Euro dips as ECB meets market expectations

NEW YORK, Feb 2 (Reuters) – The euro dipped against the dollar on Thursday after the European Central Bank (ECB) hiked interest rates by a widely expected 50 basis points and offered no new hawkish surprises, while the Bank of England (BofE) adopted a more dovish tone on inflation. The ECB penciled in at least … Read more

Canadian lawmakers back resettlement of 10,000 Uyghur Muslims

OTTAWA, Feb 1 (Reuters) – The Canadian parliament on Wednesday unanimously voted in favor of a non-binding proposal for the resettlement of 10,000 Uyghur Muslim refugees from China’s Xinjiang region into Canada over two years. The House of Commons voted 322-0 for Liberal member of parliament Sameer Zuberi’s bill, which also called on the government … Read more

Philippines grants US greater access to bases amid China concerns

Philippines, US agree to add four locations under EDCA The agreement comes amid tensions in the South China Sea, over Taiwan EDCA allows US access to Philippine military bases MANILA, Feb 2 (Reuters) – The Philippines has granted the United States expanded access to its military bases, the countries said on Thursday, amid mounting concern … Read more

Morning bid: Markets go all in for disinflation

SYDNEY, Feb 2 (Reuters) – A look at the day ahead in European and global markets from Wayne Cole. Push back? What push back? The main theme ahead of the Fed announcement was that Chair Jerome Powell would definitely, totally, absolutely push back against the recent rapid easing in market conditions given inflation was still … Read more

Dollar falls to nine-month low as Powell notes progress in disinflation

NEW YORK, Feb 1 (Reuters) – The dollar extended losses on Wednesday and fell to a nine-month low against a basket of currencies after Federal Reserve Chair Jerome Powell spoke of making progress in bringing down inflation pressures, even as the US central bank warned of further monetary policy tightening. Powell, speaking in a news … Read more

Asian shares jump, dollar eases after Powell comments

SINGAPORE, Feb 2 (Reuters) – Asian stocks jumped on Thursday while the dollar eased after Federal Reserve Chair Jerome Powell said a “disinflationary” process was underway, boosting risk appetite and hope that the US central bank will soon end its monetary tightening streak. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.84% ​​higher, … Read more

Stocks firm, dollar on edge ahead of Fed decision

US wage growth moderates, Wall Street rallies MSCI AxJ index up 0.6%; dollar flat All eyes on 1900 GMT Fed announcement SINGAPORE, Feb 1 (Reuters) – Asia’s stock markets steadied on Wednesday, with signs of a slowdown in US wages bolstering hopes that the Federal Reserve could hint at an end to interest rate hikes … Read more

South Korea Jan exports plunge, trade deficit at record

SEOUL, Feb 1 (Reuters) – South Korean exports in January fell for a fourth consecutive month in annual terms, dropping faster than expected despite China’s reopening from long lockdowns as global demand cooled rapidly, data showed on Wednesday. Exports by Asia’s fourth-largest economy fell 16.6% in January from a year earlier, the trade ministry data … Read more

TikTok CEO to testify before US Congress over security concerns

WASHINGTON, Jan 30 (Reuters) – TikTok Chief Executive Shou Zi Chew will appear before the US Energy and Commerce Committee in March, as lawmakers scrutinize the Chinese-owned video-sharing app. Chew will testify before the committee on March 23, which will be his first appearance before a congressional committee, said Representative Cathy McMorris Rodgers, the Republican … Read more

Europe’s luxury stocks have room to rise, but are becoming costly

LONDON, Jan 31 (Reuters) – Europe’s glittering luxury companies, the region’s top stock-market performers in 2023, may see yet more gains driven by a rebound in Chinese spending, but for some the sector is starting to look expensive. The likes of French luxury giant and Louis Vuitton-owner LVMH, and Swiss jewelry company Richemont (CFR.S), have … Read more