US Dollar Forecast: Pullback in US Yields Hampers DXY Index, USD/JPY
The US Dollar (via the DXY Index) has begun to carve out a range after reaching a fresh yearly high last week.
Indian Shares Rise as Automakers Enjoy Best Day in over 2Y
BENGALURU, June 23 Reuters Indian shares bucked a broader downturn on Thursday as weak metal and oil prices drove beatendown automakers to their best day since April 2020. The NSE Nifty 50 index rose 0.93 to 15,556.65, while the SP BSE Sensex climbed 0.86 to 52,265.72. The indexes have added around 1.7 so far this week, after […]
Dollar Languishes as Recession Fears Mount; Yen Bounces
TOKYO, June 23 Reuters The U.S. dollar remained under pressure on Thursday as it looked set to extend declines against major peers to a fourth day, hurt by Treasury yields wallowing near twoweek lows amid rising concerns of a recession. The safehave yen bounced, climbing back from 24year lows to the dollar. The risksensitive Australian […]
EUR, JPY higher, AUD, USD lower as Powell warns about Recession; preliminary PMIs
Rates as of 0500 GMT Market Recap The focus yesterday was squarely on Fed Chair Powells testimony to the Senate Committee on Banking, Housing, and Urban Affairs to use its proper name. His initial statement as usual didnt say much new the interesting stuff came out in the QA, as always. Although he argued that […]
Russian Rouble Weakens vs Dollar but Hovers near 7yr Highs
This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW, June 23 Reuters The Russian rouble weakened against the dollar on Thursday but hovered not far from sevenyear highs, supported by capital controls and the prospect of a favourable upcoming tax payment period as the spectre of […]
Pound Trims some Declines on BetterthanExpected PMI Data
UK CIPSIHS Markit June Flash Services PMI holds at 53.4 Elections for two parliamentary seats on Thursday Defeat may spur party lawmakers to move against Johnson LONDON, June 23 Reuters Sterling trimmed some of its declines versus the euro and the dollar on Thursday after betterthanexpected UK PMI numbers for June, but the pound remained […]
China Evergrande Sticks to Restructuring Plan Target of Before EndJuly
HONG KONG, June 21 Reuters China Evergrande Group said it expects to announce its preliminary restructuring plan before the end of July, sticking to its original deadline as the world39;s most indebted property developer struggles to emerge from its financial crisis. Reeling under more than 300 billion in liabilities, the firm39;s offshore debt is deemed to […]
India Orders Investigation into Tata Motors EV Fire Incident
BENGALURU, June 23 Reuters India has ordered an investigation into a fire incident involving a Tata Motors electric vehicle, a government official said on Thursday, after the automaker described it as an isolated thermal incident. A video on social media, which has gone viral, showed one of the company39;s electric cars engulfed in flames. The video […]
Londons Heathrow Raises Passenger Traffic, Cost Forecasts
June 23 Reuters London39;s Heathrow said on Thursday demand for travel has been stronger than expected, prompting Britain39;s busiest airport to raise its passenger number forecast for the year, while costs are also on the rise. Heathrow raised the forecast to 54.4 million from 53 million it had anticipated last month and said it was […]
Oil Falls as Investors Eye Recession Risks
TOKYOSINGAPORE, June 23 Reuters Oil prices continued to retreat on Thursday as investors reassessed the risks of recession and the impact ofinterest rate hikes in major economies on fuel demand. U.S. West Texas Intermediate WTI crude futures fell 1.4, or 1.3, to 104.78 a barrel by 0643 GMT. Brent crude futures fell 1.3, or 1.2, […]