Most Asian currencies fell on Friday, and were set to close the week lower following hawkish comments from several Federal Reserve officials, as well as growing concerns over a potential recession this year. China-exposed currencies were the worst performers this week, even as data released earlier showed that
Read MoreOil prices rose further on Friday, and were set to end the week higher as optimism over an eventual recovery in Chinese demand this year largely offset fears that a global economic slowdown will dent crude markets. Markets are betting on a strong boost to the Chinese economy
Read MoreDr. Martens (LON:DOCS) stock plunged at the open on Thursday to a new all-time low, after the bootmaker was forced to cut its forecasts once again in response to problems in North America. Dr. Martens said a variety of operational problems had created a bottleneck at its new
Read MoreMost Asian currencies retreated on Thursday as weak U.S. economic data pushed up fears of a potential recession, while the Japanese yen recouped most of its recent losses on speculation that the Bank of Japan may yet increase its yield control range. The yen was the best-performing Asian
Read MoreThe Australian dollar reversed a recent rally on Thursday, as rising fears of a U.S. recession and soft local jobs data knocked the risk-sensitive currency, while the kiwi was little moved by the resignation of Prime Minister Jacinda Ardern. The Aussie eased 0.4% to 0.6910%, the softest level
Read MoreThe Bank of Japan (BOJ) kept its benchmark interest rates unchanged as expected on Wednesday, and also maintained its current rate of yield curve control, ducking market expectations for more hawkish signals. The Japanese yen plummeted after the move, dropping over 2% to 130.75 against the dollar, while
Read MoreThe U.K. labor market stayed stronger than expected in December, with the number of benefit claimants rising only moderately. At the same time, wage growth in November, the last month for which data are available, grew more strongly than expected, rising 6.4% on the year, according to the
Read MoreThe Chinese economy grew at a slower pace in the fourth quarter of 2022, data showed on Tuesday, as disruptions caused by the country’s now relaxed zero-COVID policy weighed heavily on business activity, although the reading still beat expectations. Chinese gross domestic product (GPD) grew at an annualized
Read MoreOil prices fell Monday, consolidating after last week’s strong gains ahead of the release of demand forecasts from the OPEC and the IEA as well as a deluge of potentially influential economic data due this week. By 04:35 ET (09:35 GMT), U.S. crude futures traded 0.7% lower at
Read MoreMost Asian stock markets surged on Monday, with Chinese indexes in the lead after the government rolled out more stimulus measures, while fears of more hawkish moves from the Bank of Japan saw local stocks tumble. China’s blue-chip Shanghai Shenzhen CSI 300 index was the best performer in
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