Spain, Morocco seek reset of testy relationship at Rabat summit

Spain, Morocco hold first summit in eight years Relations long strained by illegal migration issue Expected to sign up to 20 agreements on trade, investment RABAT, Feb 2 (Reuters) – Spain and Morocco have agreed to set aside their differences, Spanish Prime Minister Pedro Sanchez said on Thursday, as they seek to repair a relationship … Read more

US weekly jobless claims drop to nine-month low; productivity gains speed

Weekly jobless claims drop 3,000 to 183,000 Continuing claims decrease 11,000 to 1,655 million Productivity accelerates at a 3.0% rate in the fourth quarter Unit labor costs grow at 1.1% pace WASHINGTON, Feb 2 (Reuters) – The number of Americans filing new claims for unemployment benefits dropped to a nine-month low last week as the … Read more

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

Gulf markets mixed as Qatar falls, Dubai gains

Feb 2 (Reuters) – Qatar’s stock market was the worst performer among mixed Gulf bourses on Thursday amid volatile energy markets, while Dubai shares ended higher on a strong banking sector performance. The Qatari stock index (.QSI) dropped 0.9%, falling for a fourth consecutive session, with most of its constituent stocks in negative territory. Index … Read more

Asset managers, banks call on EU to cost plans to grab euro clearing from London

LONDON, Feb 2 (Reuters) – Asset managers, hedge funds and banks on Thursday called on the European Union to properly cost its plans to force market participants to shift derivatives clearing business from London to mandatory accounts in the bloc. London Stock Exchange Group’s LCH and ICE in London have long dominated parts of the … Read more

Analysis: Fed feeds Wall Street’s soft landing hopes, although recession fears still loom

Feb 2 (Reuters) – A more dovish-than-expected message from Federal Reserve Chairman Jerome Powell stands to further boost hopes of slowing rate hikes and a so-called economic soft landing that have fueled a powerful rebound in US stocks. For weeks, hopes that easing inflation and cooling growth will allow the Fed to pull back from … Read more

Rupee likely to open higher after Fed, local equities in focus

MUMBAI, Feb 2 (Reuters) – The Indian rupee is expected to open stronger on Thursday, as markets perceived the US Federal Reserve to be a bit dovish, with investors keeping an eye on domestic equities after late developments in the Adani saga. The rupee was seen around 81.70 per US dollar in early trades, compared … 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

Wall Street down but off session lows after Fed rate hike, trading choppy

Fed raises interest rates, sees “ongoing increases” Indexes down: Dow 0.96%, S&P 0.40%, Nasdaq 0.03% Feb 1 (Reuters) – US stock indexes were lower on Wednesday in choppy trade, bouncing off session lows hit when the Federal Reserve increased interest rates by a quarter of a percentage point and said it expects “ongoing increases” in … Read more