British Pound Forecast: Digesting Gains Around Spring Budget – Levels for GBP/JPY, GBP/USD, EUR/GBP
After a strong run higher, the British Pound may be due for a period of pullback, if not consolidation, before further gains.
Asia Growth Drives 4 Rise in Prudential 2020 Operating Profit
LONDON, March 3 Reuters Prudentials operating profit rose 4 in 2020, Britains largest insurer said on Wednesday, driven by strength in its main Asian business, as it prepares to split off its U.S. operations. Overall adjusted operating profit from continuing operations came in at 5.5 billion, while Asia adjusted operating profit jumped 13 to 3.7 […]
Chinas Coal Consumption Seen Rising in 2021, Imports Steady
BEIJING, March 3 Reuters Chinas coal consumption is expected to continue rising in 2021 despite Beijings pledges to boost the use of clean energy and curb greenhouse gas emissions, the China National Coal Association said on Wednesday. China, the worlds biggest coal consumer, saw overall consumption of the fossil fuel increase by 0.6 in 2020 […]
USD Slips as Bond Yields Drop, Investor Sentiment Strengthens
The U.S. dollar fell on Wednesday as investor sentiment improved and government bond yields extended their retreat, while commoditylinked currencies such as the Australian and Canadian dollars held on to recent gains. Lower U.S. bond yields also sapped some of the dollars appeal among lowyielding currencies, with the yen and Swiss franc recovering from multimonth […]
Oil Up as OPEC Considers Rollover Rather than Hiking Output
Oil prices rose on Wednesday, boosted by expectations that OPEC producers might decide against increasing output when they meet this week, while signs of progress in the coronavirus vaccine rollout in the United States gave further support. Brent oil rose 80 cents, or 1.3, to 63.50 a barrel by 0942 GMT. U.S. West Texas Intermediate […]
OPEC Considers Oil Output Roll Over for April, Sources Say
OPEC and allies, known as OPEC, are considering rolling over oil production cuts from March into April instead of raising output because of fragile oil demand recovery due to persisting worries about the coronavirus, three OPEC sources told Reuters. OPEC ministers hold a full meeting on Thursday. The market had been widely expecting OPEC to […]
U.S. Economy is on Fire and is about to Get Stoked even More
The U.S. economy has roared back to life in 2021, with firstquarter growth set to defy even the rosiest expectations as another fresh influx of cash looms. Manufacturing data Monday showed the sector at its highest growth level since August 2018. That report from the Institute for Supply Management in turn helped confirm the notion […]
French Power Usage, Carbon Emissions Fall amid Pandemic
French power consumption fell 3.5 last year as the COVID19 pandemic cut demand more than during the 2008 financial crisis, grid operator RTE said on Wednesday. Electricity consumption fell to 460 terawatt hours TWh, the company said. Production fell 7 when including the reduced availability of nuclear power plants, RTE added. Carbon emissions from the […]
Nikkei Edges Up as Investors Hunt for Value Shares
TOKYO, March 3 Reuters Japanese shares eked out gains on Wednesday as investors picked up cyclical stocks on hopes of a quicker economic recovery from the pandemicled recession. However, gains were capped by worries about bond market volatility and talk of huge selling for rebalancing this month. The Nikkei average ticked up 0.18 to 29,459.71, […]
AlphabetBacked Oscar Health Raises 1.2 Billion in IPO
Reuters Oscar Health Inc, a health insurance startup backed by Google parent Alphabet Inc, sold shares in its initial public offering IPO on Tuesday at 39 apiece, above its target range, to raise 1.2 billion. The IPO gives New Yorkbased Oscar Health a market value of 7.7 billion. The target price range on the offering […]