo stocks turned down Thursday after three days of gains as investors found few fresh buying pegs after dovish signals from the US central bank. The Nikkei 225 index opened slightly higher as Wall Street stocks edged up, following cues from the Federal Reserve. But the Tokyo benchmark soon fell into negative territory and lost 0.27 percent or 58.93 points to 21,372.56 in the first 30 minutes of trade. The broader Topix […]
NEW YORK, United States (AFP) — Global stocks plunged Tuesday as a sharp downward trend in the technology sector hit valuations hard and the Dow gave up all its gains for the year. In Europe and Asia, there was much talk about the surprise arrest of Carlos Ghosn, boss of the Renault-Nissan-Mitsubishi alliance, and stocks in the three companies plunged, while Wall Street suffered a second big decline. Analysts at Capital Economics forecast the tech […]
by Heather SCOTT Agence France Presse WASHINGTON, United States (AFP) — No US economists believe the Federal Reserve will raise the all-important benchmark interest rate on Thursday but they are watching closely for any signals about how concerned the central bankers are about rising prices. With the economy growing strongly and wages at long last starting to increase after years of robust job creation, central bank officials are wary the economy could overheat. Investors will […]
NEW YORK, United States (AFP) — Most of the world’s stock markets pushed higher and the dollar rose Thursday as investors embraced the Fed’s view that the US economy is growing solidly but not at imminent risk of overheating. An exception was Milan, which faltered on worries about its fiscal profile, and Tesla Motors, which dived in after-hours trading on news US securities regulators have charged chief executive Elon Musk for fraud connected to an […]
HONG KONG, China (AFP) — Asian markets swung on Thursday as investors considered the prospect of more US interest rate hikes and Donald Trump’s latest broadside in his trade war with China. The US central bank lifted borrowing costs for the third time this year, as expected, citing an increasingly strong economy and jobs market, with governor Jerome Powell saying he saw no vulnerabilities in the financial system. The post-meeting statement removed mention of being […]
HONG KONG, China (AFP) — The dollar struggled Thursday in Asia following the previous day’s losses as dovish Federal Reserve minutes rowed back expectations for US interest rate hikes. While board members at the US central bank will likely lift borrowing costs next month, official records of their October meeting indicate some are increasingly concerned about persistently low inflation as well as high equity prices. The release of the minutes came after data showing a […]
MINSK, Belarus (AFP) — The United States aims to end its longest Fed Cup title drought when it meets a Belarus team missing former world number one and two-time Australian Open champion Victoria Azarenka in this weekend’s final. The 17-time champion US team claimed its last title in 2000 and has lost three finals since — to France in 2003 and Italy in 2009 and 2010. This time the team is missing the Williams sisters, who have […]
