The Canadian economy remains under pressure despite the resource sector's strong performance, as trade tensions with the United States continue to hold back non-resource exports, said National Bank of Canada.
The US dollar rose against its major trading partners early Tuesday after the long holiday weekend and before a busy week of economic data releases that includes the second estimate of Q1 GDP and personal income and spending data for April later in the week.
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Brazil's current account deficit reached $1.765 billion in April, central bank data showed on Tuesday, larger than the $200 million shortfall expected by economists in a Reuters poll. Foreign direct investment for the month landed at $8.912 billion, beating the $5.4 billion projected in the poll.
J-Star Holding Co., Ltd. (YMAT) today announced that its subsidiary YMA Corporation has received formal authorization from the Central Bank of Taiwan to initiate under the Sovereign-Backed financing framework for the Company?s strategic U.S. infrastructure expansion initiative under YMA INC. Pursuant to the formal authorization from the Central Bank of Taiwan, the Company is preparing to select a desi...
Wall Street banks are pushing the Federal Reserve behind the scenes to cement its new supervisory regime so the changes cannot easily be reversed by potential future Democratic administrations, said four people with knowledge of the matter.
* Brent crude oil rises after US military strikes Iran. * Rubio says Iran deal could take days. * UBS lowers year-end gold price target by $400 to $5,500. By Noel John. Gold fell on Tuesday, weighed down by fears of elevated inflation after renewed U.S.-Iran tensions pushed up Brent prices and clouded the U.S. interest rate outlook. Spot gold was down 1.1% at $4,521.80 per ounce, as of 0737 GMT.
Hungary's forint eased on
Tuesday ahead of a meeting of the National Bank of Hungary later
in the day where analysts expect the base rate to be kept on
hold amid a rise in energy prices and ...
Copper prices edged lower on Tuesday, pressured by higher oil prices after the latest U.S. strikes on Iran dampened hopes of a resolution to the Middle East conflict, driving concerns over the global economic outlook. Three-month copper on the London Metal Exchange was down 0.2% at $13,637.50 a metric ton by 0746 GMT.
The CNN Money Fear and Greed index showed some improvement in the overall market sentiment, while the index remained in the ?Greed? zone on Friday. U.S. stocks settled higher on Friday, with the Dow Jones index recording another record close as diplomatic signals on Iran helped cool oil and pulled Treasury yields lower for a third consecutive session.
* Seeing signs of energy inflation spillovers. * Economic growth may turn out weaker than projected. * Bond yield volatility not concerning. * Markets see almost three rate hikes over the next year. By Balazs Koranyi and Reinhard Becker.
London copper held steady on Tuesday,
as support from a weaker dollar was offset by higher oil prices
after the latest U.S. strikes on Iran dampened hopes of a swift
resolution to the Middle East ...
B2Gold Corp. (BTG) is pleased to announce that it has published its tenth annual Responsible Mining Report entitled ?Raising the Bar?, which details B2Gold's (BTG) global economic contributions and its environmental, social, and governance management practices, together with the Company's performance against key indicators in 2025.
Senegal President Bassirou Diomaye Faye named a seasoned economist as prime minister on Monday, three days after dismissing the old government led by a firebrand populist who had spoken out against debt restructuring. The new prime minister, Ahmadou Al Aminou Lo, formerly served as head of the Senegal branch of the Central Bank of West African States.
The Russian central bank said on Monday it had filed a second claim with the General Court of the European Union, challenging the EU regulation that allows the use of Russia's frozen sovereign assets to repay the EU's loan to Ukraine.
National Bank of Canada on Monday reiterated its outperform rating on the shares of Agnico Eagle Mines (AEM) and its C$350.00 price target after the company decided to go ahead with development of the Hope Bay mine in Nunavut.
National Bank of Canada on Monday maintained its outperform rating on the shares of Pembina Pipeline (PBA) an its C$63.00 price target after the company decided to proceed with the Heartland Extraction Plant.
Two Bank of Canada events might garner some attention this week, said Scotiabank. External Part-Time Deputy Governor Nicolas Vincent speaks on "the labour market and structural change in the Canadian economy" on Tuesday. Then two days later, Governor Tiff Macklem unveils the semi-annual Financial Stability Report and Financial System Survey, noted the bank.
Mozambique's central bank left its main interest rate unchanged at 9.25% on Monday. Governor Rogerio Zandamela told a press conference that the decision reflected high levels of uncertainty over the length of the Iran war and its impact on supply chains and prices of fuel and food.
The Bank of Israel lowered short-term interest rates for the third time in six months on Monday as inflation remained contained despite a war with Iran, while the shekel stands at a three-decade high against the dollar.
Euro zone government bond yields fell to their lowest levels in about a month on Monday as renewed hopes of a U.S.-Iran deal to reopen the Strait of Hormuz eased concerns over inflation and reduced expectations of aggressive central bank policy tightening. Diplomatic efforts to resolve the Iran war seemingly continued after Iran and the United States played down hopes for an imminent breakthrough.
Prominent economist Mohamed A. El-Erian is warning about a shift in market dynamics, warning that investors can no longer count on traditional central bank interventions to rescue underperforming assets. According to a Substack post by El-Erian, the global economy has entered a complex environment where traditional safety nets are fading.
Statistics Canada will release on Friday the gross domestic product figures for Q1 on a complete expenditure accounts basis, plus monthly GDP estimates for March, April, and any revisions to prior months, said Scotiabank. They will be backward-looking, but a round of GDP figures will help the bank understand more about the momentum into the commodities shock.
Canada's key release this week is the Q1 real gross domestic product on Friday, said Bank of Montreal. Q1 GDP looks to rebound 1.5% annualized after contracting modestly in Q4, noted the bank.
Canadian financial markets seemingly "exhaled" a bit last week, "catalyzed" by constructive developments for the inflation backdrop, said TD. One important trigger was messaging that a United States-Iran deal may be in its final stages, noted the bank. The other major catalyst was an April inflation report that was soft at its core. Markets were braced for a "3-handle" on inflation last month.
Canada will release gross domestic product data for Q1 on Friday, said RBC. Canada's economy likely returned to growth in Q1 with GDP bouncing back by an annualized 1.7% after declining 0.6% in Q4, supported by improving domestic growth drivers, noted the bank.
* Oil prices fall below $100 a barrel. * Dollar eases as investors move out of the safe-haven currency. * US markets closed for Memorial Day holiday. By Noel John. Gold rose more than 1% on Monday as hopes of a peace deal to end the Iran war sent the dollar and oil prices lower, easing fears of inflation and higher-for-longer interest rates.
By Howard Schneider and Jacob Bogage. Former U.S. Federal Reserve Chair Jerome Powell was a handy foil for President Donald Trump, a target of blame for everything from high mortgage interest rates to the pace of economic growth.
By Howard Schneider and Jacob Bogage. Former U.S. Federal Reserve Chair Jerome Powell was a handy foil for President Donald Trump, a target of blame for everything from high mortgage interest rates to the pace of economic growth.
Euro zone government bond yields fell on Monday as renewed hopes of a U.S.-Iran deal to reopen the Strait of Hormuz eased concerns over inflation and reduced expectations of aggressive central bank policy tightening. Borrowing costs tracked moves in oil prices, which slid 5% amid optimism over a resolution of the conflict, even as key sticking points remained unresolved.
Euro zone government bond yields fell on Monday as renewed hopes of a U.S.-Iran deal to reopen the Strait of Hormuz eased concerns over inflation and reduced expectations of aggressive central bank rate rises.
* U.S. blockade on Hormuz to stay until agreement with Iran: Trump. * Oil prices fall to two-week low. * Kevin Warsh sworn in as U.S. Fed Chair. By Pablo Sinha. Gold prices rose more than 1% on Monday, as optimism for a breakthrough in U.S.-Iran peace negotiations weakened the dollar and eased oil prices, which softened the inflation outlook.
* U.S. blockade on Hormuz to stay until agreement with Iran: Trump. * Oil prices fall to two-week low. * Kevin Warsh sworn in as U.S. Fed Chair. By Pablo Sinha. Gold prices rose more than 1% on Monday, supported by a weaker dollar and easing oil prices, as investors weighed prospects of a breakthrough in U.S.-Iran peace negotiations. Spot gold was up 1.1% at $4,559.29 per ounce, as of 0359 GMT.
Gold prices rose more than 1% on Monday, supported by a weaker dollar and lower oil prices, as investors weighed prospects of a breakthrough in U.S.-Iran peace negotiations. FUNDAMENTALS. * Spot gold rose 1.4% to $4,570.88 per ounce by 0045 GMT. * The dollar fell, making greenback-priced bullion more affordable for holders of other currencies.
* PCE inflation gauge due on Thursday. * Salesforce (CRM), Costco, Best Buy (BBY) among reports due as robust Q1 comes to end. * Bond market selloff in view as Treasury yields hit milestones. By Lewis Krauskopf.
Bangladesh's central bank on Saturday announced a 600 billion taka stimulus package to revive shuttered factories and support businesses as economic growth slows.
* European stocks end at highest in over a month. * Dollar holds higher; oil prices settle up. * Dow posts record closing high for second day. By Caroline Valetkevitch and Stefano Rebaudo. Major stock indexes rose and Treasury yields eased on Friday as investors weighed the likelihood of a near-term deal to end the U.S.-Israeli war with Iran.
Shorter-dated U.S. Treasury yields shot up on Friday as investors digested data pointing to all-time low U.S. consumer sentiment in May. The two-year Treasury note yield, which typically moves in step with interest rate expectations for the Federal Reserve, was last up 4.4 basis points at 4.123%. Five-year Treasury yields were up 1.3 bps at 4.255%, while the yield on the benchmark 10-year Treas...
The U.S. Federal Reserve on Friday said Kevin Warsh had taken the oath of office as chairman and member of the Board of Governors, and that its interest-rate-setting Federal Open Market Committee had unanimously selected him as its chairman. Warsh earlier on Friday was sworn into office at the White House by President Donald Trump.
A pair of U.S. banking regulators have signed off on plans submitted by the nation's largest banks detailing how they could be safely unwound in bankruptcy. The Federal Reserve and Federal Deposit Insurance Corporation did not identify any shortcomings in the so-called "living wills" of the nation's 8 largest banks and 56 foreign banking organizations.
* US stocks higher. * European stocks end at highest in over a month. * Dollar holds higher; oil prices settle up. By Caroline Valetkevitch and Stefano Rebaudo. Major stock indexes rose and Treasury yields eased on Friday as investors weighed the likelihood of a near-term deal to end the U.S. and Israeli war on Iran. Oil prices gained as much uncertainty surrounding the Iran talks remained.
* PC makers Dell, HP surge after Lenovo (LNVGF) reports revenue jump. * Est?e Lauder climbs after ending merger talks with Puig. * Kevin Warsh sworn in as Fed chair. * S&P 500 eyes 8th weekly gain, longest streak since December 2023. * Indexes up: Dow 0.86%, S&P 500 0.62%, Nasdaq 0.50% By Chibuike Oguh, Shashwat Chauhan and Medha Singh.
President Donald Trump told the room he wants Kevin Warsh ?totally independent? as he swore him in as Federal Reserve chairman Friday, then spent the next hour arguing the economy can boom without inflation. The price data has other ideas.
Newly Sworn-In Fed Chair Kevin Warsh was sworn in, saying that he intends to be reform-oriented and abandoning old models that were not serving the Fed's mission. Fed Governor Christopher Waller suggested that the Fed's policy rate could remain on hold for some time, indicating that the risks are tilting back toward inflation.
The University of Michigan consumer sentiment index for May was revised lower to a record low 44.8 from the preliminary estimate of 48.2 and was well below April's reading of 49.8. Michigan said that inflation expectations increased in May, lifting cost-of-living concerns. The Kansas City Fed's services index rose to 10 in May from 3 in April.
Kevin Warsh took charge of the Federal Reserve on Friday, replacing former Chair Jerome Powell amid growing signs of division at the central bank as inflation heats up. Warsh, who served as a governor on the Fed's board from 2006 to 2011, is US President Donald Trump's pick to lead the institution.
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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