Analysis: Currencies

India plans $230 million drone incentive after Pakistan conflict, sources say

NEW DELHI -India will launch a $234 million incentive programme for civil and military drone makers to reduce their reliance on imported components and counter rival Pakistan's programme built on...

India's $700 billion plus FX reserve pile, leaner forward book bolster rupee shield

MUMBAI -India's foreign exchange reserves topped $700 billion last week to hit a 9-month high, which, alongside the central bank's shrinking forward book, cements the rupee's defences at a time when...

Stocks, dollar dip as Trump passes spending bill, trade deal deadline nears

LONDON -Stocks slipped on Friday as U.S. President Donald Trump got his signature tax cut bill over the line and attention turned to his July 9 deadline for countries to secure trade deals with the...

Trump administration will focus on Fed chair replacement in fall, Bessent says

WASHINGTON -The Trump administration will focus on finding a replacement for Federal Reserve Chairman Jerome Powell this fall, U.S. Treasury Secretary Scott Bessent told CNBC on Thursday, adding that...

At Sintra getaway, central bankers mull threats to their domain

SINTRA, Portugal -At their annual gathering in the hills of Portugal's Sintra, central bankers this week confronted rising challenges to their control of the global money system, from political...

Instant view: US job growth beats expectations in June

NEW YORK -U.S. job growth in June rose above expectations, while the unemployment rate fell, suggesting the labor market is stable. Nonfarm payrolls increased by 147,000 jobs in June,...

TSX posts record closing high as investors cheer U.S. jobs data

Canada's main stock index rose to a record closing high on Thursday, led by gains for financial and technology shares, as stronger-than-forecast U.S. employment data added to the high spirits of...

Sterling steadies after selloff, fiscal worries prevail

Sterling edged higher on Thursday, stabilising after fiscal concerns and uncertainty about Rachel Reeves' future as Britain's finance minister sparked a selloff across UK assets in the previous...

South African rand gains on investor optimism over US trade negotiations

JOHANNESBURG -The South African rand gained on Thursday on optimism among global investors about trade negotiations with the U.S. after the country signed a trade deal with Vietnam, fuelling hopes of...

Russian services sector contracts for first time in a year in June

Russia's services sector slumped into a contraction in June for the first time in a year, as slower growth in new orders led companies to cut output, a business survey showed on Thursday. ...

Investors mobilise for weeks of market whiplash from wild-card events

LONDON -Big investors are mobilising to trade through weeks packed with wild-card events that may shatter the calm in stock markets and drive big swings for assets they see as exposed to both...

Dollar gains after strong US jobs data stretches market hopes of Fed cut

NEW YORK -The U.S. dollar rose against major currencies, including the yen, euro and Swiss franc on Thursday, after data showing the U.S. economy created more jobs than expected, signalling that the...

US Fed bank supervision chief takes buyout, email says

WASHINGTON -Michael Gibson, director of the U.S. Federal Reserve's supervision and regulation division, has accepted a voluntary buyout and will retire at the end of this month after 33 years at the...

Russia's jobless rate hits new all-time low in May

MOSCOW -Russia's unemployment rate, seen by the central bank as a key indicator of economic overheating, hit the new all-time low level of 2.2% of the workforce in May, statistical data showed on...

UK bond rout draws Truss comparisons as public finances rattle investors

LONDON -British government bonds tumbled sharply on Wednesday as a tearful appearance by Chancellor Rachel Reeves in parliament a day after the government backed down on its welfare reforms reignited...

U.S. dollar to stay under pressure from tariff, debt and rate cut expectations

BENGALURU -The U.S. dollar will remain weak over the coming months, a Reuters poll of FX analysts forecast, caught in a tangle of mounting U.S. debt concerns, erratic tariff policies and rising...

Vale cuts forecast for iron ore agglomerates output amid market weakness

SAO PAULO/RIO DE JANEIRO -Brazilian miner Vale on Wednesday lowered its forecast for iron ore agglomerates production in 2025, as the pellet market struggles with oversupply concerns and reduced...

Italy could lose 20 billion euros in exports, 118,000 jobs with US tariffs, industry head says

MILAN -Italy risks losing 20 billion euros in exports and 118,000 jobs next year if the U.S. imposes tariffs of 10% on all European products, the head of the main Italian business lobby said on...

Trading Day: Sweeping US fiscal bill advances, rate path stays murky

TRADING DAY Making sense of the forces driving global markets By Lewis Krauskopf, Markets Reporter  Jamie is enjoying some well-deserved time off, but the...