* Uptrend in gold intact, says analyst. * Markets await China trade data for May. By Arundhati Sarkar. Gold prices inched higher on Wednesday, trading in a tight range as support from a weaker dollar countered concerns surrounding the U.S. Federal Reserve's next interest rate decision. Spot gold rose 0.1% to $1,963.86 per ounce by 0220 GMT.
Most Asia-Pacific stocks markets strengthened on Wednesday, as expectations for stimulus from China and overnight gains on Wall Street boosted the mood. MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.7% in the morning.
Australia's economy grew at the weakest pace in 1-1/2 years last quarter as high prices and rising interest rates sapped consumer spending, while emerging signs pointed to further softness ahead amid elevated borrowing costs and a slowdown in global growth.
Australia's economy grew at the weakest pace in 1-1/2 years last quarter as high prices and rising interest rates sapped consumer spending, while emerging signs pointed to further softness ahead amid elevated borrowing costs and a slowdown in global growth.
Australia's economy grew at the weakest pace in 1-1/2 years last quarter as high prices and rising interest rates sapped consumer spending, and emerging signs suggest a further slowdown ahead amid a deceleration in global growth.
The dollar edged lower on Wednesday as traders assessed the odds of a rate hike by the Federal Reserve next week, while the Aussie scaled a fresh three-week high in the wake of a rate increase and a decidedly hawkish stance by its central bank . The Australian dollar peaked at $0.6690 in early Asia trade, its highest since mid-May, buoyed by lingering effects of the Reserve Bank of Australia's ...
The dollar edged lower on Wednesday as traders assessed the odds of a rate hike by the Federal Reserve next week, while the Aussie scaled a fresh three-week high in the wake of a rate increase and a decidedly hawkish stance by its central bank . The Australian dollar peaked at $0.6690 in early Asia trade, its highest since mid-May, buoyed by lingering effects of the Reserve Bank of Australia's ...
Oil prices steadied on Wednesday after the previous session's losses, as demand concerns owing to slow global economic growth were offset by fears of tighter global supply following Saudi Arabia's pledge to deepen output cuts. Brent crude futures were up 9 cents, or 0.1%, at $76.38 a barrel at 0039 GMT.
Gold prices were flat on Wednesday as cautious traders awaited the U.S. Federal Reserve's interest rate decision at its policy meeting next week, although a softer dollar kept the bullion supported. FUNDAMENTALS. * Spot gold was little changed at $1,963.83 per ounce by 0027 GMT. * The dollar index eased slightly, making gold less expensive for overseas buyers.
Mexico's 2023 gross domestic product growth floor is currently at 2.2%, Finance Minister Rogelio Ramirez de la O said on Tuesday, adding he expects it will continue to rise due to the performance of consumption, employment and investment. Inflationary pressures in Mexico have moderated, Ramirez said at an event with bank BBVA.
* For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. * AMD gains on Piper Sandler price target hike. * Coinbase slumps on U.S. SEC charge. * Regional banks rally. By Sruthi Shankar, Shristi Achar A and David Carnevali.
(Updated at 3 p.m. ET) The Canadian dollar strengthened to a near four-week high against the greenback on Tuesday as investors bet that the Bank of Canada would resume its tightening campaign at an interest rate decision on Wednesday or in the coming months.
* For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. * AMD gains on Piper Sandler price target hike. * Coinbase slumps on U.S. SEC charge. * Regional banks rally. * Indexes: Dow down 0.11%, S&P up 0.13%, Nasdaq up 0.36% By Sruthi Shankar, Shristi Achar A and David Carnevali.
World shares edged higher on Tuesday as investors mulled whether a recent rally in stocks has legs to run further, while Treasury yields drifted higher as traders pared bets that U.S. rate cuts are on the horizon given sticky price pressures. Wall Street, where the S&P 500 touched a near 10-month high on Monday, was in the black.
* Stocks rise ahead of key Fed, ECB, BOJ meetings next week. * Crypto markets rattled again as SEC adds Coinbase to target list. * Oil prices steady as OPEC cut gains, bond yields drift lower. By Marc Jones and Koh Gui Qing.
* For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window. * AMD gains on Piper Sandler price target hike. * Coinbase slumps on U.S. SEC charge. * Regional banks rally.
Brazil's central bank abstained from involvement in developing the government's comprehensive consumer debt renegotiation program unveiled on Monday, two central bank directors said on Tuesday. Speaking at a news conference, Renato Gomes, the director of the financial system organization, said that policymakers solely furnished information without actively contributing to the program's design.
Brazil's central bank abstained from involvement in developing the government's comprehensive consumer debt renegotiation program unveiled on Monday, two central bank directors said on Tuesday. Speaking at a press conference, they further stated that the central bank would evaluate the initiative's potential effects on default rates and credit volume.
Euro zone government bond yields dipped on Tuesday after a European Central Bank survey showed consumers had lowered their inflation expectations, but the move failed to hold and by late in the session German yields were roughly flat on the day.
Supply chain pressures cooled again in May, New York Fed data showed, in a development that further eased what had been one of the key factors that had helped drive surging inflation pressures around the work. The New York Fed said on Tuesday that its latest Global Supply Chain Pressure Index stood at -1.71, from the revised -1.35 for April.
Supply chain pressures cooled again in May, New York Fed data showed, in a development that further eased what had been one of the key factors that had helped drive surging inflation pressures around the work. The New York Fed said on Tuesday that its latest Global Supply Chain Pressure Index stood at -1.71, from the revised -1.35 for April.
The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year's results. Real global GDP is set to climb 2.1% this year, the World Bank said in its latest Global Economic Prospects report.
* Dollar rises 0.1%, yields tick higher. * Markets see 79% chance of Fed standing pat next week. * Focus on U.S. inflation data due on June 13. By Ashitha Shivaprasad. Gold prices steadied on Tuesday, trading in a tight range as investors awaited more cues to assess the Federal Reserve's interest rate path ahead of its policy meet next week.
Treasury yields traded
slightly higher on Tuesday as the market awaits the release next
week of key consumer price data followed by a Federal Reserve
meeting in which futures traders expect ...
* Oil stocks fall tracking drop in crude prices. * Advanced Micro Devices (AMD) gains on Piper Sandler's PT raise. * Indexes down: Dow 0.19%, S&P 0.12%, Nasdaq 0.18% * For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
Canadian economic activity expanded in May at the slowest pace in three months, Ivey Purchasing Managers Index data showed on Tuesday. The seasonally adjusted index fell to 53.5 in May from 56.8 in April, posting its lowest level since February. The Ivey PMI measures the month to month variation in economic activity as indicated by a panel of purchasing managers from across Canada.
The U.S. dollar gained
against the euro and yen on Tuesday as investors focused on the
likelihood that the Federal Reserve will continue hiking rates,
while the Aussie jumped after the Reserve Bank ...
The World Bank on Tuesday raised its 2023 global growth outlook as the U.S., China and other major economies have proven more resilient than forecast, but said higher interest rates and tighter credit will take a bigger toll on next year's results. Real global GDP is set to climb 2.1% this year, the World Bank said in its latest Global Economic Prospects report.
Canada's main stock index opened on a subdued note on Tuesday, weighed down by energy stocks on declining crude oil prices, while investors waited to see if the Bank of Canada will hold or hike interest rate in its June meeting. At 9:30 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index was down 1.91 points, or 0.01%, at 19,929.71.
Wall Street's main indexes opened slightly lower on Tuesday as investors assessed chances of the Federal Reserve holding interest rates at its meeting next week, with mixed data adding to uncertainty around the policy outlook.
The World Bank on Tuesday raised its 2023 global growth forecast as the U.S. and other major economies have proven more resilient than forecast, but said higher interest rates would cause a larger-than-expected drag next year. Real global GDP is set to climb 2.1% this year, the World Bank said in its latest Global Economic Prospects report.
* Stocks sag ahead of key Fed, ECB, BOJ meetings next week. * Crypto markets rattled again as SEC adds Coinbase to target list. * Oil prices give back OPEC cut gains, bond yields drift lower. By Nell Mackenzie and Marc Jones.
New trades in the enormous U.S. dollar interest rate swap market have almost entirely stopped using the London Interbank Offered Rate as the deadline for its demise approaches. A record 91% of new dollar swaps executed in May used the Secured Overnight Financing Rate, the newly accepted U.S. benchmark, as their reference rate.
- Brazilian inflation probably declined to an eight-month low in May versus April, opening a much anticipated window for interest rate cuts in the second-half of the year, a Reuters poll of economists predicted.
Canada's main resource-heavy stock index was set for a lower open on Tuesday, tracking a decline in oil and metal prices, while investors are waiting to see if the Bank of Canada will hold or hike interest rate in June meeting. June futures on the S&P/TSX index were down 0.1% at 7:11 a.m. ET.
The Australian dollar jumped to its highest since mid-May on Tuesday after the Reserve Bank of Australia raised interest rates, in a decision that many analysts had said would be a close call between a hike and a pause.
In a rare attempt to bolster China's yuan, a self-regulatory body overseen by the country's central bank has told major state-owned banks to lower dollar deposit interest rates, four people with direct knowledge of the matter said. This could encourage Chinese firms, especially exporters, to settle foreign exchange receipts in yuan, which has weakened to six-month lows against the dollar.
- The S&P 500 and Nasdaq rose on Tuesday as banks led a rally in economically sensitive sectors, while investors awaited inflation data and the Federal Reserve's policy meet next week. Inflation data is expected to show consumer prices cooled slightly on a month-over-month basis in May but core prices are likely to have remained elevated, while the Fed is widely expected to hold interest rates.
- U.S. stocks closed up on Tuesday, helped by some advances in economically sensitive sectors, as investors awaited inflation data and the Federal Reserve's policy meet next week. Inflation data is expected to show consumer prices cooled slightly on a month-over-month basis in May but core prices are likely to have remained elevated, and the Fed is widely expected to hold interest rates.
The Polish zloty eased on
Tuesday after extending a two-year high a day earlier, while
other central European currencies held onto recent gains amid
positive market sentiment.
* Futures down: Dow 0.14%, S&P 0.09%, Nasdaq 0.03% Wall Street futures slipped on Tuesday as investors assessed chances of the Federal Reserve holding interest rate at its meeting next week, with mixed data adding to uncertainty around the policy outlook.
A look at the day ahead in U.S. and global markets from Mike Dolan. As world stock markets levelled off on Tuesday, Australia dampened hopes that central banks were set to pause the interest rate rise cycle, the crypto universe nursed its latest blow, and Apple underwhelmed overnight.
A look at the day ahead in U.S. and global markets from Mike Dolan. As world stock markets levelled off on Tuesday, Australia dampened hopes that central banks were set to pause the interest rate rise cycle, the crypto universe nursed its latest blow, and Apple underwhelmed overnight.
* CPI data on June 13 to decide Fed rate hike path- analyst. * U.S. 10-year Treasury yields slip 0.2% * Not much gold price movement expected this week- analyst. By Seher Dareen. June 6 - Gold prices traded in a narrow range on Tuesday as investors sought more clarity around the U.S. Federal Reserve's policy outlook, but lower Treasury yields kept a floor under non-yielding bullion.
The outlook for most major housing markets has improved slightly from three months ago despite high interest rates, according to Reuters polls of property analysts who were mostly split on whether affordability would worsen or not.
-European main share indices rose on Tuesday, supported by a jump in shares of healthcare giant Novo Nordisk, though gains were capped by worries of further interest rate hikes by major central banks in the face of slowing economic growth. The pan-European STOXX 600 index closed 0.4% up.
* China stocks reverse early gains, yuan slips. * South Africa GDP data due. * Turkey's lira weakens about 1% * Turkey rate hike to 25% likely in June- JPM.
European stocks started Tuesday mixed, as soft U.S. economic data reinforced expectations the Federal Reserve may skip an interest rate hike when it meets next week. The pan-European STOXX 600 index was up 0.1% to 460.40 at 0830 GMT.
The Australian dollar jumped to its highest since mid-May on Tuesday after the Reserve Bank of Australia raised interest rates, in a decision that many analysts had said would be a close call between a hike and a pause.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
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