London CNN — Germany’s economy grew slightly last year despite battling an energy crisis sparked by Russia’s war in Ukraine. The country’s GDP rose 1.9% last year, mostly due to a surge in household spending, according to a preliminary estimate from its Federal Statistics Office published on Friday. That has “greatly diminished” the risk of...Read More
Yen up around 3% against dollar across two sessions Speculation mounts BOJ could revise monetary policy Dollar index hovers around multi-month low LONDON, Jan 13 (Reuters) – The yen surged further on speculation that Japan could revise its ultra-loose monetary policy, while the dollar edged higher after earlier dipping to its lowest level since June...Read More
MARKET WRAPS Watch For: EU industrial production, trade; Germany annual GDP; France CPI; UK industrial production, trade, index of services, GDP monthly estimates; trading updates from Sberbank, Taylor Wimpey Opening Call: Stock futures point to slight declines in Europe on Friday. In Asia, stock benchmarks were mixed; Treasury yields were mostly higher; the dollar gained;...Read More
WASHINGTON — The International Monetary Fund expects that global economic growth will begin to rebound later this year and that a worldwide recession can be averted if China continues to ease its pandemic restrictions and Russia’s war in Ukraine does not worsen. Kristalina Georgieva, the managing director of the I.M.F., expressed optimism on Thursday that...Read More
Stress in China’s $740 billion offshore credit market has eased to the least in almost two years, following a rally in developers’ bonds as authorities intensify a campaign to alleviate an unprecedented property crisis. A Bloomberg index of Chinese junk dollar bonds, which are dominated by real estate firms, has surged nearly 60% from a...Read More
JPMorgan Chase CEO Jamie Dimon says he “shouldn’t ever use the word hurricane” when warning about the U.S. economy. However, he insisted that there are “storm clouds” that “could be a hurricane.” JPMorgan CEO Jamie Dimon on US Economy The chief executive of global investment bank JPMorgan Chase, Jamie Dimon, discussed the U.S. economy in...Read More
By Scott DiSavino NEW YORK (Reuters) -Oil prices rose 2% to a one-week high on Wednesday as hopes for an improved global economic outlook and concern over the impact of sanctions on Russian crude output outweighed a massive surprise build in U.S. crude stocks. Brent futures rose $1.67, or 2.1%,...Read More
The world economy is slowing “perilously close” to a recession, the World Bank warned Tuesday, slashing its 2023 global growth forecast, as the impact of central bank rate hikes intensifies, Russia’s war in Ukraine continues and the world’s major economic engines sputter. In an annual report, the World Bank, which lends money to poorer countries...Read More
Bond Yields Rebound, Stocks Finish with Modest Gains Summary: The Dollar closed with modest gains after Fed Chair Jerome Powell refrained from commenting on interest rates. Powell instead focussed his speech on the Fed’s independence. Markets awaited the US CPI report, released early Friday (12.30 am) Sydney. The inflation number for December is expected to...Read More
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