Currencies

South African rand gains as parliamentary committee backs budget

JOHANNESBURG -The South African rand maintained early gains on Wednesday after a key parliamentary committee backed the long-delayed national budget, which has been tied up in political wrangling for...

Safe-haven gold rises on weak data, simmering uncertainty

Gold rose 1% on Wednesday, supported by a softer dollar and weak U.S. data, as investors grappled with mounting economic and political uncertainty. Spot gold climbed 0.8% to $3,378.22 an...

Russian services sector sees fastest growth since January in May, PMI shows

Russia's services sector expanded in May at the quickest pace since January, driven by stronger demand and new orders, even as firms reduced their workforce numbers, a business survey showed on...

Japan must pursue payment innovation as society becomes cash-less, BOJ official says

TOKYO -Japan currently has no plan to issue a central bank digital currency but must continue innovating its payment and settlement system in an increasingly cash-less society, a senior central bank...

Japan's ruling coalition partner to propose sales tax cut on food, Yomiuri reports

TOKYO -Japan's junior ruling coalition partner, Komeito, will propose cutting the consumption tax rate for food items to 5% from 8% in a campaign pledge for the upper house election slated in July,...

Fed officials beat the policy patience drum as tariff uncertainty persists

NEW YORK -Federal Reserve officials on Tuesday argued again for caution on monetary policy as President Donald Trump's trade war continues to inject substantial amounts of uncertainty and the risk of...

NY Fed flags $1.06 trillion unrealized loss on bond holdings in 2024

NEW YORK -The Federal Reserve saw $1 trillion in unrealized losses on its holdings last year, according to a report released Tuesday by the Federal Reserve Bank of New York. The bank...

TSX extends record-setting run as higher oil prices add to market's appeal

Canada's main stock index edged up to a new record high on Tuesday, led by gains for the energy sector, as oil prices climbed and uranium producers notched gains. The Toronto Stock...

Indian rupee, bonds set to be among top three Asian beneficiaries of foreign inflows, BofA Sec exec says

MUMBAI -Indian markets will likely be among the top three in Asia to attract foreign inflows once tariff-related uncertainties ease, with the rupee and local currency-denominated bonds benefiting the...

FX options market positioned for further dollar weakness

NEW YORK -The U.S. dollar has steadied after a sharp tumble this year but traders in the foreign exchange options market are positioned for the U.S. currency to weaken further amid growing concern...

South African rand weakens after data shows GDP stagnates in first quarter

JOHANNESBURG -The South African rand weakened on Tuesday after first-quarter gross domestic product data came in marginally better than expected but showed that the economy had stagnated. ...

US skips hike in UK steel and aluminum tariffs as both countries eye quick trade deal

LONDON/WASHINGTON -The United States on Tuesday announced it would skip doubling steel and aluminum tariffs for Britain, hours after the UK government said the two countries agreed on the need to...

Bank of Canada to hold rates at 2.75% but cut at least twice more this year

The Bank of Canada will hold interest rates at 2.75% on Wednesday as policymakers await further news on an economy that grew faster than expected last quarter, with at least two more cuts likely this...

Sterling firms with focus on defence plan, weaker dollar

Sterling had a firm start to the week on Monday, as investors assessed a domestic defence plan and a batch of better-than-expected British economic data, while simmering trade tensions between the...

South African rand shrugs off mixed local data

JOHANNESBURG -The South African rand strengthened against a weaker dollar on Monday, shrugging off a further decline in local manufacturing sentiment and upbeat vehicle sales figures. ...

Russian manufacturing sector returns to growth in May, PMI shows

Russia's manufacturing sector returned to growth in May, supported by a fresh upturn in new orders, even as output contracted for the third month running amid reports of supply shortages, a business...

US debt is 'sound', no concerns about US dollar's reserve role, Taiwan's central bank says

TAIPEI -Taiwan's central bank said on Sunday that U.S. government debt is sound and still favoured by investors, and there are no worries about the U.S. dollar's position as the leading international...

Canada's economy grows by 2.2% annualized rate in first quarter

TORONTO -Canada's economy grew faster than expected in the first quarter, expanding by a 2.2% annualized rate, data showed on Friday.     Market reaction: CAD/ LINK:...

US consumers pulling back spending; inflation slowing for now

WASHINGTON -U.S. consumer spending increased marginally in April, with households opting to boost savings amid mounting economic uncertainty because of a constantly changing tariff landscape. ...