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.
Fed lifts rates to highest since 2001
The US Federal Reserve raised its benchmark lending rate on Wednesday to the highest level since 2001 to tackle above-target inflation, and signaled it could hike again later this year amid improving economic prospects.
Oil prices rise
Oil prices rose to fresh three-month highs on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world’s second-biggest economy lifted sentiment.
IMF raises 2023 global economic growth forecast
The International Monetary Fund on Tuesday raised its 2023 global growth estimates slightly given resilient economic activity in the first quarter, but warned that persistent challenges were dampening the medium-term outlook.
Threads struggles for traction
After a wildly successful first few days, Threads popularity has waned in the weeks since Meta launched its challenge to Twitter, which lives on despite its problems.
Oil prices decline on profit-taking
Oil prices edged lower on Wednesday, as investors took profits following earlier gains on tighter US crude supplies and China’s pledge to reinvigorate its economic growth.
US industrial output falls
US industrial production fell by more than analysts expected last month, the Federal Reserve said Tuesday, with a sharp contraction in output seen in consumer durables like automotive products and carpeting.
Tesla rolls out its first electric pickup
US automaker Tesla on Saturday announced that its first electric pickup -- a slick-looking silver Cybertruck -- had rolled off the assembly line at its huge plant near Austin, Texas.
US banks caution on economy
Results of large US banks released Friday underscored the boon from higher interest rates, as executives described the world’s biggest economy as “resilient” but facing risks.
Tumbling US dollar a boon to risk assets
Cooling US inflation is accelerating a decline in the dollar, and risk assets around the world stand to benefit.
IMF sees slowing momentum in global economy
The International Monetary Fund said on Thursday that first quarter global growth slightly outpaced projections in its April forecasts, but data since then has shown a mixed picture, with “pockets of resilience” alongside signs of slowing momentum.
