Currencies

Fed's Powell says dollar swap lines remain important tool

NEW YORK -Federal Reserve Chair Jerome Powell said Tuesday the U.S. central bank has no plans to change how it offers dollar liquidity to other official entities.  Speaking on the...

Russia launches accounts with withdrawal guarantees for foreign investors

MOSCOW -Russia has launched a new type of investment account that contains withdrawal guarantees, according to a decree signed by President Vladimir Putin on Tuesday, as Moscow looks to attract...

US construction spending falls again in May

WASHINGTON -U.S. construction spending fell in May as higher mortgage rates and rising inventory weighed on single-family housing projects.  The Commerce Department's Census Bureau...

Fed rate cut bets rise after Powell doesn't rule out July 

Financial market bets rose that the Federal Reserve could start interest-rate cuts as soon as this month after Fed Chair Jerome Powell, asked if July was too soon to consider rate cuts, said he can't...

Powell reiterates Fed will wait for more data before cutting rates

SINTRA, Portugal -U.S. Federal Reserve Chair Jerome Powell on Tuesday reiterated the U.S. central bank plans to wait and learn more about the impact of tariffs on inflation before lowering interest...

Euro zone factory orders stabilise for first time in 3 years, PMI shows

LONDON -Euro zone manufacturing activity showed further signs of recovery in June as new orders stopped falling for the first time in more than three years, suggesting a tentative stabilisation in...

Former RBNZ Acting Governor Spencer appointed to central bank's board

Former Reserve Bank of New Zealand Acting Governor Grant Spencer has been appointed to the central bank's board for a five-year term, effective July 1, Finance Minister Nicola Willis said on...

Dollar pares losses against euro and Swiss franc after better-than-expected US jobs data

NEW YORK -The U.S. dollar gained ground against major currencies including the yen and the Swiss franc on Tuesday after data showed a better-than-expected increase in labor market demand, indicating...

White House says Trump wrote Powell to urge lower rates

WASHINGTON -U.S. President Donald Trump wrote Fed Chair Jerome Powell urging him to lower interest rates, White House press secretary Karoline Leavitt told reporters on Monday. Leavitt,...

Trump administration eyes Fed vacancy in early 2026 to appoint Powell successor, Bessent says

The Trump administration is considering using the next expected Federal Reserve Board of Governors vacancy in early 2026 for appointing a successor to central bank Chair Jerome Powell, Treasury...

The euro's big beautiful moment    

LONDON -What matters in U.S. and global markets today Investors are keeping a wary eye on the progress of President Donald Trump's One Big Beautiful U.S. tax-cutting and spending bill...

DAX Opens Higher as Investors Eye Trade Talks

The prospect of trade agreements with the United States is boosting confidence among DAX investors. Germany's benchmark index rose by 0.3 percent to 24,111 points at Monday's opening. Shortly...

French minister calls for extension of EU-US trade talks

PARIS -France's finance minister has called for extending EU-U.S. trade talks beyond the July 9 deadline in order to secure a better agreement. U.S. President Donald Trump has set the...

World economy faces 'pivotal moment', central bank body BIS says

LONDON -Trade tensions and fractious geopolitics risk exposing deep fault lines in the global financial system, central bank umbrella body the Bank for International Settlements, said in its latest...

Fed says banks can withstand economic downturn, clears way for dividend hikes

WASHINGTON -Twenty-two of the largest banks in the U.S. are well-positioned to weather a hypothetical severe economic downturn and continue lending, with firms maintaining robust capital levels even...

Summertime data to pave way for Fed rate cuts, or further conflict with Trump

WASHINGTON -An unexpected pickup in underlying inflation last month nudged price pressures further from the Federal Reserve's 2% target, putting this summer's data in the spotlight for whether the...

US consumer spending falls; tariff-related boost to inflation awaited

WASHINGTON -U.S. consumer spending unexpectedly fell in May as the boost from the pre-emptive buying of goods like motor vehicles ahead of the Trump administration's tariffs faded, while monthly...

Dollar question hovers over top central bankers meeting in Sintra

FRANKFURT -A million-dollar question will hang over the world's top central bankers when they meet in Sintra, Portugal, next week: Is the monetary system centred on the U.S. currency beginning to...

S&P 500, Nasdaq hit record closing highs amid trade negotiations, rate cut bets

NEW YORK -Wall Street extended its rally on Friday, sending S&P 500 and Nasdaq to all-time closing highs as trade deal hopes fueled investor risk appetite and economic data helped solidify...