Currencies

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...

Trump says he has 'two or three' choices to replace Fed's Powell

WASHINGTON -U.S. President Donald Trump said on Tuesday he has two or three top choices to replace Jerome Powell as Federal Reserve chair. Powell, whose term ends in May 2026, was...

Foreign investors increase dollar hedges on US stock portfolios

NEW YORK -Overseas asset managers and pensions are adding protection against a weakening dollar, concerned about the U.S. currency's diminishing ability to diversify their U.S. equity portfolios.  ...

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...

Russia's central bank expected to cut key rate in July to 19%

MOSCOW -The Russian central bank will cut its benchmark interest rate by one percentage point to 19% at its board meeting on July 25 as inflation is expected to be within its estimated range in 2025,...

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...

Sterling firms to three-year peak, focus on welfare bill vote

Sterling neared a three-year high on Tuesday, aided by a broad dollar weakness, as uncertainty about the health of the U.S. economy continued to pressure the U.S. currency and forced investors to...

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...

Russia's factory activity in June contracts at fastest pace since March 2022

Russia's manufacturing sector contracted at its sharpest rate in more than three years in June as output, new orders and employment all slumped, a business survey showed on Tuesday. The...

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...

China lifts yuan midpoint, but trade weighted value falls to lowest since 2021

SHANGHAI -China lifted its official yuan midpoint to its strongest since November on Tuesday, but pressured its value versus its major trading partners to the lowest level in more than four years. ...