Oil Prices Rise As China Optimism Grows Ahead of Lunar New Year
Oil prices rose further on Friday, and were set to end the week higher as optimism over an eventual recovery in Chinese demand this year largely offset fears that a global economic slowdown will dent crude markets. Markets are betting on a
Dr. Martens Plunges After Fresh Profit Warning
Dr. Martens (LON:DOCS) stock plunged at the open on Thursday to a new all-time low, after the bootmaker was forced to cut its forecasts once again in response to problems in North America. Dr. Martens said a variety of operational problems had created
Asia FX Weakens On recession Wo Yen Supported By Yield Cap Bets
Most Asian currencies retreated on Thursday as weak U.S. economic data pushed up fears of a potential recession, while the Japanese yen recouped most of its recent losses on speculation that the Bank of Japan may yet increase its yield control range. The
Aussie Falters on Soft Jobs Data, kiwi Calm After Ardern Resignation
The Australian dollar reversed a recent rally on Thursday, as rising fears of a U.S. recession and soft local jobs data knocked the risk-sensitive currency, while the kiwi was little moved by the resignation of Prime Minister Jacinda Ardern. The Aussie eased 0.4%
BOJ keeps Record-Low Rates Unchanged, Maintains Yield Curve Control
The Bank of Japan (BOJ) kept its benchmark interest rates unchanged as expected on Wednesday, and also maintained its current rate of yield curve control, ducking market expectations for more hawkish signals. The Japanese yen plummeted after the move, dropping over 2% to
U.K. Unemployment Rose Less Than Feared in December
The U.K. labor market stayed stronger than expected in December, with the number of benefit claimants rising only moderately. At the same time, wage growth in November, the last month for which data are available, grew more strongly than expected, rising 6.4% on
China Q4 GDP Slows on COVID Woes, But Beats Expectations
The Chinese economy grew at a slower pace in the fourth quarter of 2022, data showed on Tuesday, as disruptions caused by the country’s now relaxed zero-COVID policy weighed heavily on business activity, although the reading still beat expectations. Chinese gross domestic product
Crude Oil Lower; Monthly Demand Reports in Focus
Oil prices fell Monday, consolidating after last week’s strong gains ahead of the release of demand forecasts from the OPEC and the IEA as well as a deluge of potentially influential economic data due this week. By 04:35 ET (09:35 GMT), U.S. crude
Asian Stocks Rally On China Stimulus, Japan Hit By BOJ Uncertainty
Most Asian stock markets surged on Monday, with Chinese indexes in the lead after the government rolled out more stimulus measures, while fears of more hawkish moves from the Bank of Japan saw local stocks tumble. China’s blue-chip Shanghai Shenzhen CSI 300 index
China’s Dec Home Prices fall, More Supportive Policies Likely
China’s new home prices fell again in December as COVID-19 outbreaks hurt demand, with Beijing expected to roll out more measures to help sustain the recovery after the dismantling of pandemic curbs last month brightened the outlook. New home prices dropped both in
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