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July 4, 2022

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Canadian inflation expectations bolster case for supersize rate hike

Reuters
A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie/File Photo Register now for FREE unlimited access to Reuters.com Register OTTAWA, July 4 (Reuters) – Consumer inflation expectations surged in Canada, hitting fresh highs in the short-term and up “significantly” over......

Rebound in oil prices gives world stocks a lift in holiday trade

Reuters
A man walks under an electronic screen showing Japan’s Nikkei share price index inside a conference hall in Tokyo, Japan June 14, 2022. REUTERS/Issei Kato Register now for FREE unlimited access to Reuters.com Register Oil steady after losing $1 a barrel in early trade Nikkei rises 0.84%, Chinese stocks up......

Dollar holds firm as growth fears stalk markets

Reuters
South Korean won, Chinese yuan and Japanese yen notes are seen on U.S. $100 notes in this file photo illustration shot December 15, 2015. REUTERS/Kim Hong-Ji//Illustration Register now for FREE unlimited access to Reuters.com Register SINGAPORE, July 4 (Reuters) – The dollar kept trade-sensitive currencies pinned near multi-year lows on......

China cetral bank upgrades currency swap with HKMA, expands size to 800 billion yuan

Reuters
BEIJING, July 4 (Reuters) – China’s central bank said on Monday that it has upgraded a currency swap facility with Hong Kong to a standing swap agreement and expanded the size to 800 billion yuan ($119.40 billion) from 500 billion yuan. The agreement was signed by the People’s Bank of......

Malaysia central bank to hike rates again in July and September- Reuters Poll

Reuters
A man walks past the entrance of Central Bank of Malaysia (Bank Negara Malaysia) in Kuala Lumpur, Malaysia, July 31, 2019. REUTERS/Lim Huey Teng Register now for FREE unlimited access to Reuters.com Register All economists expect BNM to raise rates to 2.25% Decision due at 0700 GMT on Wednesday, July......

Argentine president scrambles to replace economy chief after Guzman exit

Reuters
BUENOS AIRES, July 3 (Reuters) – Argentine President Alberto Fernandez held meetings and telephone calls on Sunday morning as he scrambled to find a new economy minister, official sources said, after the exit of ally Martin Guzman. “No news,” a government spokesperson told Reuters on Sunday morning. Guzman, 39, submitted......

Wall St Week Ahead: Investors brace for pivotal July after dismal first half

Reuters
NEW YORK, July 1 (Reuters) – The U.S. stock market is reeling from its worst first half of any year since 1970, with investors girding for a series of potential flashpoints in July that may set Wall Street’s course for the coming months. Second-quarter corporate earnings, hotly anticipated U.S. inflation......

EU agrees to tame ‘Wild West’ with new crypto market rules

Reuters
Souvenir tokens representing cryptocurrency Bitcoin and the Ethereum network, with its native token ether, plunge into water in this illustration taken May 17, 2022. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register LONDON, July 1 (Reuters – Cryptocurrency companies will need a licence and customer safeguards to......

Wall Street ends first day of third quarter with solid rebound

Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., June 30, 2022. REUTERS/Brendan McDermid/Files Register now for FREE unlimited access to Reuters.com Register U.S. factory activity decelerates more than expected in June Micron’s downbeat forecast prompts chip sell-off Kohl’s tumbles after calling......

Muted start to new quarter for European equities as recession worries weigh

Reuters
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, June 29, 2022. REUTERS/Staff Register now for FREE unlimited access to Reuters.com Register Euro zone inflation hits another record, tops estimates Micron’s bleak outlook weighs on chip stocks Italy, Spain’s factory activity growth slows......

Downturn fears support dollar, Aussie slumps to two-year low

Reuters
U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, July 1 (Reuters) – Gathering gloom about prospects for the global economy lifted the safe-haven dollar on Friday and pressured risk-sensitive currencies, with the Australian......

Asia’s factories feeble despite China bounce, feeds global recession fears

Reuters
A bicycle rider rides past a factory at Keihin industrial zone in Kawasaki, south of Tokyo, Japan, August 18, 2016. REUTERS/Kim Kyung-Hoon Register now for FREE unlimited access to Reuters.com Register Japan, S. Korea PMIs slow in June on supply constraints Taiwan’s PMI contracts, other Asian PMIs also soft China’s......

Australian BNPL firm Openpay hits pause on U.S. market as interest rates climb

Reuters
Openpay to ‘materially’ reduce U.S. workforce BNPL business model in danger as interest rates climb July 1 (Reuters) – Openpay Group (OPY.AX), an Australian buy-now-pay-later (BNPL) firm, has halted operations in the United States four months after describing it as its main growth market, the latest casualty among consumer finance......

Column: Global business cycle starts to turn down: Kemp

Reuters
An aerial view shows containers and cargo vessels at the Qingdao port in Shandong province, China May 9, 2022. China Daily via REUTERS Register now for FREE unlimited access to Reuters.com Register LONDON, June 30 (Reuters) – Global manufacturing activity and freight movements have begun to decelerate as the major......

U.S. inflation data offer no quick relief to Fed, but hint at a peak

Reuters
WASHINGTON, June 30 (Reuters) – New U.S. data for May showed little immediate relief from the record pace of inflation pushing the Federal Reserve toward another oversized interest rate increase next month, but it did add to a developing sense that the worst may be over. Inflation as measured by......

Europe stares at ‘stagflation’, says UBS

Reuters
A man pushes a shopping cart in Nice, France, June 10, 2022. REUTERS/Eric Gaillard Register now for FREE unlimited access to Reuters.com Register June 30 (Reuters) – Eurozone is headed toward “stagflation” as efforts to stamp out a surge in inflation will bring growth to a near halt in the......

Stocks sink on fears for global economy, capping worst H1 on record

Reuters
Share indexes down 1% to 3%, U.S. futures weak Cenbank chiefs reiterate inflation warning this week Sweden’s Riksbank latest to hike rates All eyes on U.S. core prices data due later Graphic: Global asset performance LONDON, June 30 (Reuters) – Stocks sank on Thursday to extend what is the worst......

Indian shares suffer worst quarter since pandemic-hit start of 2020

Reuters
A general view of the Bombay Stock Exchange (BSE) in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas Register now for FREE unlimited access to Reuters.com Register BENGALURU, June 30 (Reuters) – Indian shares on Thursday ended lower and clocked their worst quarter since the early days of the pandemic, beset......

Emerging markets face bleak outlook after stormy start to the year

Reuters
An electronic board showing the graph of the recent fluctuations of market indices is seen as a man works on the floor of Brazil’s B3 Stock Exchange in Sao Paulo, Brazil, July 25, 2019. REUTERS/Amanda Perobelli/File Photo Register now for FREE unlimited access to Reuters.com Register War worries and rate......

Column: Oil market confronts U.S. and EU policymakers with unpalatable choices: Kemp

Reuters
LONDON, June 29 (Reuters) – With global inventories steadily falling and spare capacity eroding, the oil market resembles a geological fault line in which stress is quietly accumulating and will eventually be relieved by an earthquake of as yet unknown magnitude. The most likely stress relief will come from a......

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