Currencies

Exclusive-India pauses plans to buy U.S. arms after Trump's tariffs

NEW DELHI -New Delhi has put on hold its plans to procure new U.S. weapons and aircraft, according to three Indian officials familiar with the matter, in India's first concrete sign of discontent...

Instant View: Canada's economy sheds 40,800 jobs in July

Canada's economy shed 40,800 jobs in July and the jobless rate held steady at the multi-year high level 6.9%, Statistics Canada data showed on Friday. Market reaction: [CAD/]     ...

Japanese household spending rises in June; pace slowed by food prices

TOKYO -Japanese household spending rose in June at a slower rate than market participants had expected, showed government data on Friday, as higher prices particularly for food items discouraged...

Japanese investors dump foreign stocks, pile into bonds in July as yen weakens

Japanese investors sold foreign stocks for a third straight month in July, taking profits after a steep rally left valuations stretched, while channelling large sums into higher-yielding foreign...

South African rand flat as traders await tariff updates after Ramaphosa-Trump call

JOHANNESBURG -The South African rand was little changed on Friday as investors awaited details of President Cyril Ramaphosa's telephone call with his U.S. counterpart President Donald Trump on...

Trump moves to extend grip on Fed

A look at the day ahead in European and global markets from Rae Wee With U.S. President Donald Trump's nomination to fill a newly vacant seat at the Federal Reserve now out of the way,...

Dollar heads for weekly loss on dovish Fed expectations

The dollar firmed on Friday but was heading for a weekly fall as weakening economic data leads traders to price in the probability of more interest rate cuts this year, and as investors evaluate U.S....

Trump's Fed pick wanted to upend its protection from politics

WASHINGTON -Having railed against the revolving door between the executive branch and the U.S. Federal Reserve, Council of Economic Advisers Chair Stephen Miran may now be walking through it after...

Trump nominates Miran to temporarily serve on Fed board

U.S. President Donald Trump on Thursday nominated Council of Economic Advisors Chairman Stephen Miran to serve out the remaining term of Federal Reserve Governor Adriana Kugler. Trump...

Trump picks Stephen Miran to fill open spot on Fed Board

WASHINGTON -U.S. President Donald Trump on Thursday said he will nominate Council of Economic Advisers Chairman Stephen Miran to serve out the final few months of a newly vacant seat at the Federal...

Investors game out market reaction to Fed chair replacement favorites

NEW YORK -As U.S. President Donald Trump narrows his shortlist for the next Federal Reserve chair, investors and strategists are closely analyzing the range of possible market reactions to each...

India's Modi, Brazil's Lula speak amid Trump tariff blitz

BENGALURU/BRASILIA -Indian Prime Minister Narendra Modi and Brazil's President Luiz Inacio Lula da Silva spoke by phone on Thursday, their offices said, discussing a broad range of topics that...

Waller is favorite for Fed chair among Trump team, Bloomberg News reports

Federal Reserve Governor Christopher Waller is emerging as a top candidate to be the central bank's next chair,  Bloomberg News reported on Thursday, citing people familiar with the matter. ...

Brazil's fish industry, hit with a 50% US tariff, seeks a lifeline

SAO PAULO -Brazil's seafood industry is sounding the alarm to pressure the federal government for immediate relief as it grapples with mounting fears of job losses and bankruptcies as a result of the...

Rate Cut Hopes Propel European Markets Higher Despite New US Tariffs

Despite the implementation of new US tariffs, investors continued to snap up stocks on European exchanges. According to experts, persistent hopes for an interest rate cut by the US Federal Reserve in...

Japan cuts growth forecast on US tariffs drag, weaker consumption

TOKYO -Japan's government cut its growth forecast for this fiscal year on Thursday as U.S. tariffs slow capital expenditure and persistent inflation weighs on private consumption, threatening a...

Trump tariff salvo sees India central bank return to out-of-favour rupee derivative tool

MUMBAI, August 7 -The Reserve Bank of India has resumed intervention in the non-deliverable forwards market over the past fortnight to manage rupee volatility triggered by mounting trade tensions...

Currency Headwinds Weigh on Merck as Forecasts Are Cut Again

The pharmaceutical and technology group Merck KGaA continues to face headwinds from negative currency effects, prompting the company to lower its annual targets once more. In the second quarter,...

Wall Street mixed as oil prices decline for 6th session

NEW YORK/LONDON -Major Wall Street indexes were mixed on Thursday, with the Dow and S&P 500 ending lower, as European stocks closed at a one-week high on strong financial stocks and hopes of a...