Currencies

Russia, under war spending pressure, set for more austerity, tax hikes

MOSCOW -Moscow is preparing to raise taxes and cut spending as it tries to maintain high defence expenditure with Russia's economy creaking under the weight of financing the more than three-year war...

Tech angst on AI doubts

What matters in U.S. and global markets today By Mike Dolan, Editor-At-Large, Finance and Markets In markets, the trigger for sudden confidence swoons is often elusive,...

European Stock Markets Weaken as Investors Eye US Rates and Ukraine

No new record highs were set on the German stock market on Wednesday morning, with the DAX slipping 0.4 percent to 24,330 points. The DAX remains stuck in its sideways phase since June, always with...

Sterling edges up as inflation rises to highest in 1-1/2 years

LONDON -The British pound rose marginally against the dollar and euro on Wednesday after data showed inflation hit its highest in 18 months in July, with markets not fully pricing the next rate cut...

Fed dissenters appeared alone in favoring rate cut at July meeting, minutes show

WASHINGTON -The two Federal Reserve policymakers who dissented against the U.S. central bank decision's to leave interest rates unchanged last month appear not to have been joined by other...

BOJ governor Ueda to travel to Jackson Hole for Fed conference

TOKYO -Bank of Japan Governor Kazuo Ueda will travel to Jackson Hole from Thursday to join the U.S. Fed's annual conference in Wyoming, the Japanese central bank said on Wednesday. ...

Swedish central bank keeps key rate on hold, could still cut this year

STOCKHOLM -Sweden's central bank held its key interest rate at 2.00% as expected on Wednesday and said it still sees some probability of a further rate cut this year as it tries to balance...

Russia expects India to keep buying its oil and seeks China-India-Russia talks

NEW DELHI -Russia expects to continue supplying oil to India despite warnings from the United States, Russian embassy officials in New Delhi said on Wednesday, adding that Moscow hopes trilateral...

Oil flows resume to Hungary, Slovakia via Druzhba pipeline, officials say

Oil is once again flowing to Hungary and Slovakia via the Druzhba pipeline, officials from both countries said late on Tuesday, after a Ukrainian drone strike on an oil pumping station in Russia's...

Rupee edges lower as dollar sales by foreign banks offset most of greenback demand

The Indian rupee slipped on Wednesday, as corporate hedging and short-term speculators bolstered demand for the greenback, most of which was met by dollar sales by foreign banks. The...

Gold firms as dollar weakens, focus on Jackson Hole

Gold rose on Wednesday as the U.S. dollar eased, with market participants bracing for the upcoming Jackson Hole symposium, while minutes revealed that Federal Reserve dissenters appeared alone in...

Trading Day: Tech it down a notch

ORLANDO, Florida -TRADING DAY Making sense of the forces driving global markets By Jamie McGeever, Markets Columnist  Wall Street slumped on Tuesday,...

Fed's Bowman suggests allowing central bank staff to own small amounts of crypto products

WASHINGTON -The Federal Reserve's top regulatory official suggested on Tuesday that central bank staff should be permitted to own small amounts of crypto products, arguing experience would better...

Switzerland considers joining UK's 'dirty money' task force

LONDON -Switzerland is considering joining a British-led international task force targeting kleptocrats and recovering stolen assets, it said on Tuesday, as it seeks to shake off its reputation as a...

US housing starts tick higher in July, led by apartment construction

Groundbreaking for new U.S. single-family homes and permits for future construction ticked higher in July even as high mortgage rates and economic uncertainty continued to hamper home purchases,...

India suspends cotton import duty in signal to US, relief for garment industry

NEW DELHI -India has suspended an 11% import duty on cotton until September 30, in a move seen as a signal to Washington that New Delhi is willing to address U.S. concerns on agricultural tariffs,...

Sterling nudges higher against dollar, inflation data in focus

Sterling tracked the euro higher against the dollar on Tuesday as markets gauged the probability of a peace deal between Russia and Ukraine following encouraging diplomatic signals from a White House...

Foreign investors stock up on euro zone debt in June

FRANKFURT -Foreign investors added to their stock of euro zone debt in June, European Central Bank data showed on Tuesday, in a tentative sign the bloc was becoming more popular at a time of...

South African rand range-bound as markets await local inflation data, Fed signals

JOHANNESBURG -South Africa's rand was on the back foot for much of Tuesday's trading session as markets awaited the U.S. Federal Reserve's upcoming Jackson Hole symposium and inflation figures from...