The U.S. dollar extended gains to reach a fresh 13-month high against a basket of major currencies on Wednesday as investors sought shelter from a tech stock sell-off and positioned for Fed rate hikes. A broad sell-off in technology and semiconductor shares has dragged global stocks lower as investors take profits on a long rally, sparking safe-haven demand for dollar and bonds.
* Dollar index touches 13-month high against major currencies. * Tech stock sell-off sparks safe-haven demand. * Yen slides despite Tokyo intervention warnings. By Jiaxing Li. The U.S. dollar extended gains to reach a fresh 13-month high against a basket of major currencies on Wednesday as investors sought shelter from a tech stock sell-off and positioned for Fed rate hikes.
Japanese government bonds held steady on Wednesday as investors weighed the timing of further central bank rate hikes and demand at debt auctions. Here are a few details: * The benchmark 10-year JGB yield slid 0.5 basis point to 2.670%. The five-year yield added 0.5 bp to 1.920%, marking a five-day streak of gains, the longest such run since May 20.
Gold extended losses on Wednesday, as
bets on U.S. interest rate hikes lifted the dollar, while
investors assessed conflicting signals on the U.S.-Iran peace
talks.
* Some saw shifting inflation expectations, boost from AI demand. * BOJ must bring rate closer to neutral as soon as possible. * One member called for rate hike once every few months. * Government urged BOJ to take action in event of economic swings. * BOJ raised policy rate to 1% in June, market sees more hikes. By Leika Kihara.
Some Bank of Japan board members called for further interest rate hikes to push the central bank's policy rate closer to levels deemed neutral to the economy, a summary of opinions at their June policy meeting showed on Wednesday. "Unlike in the United States and Europe, Japan's policy interest rate remains below the estimated range of the neutral interest rate.
Recognition highlights advanced manufacturing capabilities at Rockwell?s Singapore facility and the company?s role in scaling AI-driven transformation Rockwell Automation, Inc. (ROK), the world?s largest company dedicated to industrial automation and digital transformation, today announced its Singapore manufacturing facility has been named a member of the Global Lighthouse Network by the World Econo...
As expectations grow that the Federal Reserve may pivot toward monetary easing in the coming months, global financial markets are experiencing a renewed wave of risk appetite.
Latin American stocks and currencies
were swept up in a global market selloff on Tuesday as mounting
bets on U.S. Federal Reserve interest rate hikes curbed risk
appetite, while Colombian equities ...
The search process for the next president of the Federal Reserve Bank of Atlanta was reset when Kevin Warsh took over as the chairman of the U.S. central bank, CNBC reported on Tuesday, citing two unnamed people familiar with the matter. The extent of any changes to the process or the candidates under consideration is not clear.
* Fed rate hike bets build, support dollar. * Fed's Goolsbee says he is focused on inflation. * Dollar flat against yen as markets watch for intervention. By Chuck Mikolajczak.
Gold fell for a third session midafternoon on Tuesday as the dollar continued to climb after the Federal Reserve last week warned interest rates may rise as inflation continues to run ahead of its 2% target. Gold for August delivery was last seen down US$52.90 to US$4,149.20 per ounce.
The search process for the next president of the Federal Reserve Bank of Atlanta was reset when Kevin Warsh took over as the chairman of the U.S. central bank, CNBC reported on Tuesday, citing two unnamed people familiar with the matter. The Fed considered former Treasury Department official Michael Faulkender for the job, although his current status for the job could not be determined, CNBC said.
Canada's consumer price index rose in May, but it may mark the peak and keep the central bank on hold according to UBS Global Research, even as food-price inflation "is something to watch."
* US waives oil sanctions on Iran. * US PCE data due on Thursday awaited for Fed cues. * Silver drops 5%, platinum and palladium down over 2% By Sukanya Mitra and Anjana Anil. Gold prices fell on Tuesday as the U.S. dollar hit a one-year high on increased expectations of a Federal Reserve rate hike, outweighing support from softer oil prices amid progress in U.S.-Iran talks.
US private-sector output rose in June at the fastest pace in five months amid a solid expansion in the manufacturing sector, according to S&P Global's (SPGI) flash purchasing managers' index released Tuesday. The composite output index rose to 52.2 this month from 51.5 in May, compared with a 52.1 reading in a survey compiled by Bloomberg.
* Indexes: Dow flat, S&P down 1.12%, Nasdaq down 1.70% * Russell 2000 down 0.83% * Chip shares lead selloff. * CBOE Volatility index at an over one-week high. By Twesha Dikshit and Joel Jose.
Oil surging to more than $120 a barrel last spring cut about three-tenths of a percentage point from U.S. economic output, but the blow was a small fraction of what would have taken place from a similar oil shock in the 1980s when the country was more reliant on imports, a new Dallas Fed study estimated.
* Fed rate hike bets build, support dollar. * Fed's Goolsbee says focused on inflation. * Dollar flat against yen as markets watch for intervention. By Chuck Mikolajczak. The U.S. dollar rose to its highest level in more than a year on Tuesday as markets adjusted expectations for a more hawkish stance from the Federal Reserve, while a selloff in megacap stocks also buoyed the greenback.
LONDON, June 23, 2026 The UN Global Compact and the Sustainable Blue Economy Finance Initiative, hosted by the United Nations Environment Programme Finance Initiative, in collaboration with the Greening Financial Regulation Initiative of the World Wide Fund for Nature, today convened leading representatives from central banks, financial regulators, financial institutions, development finance in...
Bitcoin's slump to its lowest level since late 2024 reflects a hawkish Federal Reserve, exchange-traded fund outflows and a shift of capital into AI, the bank said.
Global imbalances are once more exerting pressure via trade, capital flows and financial markets, prompting questions about whether they will be managed ahead of time or corrected abruptly, said Bank of Canada Governor TIff Macklem on Tuesday.
* TSX down 0.3%, materials index leads losses. * Tech selloff spills into Canadian market. * Risks seen from global imbalances, says BoC's Macklem. By Tharuniyaa Lakshmi. Canada's main stock index fell on Tuesday, pressured by falling miners' shares and a tech-led selloff on Wall Street amid increased expectations of U.S. Federal Reserve rate hikes.
State-level data released by the Bureau of Labor Statistics Tuesday showed the unemployment rate fell in six states in May, rose in two and held steady elsewhere. The unemployment rate declined by 0.2 percentage point in South Carolina, Delaware, Ohio, Massachusetts, and Rhode Island, while it declined by 0.1 percentage point in South Dakota.
Gold fell for a third session early on Tuesday as the dollar continued climb after the Federal Reserve last week warned interest rates may rise as inflation continues to run ahead of its 2% target. Gold for August delivery was last seen down US$79.40 to US$4,123,30 per ounce.
* Indexes down: Dow 0.76%, S&P 1.54%, Nasdaq 2.04% * Russell 2000 down 1.74% * Mega-cap tech, chip shares lead selloff. * CBOE Volatility Index at an over one-week high. By Twesha Dikshit and Joel Jose.
U.S. manufacturing activity rose again in June as companies preemptively placed new orders in anticipation of shortages and higher prices, but factory employment hit a six-year low, blamed on rising operating costs related to the Middle East conflict.
* Manufacturing expanded for a fourth straight month, beating economists' expectations. * Supplier delivery times lengthened; now at slowest pace since August 2022. * Manufacturing employment fell to 47.0, the lowest reading since May 2020. * Factory new orders reached a more than four-year high, supported by front-running potential shortages and price hikes. By Lucia Mutikani.
* US waives oil sanctions on Iran. * US PCE data due on Thursday awaited for Fed cues. * Silver drops 5%, platinum and palladium down over 2% By Sukanya Mitra and Anjana Anil. Gold prices dropped on Tuesday as the U.S. dollar hit a one-year high on increased expectations of a rate hike from the Federal Reserve, outweighing support from softer oil prices amid progress in U.S.-Iran talks.
The Bank of Canada Governor Tiff Macklem said on Tuesday that global imbalances of financial flows, led by China's export surplus and the reliance of the United States on foreign capital, and may be fuelling financial stability risks.
Canada's main stock index opened lower on Tuesday as Wall Street's tech selloff hurt investor sentiment amid increased expectations for interest-rate hikes by the U.S. Federal Reserve. At 9:30 a.m. ET, the Toronto Stock Exchange's S&P/TSX Composite Index was down 0.5% at 34,828.29 points.
Morocco's central bank held its benchmark interest rate steady at 2.25% on Tuesday, judging that inflation was on track to meet its medium-term price stability target supported by improved economic growth. Inflation is expected to average 1.5% in 2026, before picking up to 2.1% in 2027, after hovering around 0.8% over the previous two years, the central bank said after its quarterly meeting.
* Futures down: Dow 0.47%, S&P 1.42%, Nasdaq 2.96% * Russell 2000 futures fall 1.6% * Mega-cap tech, chip shares lead selloff. * CBOE Volatility Index at an over one-week high. By Twesha Dikshit and Joel Jose.
A majority of U.S. consumers now say they would prefer to buy a home rather than rent or move in with family, the first time since 2023 that sentiment has favored homeownership, according to Bank of America's latest homebuyer insights report.
By Jamie McGeever. As the world marks the passing of former Federal Reserve Chair Alan Greenspan, who died on Monday aged 100, it's almost fitting that the U.S. central bank is entering a period of "less is more" when it comes to communications - something the "maestro" himself would have approved of.
A majority of U.S. consumers now say they would prefer to buy a home rather than rent or move in with family, the first time since 2023 that sentiment has favored homeownership, according to Bank of America's latest homebuyer insights report.
Signs that higher energy prices are feeding through into broader inflations measures are limited so far, which is "good news" for policymakers who are focused on growth, Bank of Montreal Capital Markets said on Monday.
KENNETT SQUARE, Pa., June 23, 2026 As professionals navigate layoffs, career transitions, and economic shifts, Jeff Ostroff, founder of Jeff Ostroff & Associates, LLC, is highlighting the timely value of his audiobook, 6 Great Global Opportunities for This Decade, published by Happyland Audiobooks.
Britain on Tuesday named former Bank of England rate-setter and academic economist Jonathan Haskel as its preferred choice to be the next chair of the Office for Budget Responsibility.
* Policymakers flag inflation risks as skewed to the upside. * Adopt longer horizon for inflation convergence to curb volatility. * Economists now see a possible pause in easing in August. By Marcela Ayres.
British finance minister Rachel Reeves on Tuesday nominated Jonathan Haskel, a former Bank of England policymaker, to chair the Office for Budget Responsibility, subject to approval before he takes up the role later this year.
* Gold market looking to $4,000/oz milestone for support - analyst. * Traders see 69% chance of rate hike in Sept - CME FedWatch. * US PCE data due on Thursday awaited for Fed cues. * Silver falls over 4%, platinum and palladium down over 2% By Sumit Saha.
Rosenberg Research said Tuesday that Canada's May inflation data offered little support for a more hawkish Bank of Canada stance, noting that only 38.6% of the core consumer price index basket is running above the central bank's 2% target. That compares with nearly 80% at the peak of the inflation cycle and a long-term average of 49%, according to Rosenberg Research.
ROSELAND, N.J., June 23, 2026 ?For the four weeks ending June 6, 2026, U.S. private employers added an average of 30,750 jobs per week, according to the NER Pulse, a weekly update of the monthly ADP National Employment Report. It was the first pickup in hiring since May 2, 2026. The NER Pulse is an estimate of the week-over-week change in employment based on a four-week moving average.
* German 2-year yields at largest discount to US since September. * Germany sold ?3.087 billion of 2-year debt at a 2.57% average yield. By Amanda Cooper. Euro zone sovereign bond yields fell for a second day on Tuesday as investors pared bets on further European Central Bank rate rises, while expectations grew that the Federal Reserve would keep hiking.
Brazil's central bank said on Tuesday that alternative interest rate paths to ensure inflation converges to its 3% target by the end of 2027 would require "abrupt changes in direction and of large magnitude in the Selic rate, followed by several quarters of inflation below the target."
The Canadian dollar weakened versus its US counterpart, driven by widening interest rate differentials, Societe Generale Economics said in a note on Tuesday. A larger gap between two-year U.S. Treasury and Canadian government bond yields pushed the U.S. dollar higher against the Canadian currency, with the exchange rate up to a 14-month high of almost $1.42, wrote the bank in its note.
* Fed rate hike bets build, support dollar. * Sliding yen fuels intervention jitters. * Pound softens after edging up on Monday. By Samuel Indyk and Jiaxing Li.
* TSX futures down 1.2% * Oil slips, gold down nearly 2% * Shopify (SHOP) to ban all vapes as soon as this week. Futures tracking Canada's blue-chip stocks edged lower on Tuesday as oil fell on easing supply concerns, while gold prices dropped amid expectations that the U.S. Federal Reserve could hike interest rates. September futures on the S&P/TSX index were down 1.2% at 6:45 a.m. ET.
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.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
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