Brent crude futures edged up on Tuesday as optimism that government stimulus will buoy global economic growth and oil demand trumped concerns that renewed COVID-19 pandemic lockdowns globally could cool fuel consumption. Brent crude futures for March rose 17 cents, or 0.3%, to $54.92 a barrel by 0150 GMT after slipping 35 cents in the previous session.
The Canadian dollar weakened
against its U.S. counterpart on Monday, extending a pullback
from a near three-year high, as rising coronavirus cases
globally weighed on investor sentiment and ahead of ...
The head of the International Monetary Fund said on Monday the global economic outlook remained highly uncertain given the coronavirus pandemic, and a growing divergence between rich and poor countries required the IMF to find more resources.
The European Union needs a "masterplan" to move euro financial services from London to the bloc if it wants to expand the single currency's role in a global economy dominated by the U.S. dollar, a senior EU lawmaker said on Monday. Markus Ferber, a senior member of the European Parliament, said if the EU wants to compete with the greenback, it needs a financial system to match it.
OTTAWA--Foreigners bought more Canadian securities in November, while Canadians increased their holdings of foreign securities. Nonresidents bought a net 11.78 billion Canadian dollars in Canadian securities in November, Statistics Canada said Monday. In the previous month, nonresidents purchased C $6.93 billion in Canadian securities.
OTTAWA--Canadian housing starts declined in December from the previous month, although in line with market expectations. The previous month's data were revised higher. Housing starts for December came in at a seasonally adjusted annualized rate of 228,279 units, an decrease of 12.8% from a revised 261,152 units in the previous month, Canada Mortgage and Housing Corp. said Monday.
Canadian housing starts fell 12.2% in December compared with the previous month, with a reduction in urban starts driven by a 15.1% decline in multiple-unit starts, data from the national housing agency showed on Monday. The seasonally adjusted annualized rate of housing starts fell to 228,279 units from a revised 259,949 units in November, the Canadian Mortgage and Housing Corporation said.
Economic activity in Brazil rose a seasonally-adjusted 0.59% in November, a central bank indicator showed on Monday, slightly more than the 0.5% forecast in a Reuters poll of economists but the smallest of seven consecutive monthly increases.
Five of six rate setters at the Bank of Israel voted to keep the benchmark interest rate at 0.1% on Jan. 4, minutes of the discussions showed on Monday.
BEIJING--China's geopolitical rise over the past four decades has been fueled by sizzling economic growth that regularly featured years of double-digit percentage-point gains. In 2020, China advanced its aspirations by simply emerging with its growth intact from a brutal year when a pandemic shook the world economy. On Monday, Beijing said its gross domestic product rose 2.3% last year.
China Is Only Major Economy to Report 2020 Growth. China's economy expanded by 2.3% in 2020, roaring back from a historic contraction in the early months of the year to become the only major world economy to grow in what was a pandemic-ravaged year. Yellen to Make Clear U.S.
The Austrian National Bank on Monday said it expected consumer prices harmonized with inflation data from other European Union countries to rise by 1.4% in 2021. It sees this inflation rate at 1.7% in 2022 and 2023 respectively, it said.
China Is Only Major Economy to Report 2020 Growth. China's economy expanded by 2.3% in 2020, roaring back from a historic contraction in the early months of the year to become the only major world economy to grow in what was a pandemic-ravaged year. Yellen to Make Clear U.S.
Japanese government bond yields rose after a local media report that the central bank might widen the band of its policy target of 10-year yield and allow further rises when it reviews its policy framework in March. Jiji press reported on Friday the Bank of Japan could enlarge the current 10-year yield target of 0.2%, or 20 basis point above or below zero percent, to allow more policy flexibility.
The European Central Bank will this week face more questions about an increasingly challenging outlook only a month after it unleashed fresh stimulus to bolster the euro zone economy. Policymakers boosted emergency bond buys by 500 billion euros in December.
China Is Only Major Economy to Report 2020 Growth. China's economy expanded by 2.3% in 2020, roaring back from a historic contraction in the early months of the year to become the only major world economy to grow in what was a pandemic-ravaged year. Yellen to Make Clear U.S.
BEIJING--China's economy expanded by 2.3% in 2020, roaring back from a historic contraction in the early months of the year to become the only major world economy to grow in what was a pandemic-ravaged year. China's ability to expand, even as the world struggled to control a deadly virus that has killed more than two million people, underscores the country's success in largely taming the coronavirus within its borders and further cements its place as the dominant economy in...
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * China Q4 GDP rises 6.5% y/y, but retail sales miss forecasts. * US dollar, Treasuries hold gains as risk appetite sours. By Wayne Cole. Asian shares pared early losses on Monday as data confirmed China's economy had bounced back last quarter as factory output jumped, helping partially offset recent disappointing news on U.S. consumer spending.
China Is Only Major Economy to Report 2020 Growth. China's economy expanded by 2.3% in 2020, roaring back from a historic contraction in the early months of the year to become the only major world economy to grow in what was a pandemic-ravaged year. China's Industrial Sector Continues to Lead Recovery.
BEIJING--China's economy expanded by 2.3% in 2020, roaring back from a historic contraction in the early months of the year to become the only major world economy to grow in what was a pandemic-ravaged year. China's ability to expand, even as the world struggled to control a deadly virus that has killed more than two million people, underscores the country's success in largely taming the coronavirus within its borders and further cements its place as the dominant economy in...
* China GDP up 6.5% y/y in Q4, vs Q3's 4.9% * 2020 growth at 2.3%, lowest in more than four decades. * Recovery seen gaining further steam in 2021 but risks linger. * Leaders rule out policy U-turn amid pandemic. By Gabriel Crossley and Kevin Yao.
sources
The Reserve Bank of India (RBI) is likely to propose tightening rules on
"shadow banks" in a bid to strengthen solvency and sustainability of a sector
that has been showing ...
BEIJING--China's industrial production and investment continued to lead the nation's economic recovery in the final month of 2020, while domestic consumption cooled amid new coronavirus infections across northern China. China's industrial output rose 7.3% in December from a year earlier, accelerating from 7.0% growth in November and beating expectations for a 6.8% increase among economists polled by The Wall Street Journal. For the full year, Chinese industrial...
* Asian stock markets : https://tmsnrt.rs/2zpUAr4. * China Q4 GDP rises 6.5% y/y, but retail sales miss forecasts. * US dollar, Treasuries hold gains as risk appetite sours. By Wayne Cole. Asian share markets pared early losses on Monday as data confirmed China's economy had bounced back last quarter as factory output jumped, helping offset recent disappointing news on U.S. consumer spending.
BEIJING--China's economy expanded by 2.3% in 2020, roaring back from a historic contraction in the early months of the year to become the only major world economy to grow in what was a pandemic-ravaged year. China's ability to grow, even as the world struggled to control a raging pandemic that has killed more than two million people, underscores the country's success in largely taming the coronavirus within its borders and further cements its place as the dominant economy in...
* China GDP up 6.5% y/y in Q4, vs Q3's 4.9% * 2020 growth at 2.3%, lowest in more than four decades. * Recovery seen gaining further steam in 2021. * Leaders rule out policy u-turn amid pandemic.
China's industrial output rose at a faster-than-expected rate of 7.3% in December from a year ago, data showed on Monday, expanding for the ninth straight month as the vast manufacturing sector, aided by strong exports, continues its post-COVID recovery. Analysts polled by Reuters had expected annual industrial output growth to have eased to 6.9% in December from 7.0% in November.
China's economic recovery beat analyst expectations in the fourth quarter, expanding 6.5% from a year earlier, data from the National Bureau of Statistics showed on Monday. The gross domestic product growth was faster than the 6.1% forecast by economists in a Reuters poll, and followed 4.9% growth in the third quarter.
* Graphic: World FX rates https://tmsnrt.rs/2RBWI5E. The dollar held late-week gains on Monday as softening U.S. economic data and rising coronavirus cases turned investors cautious. Against a basket of currencies the dollar hovered around a one-month high of 90.887 hit in early trade and the mood also supported the safe-haven yen against other majors.
* China GDP seen growing 6.1% y/y in Q4, vs Q3's 4.9% * Recovery seen gaining further steam in 2021. * Leaders rule out policy u-turn amid pandemic. * Q4 GDP, Dec activity data due Jan 18 at 0200 GMT. By Kevin Yao.
The International Monetary Fund projects Chinese state-sector reform could improve Chinese productivity and lift overall GDP growth to 6.5% in 2022 from 5.7%, as estimated by the IMF. "China's Economic Recovery Belies a Lingering Productivity Challenge" at 7 a.m. ET incorrectly said the IMF estimated the improved productivity would lift GDP to 6% in 2022 from 5.2%.
Lawyers for Venezuela's central bank on Thursday said opposition leader Juan Guaido rejected a proposed deal to buy coronavirus vaccines in Britain, an assertion the opposition dismissed as false.
The UBS Board of Directors announced today that Beatrice Weder di Mauro is not standing for re- election to the Board of Directors of UBS Group AG (UBS) and UBS AG. She has informed the Board of her decision to step down after serving since 2012.. UBS Chairman Axel A. Weber: "We will miss Beatrice's experience and expertise in international economic and financial matters.
Friday?s data showed economic weakness. Consumers, the drivers of the economy, pulled back during the holiday season and have exhibited weakening sentiment.
The Federal Reserve has no plans to dial back its super-easy policy even as the incoming Biden administration lobbies for a new and massive round of stimulus that sets the economy up for faster growth once vaccines are fully rolled out.
U.S. Treasury yields fell on
Friday after retail sales data came in below economists'
expectations and following President-elect Joe Biden's proposed
$1.9 trillion stimulus program.
The following are forecasts for next week's U.S. data from a survey compiled by The Wall Street Journal. DATE TIME RELEASE PERIOD CONSENSUS PREVIOUS Wednesday 1000 Housing Market Index Jan 85 86 Thursday 0830 Jobless Claims Jan 16 945 K 965 K 0830 Housing Starts Dec 1.56 M 1.547 M-- percent change Dec +0.8% +1.2% 0830 Building Permits Dec 1.61 M 1.639 M-- percent change Dec -1.8% +6.2% 0830 Phila Fed Mfg Svy Jan 13.3 11.1 Friday 0945 Markit Flash Mfg PMI Jan 57.0 57.1* 0945 Markit Flash...
Federal Reserve Bank of Boston President Eric Rosengren said on Friday he welcomes President-elect Joe Biden's proposed $1.9 trillion stimulus package as "big" but "appropriate," and signaled the Fed has no inclination to dial back from its own super-easy monetary policy.
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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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