Analysis: Currencies

EU countries reach deal on new defence funding programme

BRUSSELS -European Union governments have reached an agreement on a 1.5 billion-euro EU scheme to fund defence investments, although some complained that its 'buy European' provisions are too...

Trump knocks Fed's Powell, muses about appointing himself to lead central bank

WASHINGTON -U.S. President Donald Trump on Wednesday knocked Federal Reserve Chair Jerome Powell for what he expected would be a decision not to lower interest rates and said the man he put in the...

US-Canada deal prospect offers hope but inflation a worry if tariffs remain, says BoC

The Bank of Canada Governor Tiff Macklem said on Wednesday that the prospect of a new Canada-U.S. trade deal offers hope that tariffs will be removed, but cautioned that inflation could rise if...

US weekly jobless claims, housing data point to softening economic activity

WASHINGTON -The number of Americans filing new applications for unemployment benefits fell last week, but stayed at levels consistent with a further loss of labor market momentum in June and...

Exclusive-Russia's Sberbank warns of economy overcooling, says key rate below 15% would spur growth

ST PETERSBURG -The Russian economy could cool down excessively due to high interest rates and may face difficulties returning to a growth path, Alexander Vedyakhin, First Deputy CEO of Russia's...

Gloom pervades ahead of Fed meet's outcome

A look at the day ahead in European and global markets from Rae Wee Markets head into Wednesday's Federal Reserve rates decision with much uncertainty around the global economy, trade...

China's forex regulator vows to fend off external shocks

SHANGHAI -China's foreign exchange regulator on Wednesday vowed to keep the yuan exchange rate basically stable and fend off external shocks and risks. Speaking at the Lujiazui Forum in...

Japan manufacturers' confidence dips in June on tariffs, China woes

TOKYO -Japanese manufacturers grew less confident about business conditions in June and expressed caution about the outlook for the next three months, citing U.S. tariff uncertainties and weak...

US tariffs, tax hikes to depress UK growth this year and next, CBI forecasts show

LONDON -One of Britain's leading business groups on Wednesday slashed its forecast for economic growth in 2025 and next year due to headwinds from U.S. President Donald Trump's tariffs and an...

Fed announces meeting to discuss easing bank leverage rules

WASHINGTON -The Federal Reserve will consider plans to ease leverage requirements on larger banks at a meeting later this month, kicking off what is expected to be a broad effort to reconsider bank...

Russian Sibur doubles LPG loadings from Ust-Luga, resumes supply to India

MOSCOW -Sibur, Russia's largest producer and exporter of liquefied petroleum gas , has doubled LPG loadings through the Baltic port of Ust-Luga in January-May 2025 compared to the same period in 2024...

Fed policymakers meet as new data raises growth concerns, geopolitical risks rise

WASHINGTON -Federal Reserve officials met on Tuesday armed with new economic data that could give more weight to their concerns that Trump administration policies, or at least the intense uncertainty...

Currencies: On the brink

The dollar fell sharply again last week against the major G10 currencies, and it took Israel's surprise attack on Iran to give it some respite. But will that be enough to prevent it from plunging...

Philippine central bank to cut key rate on June 19 to support economic growth

BENGALURU -The Philippine central bank is expected to cut its key interest rate again on Thursday as slowing inflation allows it room to support the domestic economy amid weaker growth, a Reuters...

South African rand subdued on risk-off mood, economic data eyed

JOHANNESBURG -The South African rand was down marginally on Tuesday, despite fragile risk sentiment driven by the Israel-Iran conflict, and ahead of key domestic economic data on Wednesday. ...

Asian bonds draw biggest foreign inflows in nearly a decade in May

Foreign investments in Asian bonds hit a near-10 year high in May, driven by a weaker dollar, concerns over U.S. fiscal risks, and expectations of rate cuts in regional economies. ...

Ghana has lost $11 billion to gold smuggling, links to UAE, report finds

DAKAR -Ghana is losing billions of dollars in revenue annually to smuggling from its booming artisanal gold mining sector with much of the gold flowing to the United Arab Emirates, according to a...

Kenyan shilling flat versus dollar, LSEG data shows

NAIROBI -The Kenyan shilling held steady against the dollar on Monday, data from London Stock Exchange Group showed. At 0740 GMT, commercial banks quoted the shilling at 129.00/129.50,...

Fed to release 2025 bank stress test results on June 27

WASHINGTON -The Federal Reserve announced on Friday that it would publish the 2025 results of its annual big bank stress tests on June 27. The U.S. central bank conducts the test each...