America
Dollar eases
The dollar edged down against a basket of currencies on Friday, pulled down by portfolio rebalancing, but was on track to end the week higher as fresh data reinforced the view the US economy remains on a firm footing.
US economy grows faster than expected
The US economy heated up more than expected in the third quarter, government data showed on Thursday, as a resilient job market helped boost consumer spending, holding off the prospect of a recession.
US budget deficit widens
The US budget deficit has widened to $1.7 trillion, government data showed on Friday, in a development that could add pressure on President Joe Biden as he seeks reelection in 2024.
Key US inflation measure ticks up
The key US inflation measure used by the Federal Reserve to set interest rates ticked up again in August, fueled by rising energy prices, according to government data published Friday.
Fed official calls for more rate hikes
The US Federal Reserve has more work to do to tackle high inflation despite making “considerable” progress in the last 18 months, a senior bank official said Friday.
Dollar up against major currencies
The US dollar advanced against a basket of currencies on Friday as the latest batch of data on business activity from around the globe highlighted the superior position of the United States relative to other major economies.
Fed holds interest rates at 22-year high
The US Federal Reserve voted Wednesday to keep interest rates at a 22-year high, while forecasting an additional rate hike before the end of the year to bring down inflation.
US jobs market solid
The US labor market is remarkably solid despite aggressive interest rate hikes to fight inflation and a recent rise in unemployment, but analysts warn that the central bank risks pushing too far.
US accuses China firms of evading solar panel tariffs
Several Chinese manufacturers of solar panels have been shipping their products through third countries including Thailand and Vietnam to circumvent US tariffs, the Commerce Department announced Friday.
Dollar jumps, oil slides on China worries
The US dollar hit its highest levels in more than a month on Monday amid worries over China’s economy, while Wall Street struggled for any clear picture ahead of fresh data on consumer appetite.
A reminder of regime shift for govt debt
Financial markets barely flinched when Fitch stripped the United States of its top credit rating, but it served as a reminder of longer-term structural risks investors in government bonds are yet to grasp.
Dollar gains
The dollar rose on Friday after a slightly bigger increase in US producer prices in July lifted Treasury yields higher even as speculation grows that the Federal Reserve is at the end of hiking interest rates.
US investors flag retaliation risks after Biden’s China tech curbs
While the market mostly shrugged off President Joe Biden’s move to prohibit some US technology investments in China, US investors said they were worried Beijing would retaliate or pull back from buying American technology.
US banking starts to pick its battles against new capital rules
Now that regulators in Washington have unfurled a hefty reform package of post-financial crisis capital regulations, banking industry advisers are honing in on what they consider most disruptive, including risk management requirements that could affect real estate lending, consumer credit and wealth management.
More rate hikes may be needed to lower inflation
A US central bank official said Saturday that more interest rate hikes “will likely be needed” to bring inflation down further, shortly after policymakers lifted rates to the highest level since 2001.
Fitch downgrades US credit rating
Fitch downgraded the United States’ top-notch credit rating by a step on Tuesday, citing a growing federal debt burden and an “erosion of governance” that has manifested in debt limit standoffs.
Key US inflation gauge cools further
A key indicator of US inflation cooled in June to the lowest annual rate in over two years, although this remains above the central bank’s target, according to government data released Friday.
US chipmaker to invest $400m in India by 2028
US chipmaker Advanced Micro Devices said on Friday it will invest around $400 million in India over the next five years and will build its largest design center in the tech hub of Bengaluru.
