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May 23, 2022

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Lebanon recovery plan includes central bank debt write-off, haircuts to depositors

Reuters
Lebanese President Michel Aoun heads a final cabinet meeting before the government enters a caretaker status at the presidential palace in Baabda, Lebanon May 20, 2022. Dalati Nohra/Handout via REUTERS Register now for FREE unlimited access to Reuters.com Register May 20 (Reuters) – Lebanon’s government foresees cancelling “a large part”......

Wells Fargo sees end-of-year U.S. recession, cuts GDP view

Reuters
A person pushes a shopping cart in a supermarket in Manhattan, New York City, U.S., March 28, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register May 18 (Reuters) – Wells Fargo Investment Institute said on Wednesday it reduced its economic expectations with a mild U.S. recession......

Dollar perched at 2-decade high on weak China data

Reuters
U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic Register now for FREE unlimited access to Reuters.com Register LONDON, May 16 (Reuters) – The U.S. dollar consolidated gains near a two-decade peak on Monday as poor Chinese economic data hurt cyclical currencies including the British......

Gold up from 3-month lows as U.S. bond yields weaken

Reuters
Sales persons wait for customers at a gold jewelry showroom in Chandigarh, India, November 9, 2016. REUTERS/Ajay Verma Register now for FREE unlimited access to Reuters.com Register Dollar starts week just off recent 20-year high against peers Momentum clearly favours further downside in gold – analyst Gold prices touched lowest......

Asia stocks struggle after dire China data

Reuters
Asian stock markets: China retail sales dive 11.1%, output drops 2.9% Nikkei pares gains, S&P 500 futures turn lower Dollar holds near 20-year highs, yen gets safety bid SYDNEY, May 16 (Reuters) – Asian share markets were struggling to sustain even a minor rally on Monday after shockingly weak data......

Morning Bid: TGIF – is it over yet?

Reuters
A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 5, 2022. REUTERS/Andrew Kelly/Files Register now for FREE unlimited access to Reuters.com Register A look at the day ahead in markets from Dhara Ranasinghe. After a wild ride, markets......

Analysis: Traders ready for wilder swings as rate rises stoke volatility

Reuters
A specialist trader works on the floor of the New York Stock Exchange, August 21, 2015. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register LONDON/NEW YORK, May 13 (Reuters) – Traders in the world’s largest markets are having to navigate wild intra-day swings and shrinking deal sizes......

Thailand’s economy likely grew modestly in Q1, stung by high inflation: Reuters poll

Reuters
Thailand’s GDP seen at 2.1% y/y in Q1 vs 1.9% in Q4 Q1 GDP seen at 0.9% q/q sa vs 1.8% in Q4 Q1 GDP data due on Tuesday, May 17 at 0130 GMT BENGALURU, May 13 (Reuters) – Thailand’s economy likely grew modestly in the first quarter, thanks to......

Gold prices wobble as soaring dollar, sliding yields tussle

Reuters
A customer checks a gold necklace before buying it at a jewellery showroom on the occasion of Akshaya Tritiya, a major gold buying festival, in Kolkata, India, May 3, 2022. REUTERS/Rupak De Chowdhuri Register now for FREE unlimited access to Reuters.com Register U.S. CPI rose 0.3% last month Gold down......

Asian shares edge up from near two-year lows as U.S. inflation data looms

Reuters
A currency dealer works at a dealing room of a bank in Seoul, South Korea, August 25, 2015. REUTERS/Kim Hong-Ji Register now for FREE unlimited access to Reuters.com Register HONG KONG, May 11 (Reuters) – Asian shares squeezed higher on Wednesday from close to two-year lows hit in the previous......

Greece, UAE agree joint investments in energy, other sectors

Reuters
ATHENS, May 9 (Reuters) – Greece and the United Arab Emirates (UAE) on Monday agreed to jointly fund investments worth 4 billion euros ($4.2 billion) in the Mediterranean country and explore further cooperation in the energy sector, the Greek prime minister’s office said. Prime Minister Kyriakos Mitsotakis met with Crown......

U.S. wholesale inventories rise strongly; first-quarter GDP seen revised slightly up

Reuters
Kathleen Littel shops for Christmas gifts at Hammond’s Candies, the largest U.S. wholesale supplier of candy canes, in Denver, Colorado, U.S., December 16, 2021. REUTERS/Alyson McClaran Register now for FREE unlimited access to Reuters.com Register WASHINGTON, May 9 (Reuters) – U.S. wholesale inventories increased solidly in March and the pace......

Manufacturing drives strong U.S. hiring; wage growth cools

Reuters
Nonfarm payrolls increase 428,000 in April Unemployment rate steady at 3.6%; participation rate falls Average hourly earnings rise 0.3% Average workweek unchanged at 34.6 hours WASHINGTON, May 6 (Reuters) – U.S. job growth increased more than expected in April as manufacturers boosted hiring, underscoring the economy’s strong fundamentals despite a......

Wall St tumbles again as strong jobs growth fuels rate hike fears

Reuters
A trader works on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., May 5, 2022. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register Under Armour tumbles on dismal 2023 profit outlook Indexes down: Dow 1.14%, S&P 1.34%, Nasdaq 1.56%......

U.S. weekly jobless claims rise; productivity plunges at fastest pace in 74 years

Reuters
Weekly jobless claims increase 19,000 to 200,000 Continuing claims fall 19,000 to 1.384 million Productivity plunges at 7.5% rate in first quarter WASHINGTON, May 5 (Reuters) – New claims for U.S. unemployment benefits increased to a more than two-month high last week, but remained at a level consistent with tightening......

Sliding pound supports FTSE 100 after BoE flags recession risk

Reuters
A man walks past the Bank of England (BoE) in London, Britain, December 16, 2021. REUTERS/Toby Melville Register now for FREE unlimited access to Reuters.com Register Bank of England raises rate to 1%, flags recession risk Shell up after oil major posts record quarterly profit FTSE 100 up 0.1%, FTSE......

Euro zone yields rise, tracking moves in U.S. Treasuries

Reuters
The euro sign is photographed in front of the former head quarter of the European Central Bank in Frankfurt, Germany, April 9, 2019. REUTERS/Kai Pfaffenbach Register now for FREE unlimited access to Reuters.com Register May 5 (Reuters) – Euro zone borrowing costs were up on Thursday as a jump in......

HSBC expects euro-dollar parity by Q4 2022

Reuters
LONDON, May 5 (Reuters) – HSBC on Thursday sharply cut its forecast for the euro and said it expects the single currency to weaken to parity against the U.S. dollar this year, the first major investment bank to make that prediction. Hurt by the ongoing war in Ukraine, the post-pandemic......

Credit Agricole’s Q1 earnings hit by Russia, Ukraine provisions

Reuters
A branch of Credit Agricole bank is seen in Warsaw, Poland, July 3, 2018. REUTERS/Marcin Goclowski Register now for FREE unlimited access to Reuters.com Register LONDON, May 5 (Reuters) – Credit Agricole SA (CAGR.PA) on Thursday posted a sharp fall in profits for the first quarter of 2022, after it......

Anti-Americanism is blinding Chinese policy

Reuters
A paramilitary policeman spreads out the Chinese flag as he raises it in front of the portrait of Chairman Mao Zedong hanging at Tiananmen Gate in Beijing March 5, 2009. REUTERS/David Gray Register now for FREE unlimited access to Reuters.com Register HONG KONG, May 5 (Reuters Breakingviews) – China’s unhealthy......

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