Tag: ECO
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Turkey’s Erdogan signals economic U-turn in picking orthodox Simsek
Erdogan begins new five-year term after runoff win Unorthodox rate cuts had exacerbated cost-of-living crisis Economy under deep strain, Simsek seen reversing course ANKARA, June 3 (Reuters) – President Tayyip Erdogan signalled on Saturday his newly-elected government would return to more orthodox economic policies when he named Mehmet Simsek to his cabinet to tackle Turkey’s ... -
Wall St Week Ahead: Surging US megacap stocks leave some wondering when to cash out
NEW YORK, June 2 (Reuters) – As the U.S. stock market continues its climb, investors holding shares of the massive tech and growth companies leading the charge are debating whether to cash out or stay on for the ride. A record $8.5 billion flowed into tech stocks in the latest week, data from BofA Global ... -
Nigeria’s central bank auctions FX at 645 naira, weaker than spot rate
ABUJA, June 2 (Reuters) – Nigeria’s central bank has sold the dollar at 645 naira at its latest auction, results showed on Friday, lower than 465 naira where the currency is trading on the official secondary market. Nigeria operates multiple exchange rates, which the central bank has used to manage demand, mask pressure on the ... -
Argentina doubles China currency swap access to $10 bln
BUENOS AIRES, June 2 (Reuters) – Argentina has signed a deal to renew its currency swap line with China and double the amount it can access to near $10 billion, the South American country’s central bank said in a statement on Friday, a boost to its dwindling foreign currency reserves. The bank said that the ... -
Brazil’s central bank chief opposes creation of common currency
BRASILIA, June 2 (Reuters) – Brazil’s central bank chief Roberto Campos Neto expressed his opposition on Friday to the creation of a common currency, stating that in the era of digitalization it is unnecessary to have a shared currency for its purported benefits. “That is a very old idea that solves a problem that doesn’t ... -
European shares log best day in two months; Swedish real estate stocks jump
US hiring rises in May; unemployment rate jumps Lululemon results boost Adidas, Puma SBB jumps after new CEO appointment June 2 (Reuters) – European shares clocked their best one-day gain on Friday as investors took comfort from easing euro zone inflation, the passing of the U.S. debt bill, and growing evidence supporting the case for ... -
RBA to hold rates at 3.85% in June, but may raise again soon
BENGALURU, June 2 (Reuters) – Australia’s central bank will keep its key interest rate unchanged at 3.85% on Tuesday despite inflation well above the target range, according to a Reuters poll of economists who were divided on when and where rates would peak this year. The Reserve Bank of Australia (RBA) raised rates last month ... -
Oil prices rise as Congress approves US debt ceiling bill
[1/2] A tug boat pushes an oil barge through New York Harbor past the Statue of Liberty in New York City, U.S., May 24, 2022. REUTERS/Brendan McDermid BEIJING, June 2 (Reuters) – Oil prices rose on Friday amid bullish sentiment following the passage of a U.S. debt ceiling bill in Washington, while markets weighed the ... -
Asian shares rise on debt bill progress, Fed pause hopes
SINGAPORE, June 2 (Reuters) – Asian stocks surged on Friday as the progress on the bill to raise U.S. debt ceiling and increasing hopes that the Federal Reserve might stand still on interest rates in its next meeting helped perk up investor appetite for risky assets. The U.S. Senate is on track to pass a ... -
Morning Bid: Hot, cold and skipping a beat
A look at the day ahead in U.S. and global markets from Mike Dolan If the Federal Reserve does skip raising interest rates this month it’s probably because it is as confused as everyone else about the health of the U.S. economy as June kicks off. Like a patient with a virus, incoming data appears ...
