Fed keeps rates steady, but sees more rate cuts for 2024
The Federal Reserve kept interest rates steady on Wednesday for the third straight meeting, and signaled deeper cuts for next year as inflation is expected to cool faster than initially anticipated. The Federal Open Market Committee, or FOMC, kept its benchmark rate at a more than two-decade high range of 5.25% to 5.50%.…
U.S. inflation slows to 3.1% in November
The U.S. inflation rate slowed slightly on a yearly basis as expected in November, in a key release that will likely factor into how Federal Reserve officials see interest rates evolving next year. Annual headline consumer price growth edged down to 3.1% last month, decelerating from 3.2% in October, according to data from…
Asia FX falls, yuan battered by China disinflation jitters; Dollar steady
Most Asian currencies fell on Monday, with the Chinese yuan among the worst performers after data pointed to a sustained deflationary trend in the country, while the dollar steadied in anticipation of a Federal Reserve meeting. The greenback saw some strength on Friday after a stronger-than-expected nonfarm payrolls reading, which dented expectations for…
Japan’s Q3 GDP falls faster than first estimates as consumption sags
TOKYO (Reuters) -Japan’s economy fell faster than first estimated in the third quarter, revised data showed on Friday, as the household sector faced growing headwinds, complicating the central bank’s efforts to phase out its accommodative monetary policy. Consumer and business spending both shrank, driving down third-quarter gross domestic product (GDP). Separate data showed…
Asian stocks sink on China weakness, Nikkei slides as BOJ talks pivot
Most Asian stocks fell on Thursday as persistent concerns over a Chinese economic slowdown kept sentiment dull, while Japanese stocks fell sharply as Bank of Japan Governor Kazuo Ueda discussed options for a potential pivot from negative interest rates. Investors were also awaiting key U.S. labor market readings to gauge when the Federal…
Dow futures steady, Box sheds 11.7% after earnings
US stock futures were trading mostly flat on Tuesday evening, marking a second consecutive day of decline for the S&P 500 and the Dow Jones Industrial Average. By 6:30 pm ET (11:30 pm GMT) Dow Jones Futures and S&P 500 Futures remained flat while Nasdaq 100 Futures ticked 0.1% lower. In extended deals,…
Oil prices inch up from near 5-mth lows as Middle East risks persist
Oil prices rose in Asian trade on Tuesday as focus remained on a potential escalation in the Israel-Hamas conflict, although disappointing OPEC+ cuts and strength in the dollar kept crude trading near five-month lows. Fears of a potential escalation in the Israel-Hamas conflict came back into play after the U.S. held Iran responsible…
US dollar gains but set for worst monthly loss in a year, euro falls
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) -The dollar gained on Thursday as investors took profits on bets the currency would weaken further and shrugged off data showing signs the U.S. economy is slowing. Thursday’s economic data suggested that the Federal Reserve is likely done raising interest rates and may start easing by the…
Dollar rises from 3-1/2-month low; rate cut bets intact
By Gertrude Chavez-Dreyfuss and Herbert Lash NEW YORK (Reuters) – The dollar climbed from more than three-month lows on Wednesday after data showing the U.S. economy grew faster in the third quarter than initially reported helped investors consolidate positions following four days of losses. The greenback rose against the euro and an index…
Euro profits from better euro zone data; U.S. market shut
By Amanda Cooper LONDON (Reuters) -The euro edged up on Thursday after data suggested the downturn in the euro zone economy may be starting to ease, although holidays in the U.S. and Japan kept trading activity muted. With markets shut in Japan and the U.S. for Thanksgiving holidays, currencies traded with some volatility,…
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