Most Asian currencies rose on Thursday, recovering a measure of recent losses as the dollar saw some profit taking, with the won appreciating sharply even as the Bank of Korea held interest rates after 18 months of hikes. The South Korean won rose 0.6% and was the best-performing Asian currency for the day, even as […]
Taiwan’s exports in January likely fell for the fifth month in a row amid fears of a global recession, uncertainties due to the war in Ukraine, and the COVID situation in China impacting tech demand, according to a Reuters poll. Taiwan, a global hub for chip production and a key supplier to Apple Inc (NASDAQ:AAPL), […]
The Chinese economy grew at a slower pace in the fourth quarter of 2022, data showed on Tuesday, as disruptions caused by the country’s now relaxed zero-COVID policy weighed heavily on business activity, although the reading still beat expectations. Chinese gross domestic product (GPD) grew at an annualized rate of 2.9% in the three months […]
The U.S. dollar edged lower in early European trade Friday, continuing the previous session’s selloff after cooling U.S. inflation opened the way for the Federal Reserve to ease the pace of its interest rate hikes. At 03:05 ET (08:05 GMT), the US Dollar Index, which tracks the greenback against a basket of six other currencies, […]
Oil prices were muted on Thursday, cutting short a three-day rally after data highlighted growing economic cracks in major crude importer China, while markets also speculated over whether the OPEC’s last meeting for the year will result in a supply cut. Chinese manufacturing activity- a bellwether for the economy- weakened substantially in November, official and […]
The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) unanimously decided on Wednesday to raise the benchmark policy rate by 50 basis points, bringing the repo rate to 4.90 percent, following a surprise rate hike in an off-cycle meeting in May. As a result, the standing deposit facility (SDF) rate has […]
When the Federal Reserve tightens, the Reserve Bank of India tries to defend its currency once more. Analysts expect it to launch a more limited defense this time, geared at fighting off the worst of speculative attacks rather than drawing a line in the sand when global capital flows are shifting and the Fed is […]
On Tuesday, oil prices fell more than 1%, continuing the previous day’s severe drop, as coronavirus lockdowns in China’s main oil importer, a strong dollar, and mounting recession threats fueled concerns about global demand. After falling as low as $103.19, Brent crude slid $1.31, or 1.2 percent, to $104.63 at 0216 GMT. After touching an […]
India’s product exports increased by 24.2 percent year on year in April to $38.2 billion, the third-highest level ever, because of rising commodity prices despite the ongoing Russia-Ukraine conflict, according to preliminary trade data issued by the commerce ministry on Tuesday. The previous month had seen $42.2 billion in outbound shipments, which was a new […]
According to a poll, the Reserve Bank of India will raise its repo rate in June, and at a faster rate than forecast just a few weeks ago, as rising inflation puts pressure on the central bank to move sooner. Retail inflation increased to nearly 7% in March, exceeding the central bank’s goal range of […]
