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SINGAPORE (Reuters) - The dollar was on the front foot on Monday, supported by a strong run of economic data out of the ...
02/20/2023

SINGAPORE (Reuters) - The dollar was on the front foot on Monday, supported by a strong run of economic data out of the United States that traders bet will keep the Federal Reserve on its monetary policy tightening path for longer than initially expected.

The greenback firmed slightly against most major currencies in Asia trade, sending sterling 0.06% lower to $1.2035. Against the Japanese yen, the dollar stood near a roughly two-month high at 134.11.

Asian shares edged up from their lowest levels in about one month but trading was slow ahead of minutes of the last Fede...
02/20/2023

Asian shares edged up from their lowest levels in about one month but trading was slow ahead of minutes of the last Federal Reserve meeting and a reading on core inflation, with rising interest rates still seen as a risk for markets.

In Europe, money markets show that investors are already betting on a peak European Central Bank rate around 3.75% by late summer, up from levels around 3.4% earlier this month.

Hungary must bolster the independence of its judiciary "very soon" to stand a realistic chance of getting any of the 15....
02/18/2023

Hungary must bolster the independence of its judiciary "very soon" to stand a realistic chance of getting any of the 15.4 billion euros envisaged for Budapest from the European Union's COVID recovery stimulus, said a top official in the bloc.
Hungary can get some 5.8 billion euros ($6.20 billion) in free grants and another 9.6 billion euros in cheap loans from the EU but the bloc has suspended any payments until Budapest implements reforms to improve judicial independence and tackle corruption.

African countries are getting a raw deal from the international financial system which charges them "extortionate" inter...
02/18/2023

African countries are getting a raw deal from the international financial system which charges them "extortionate" interest rates, the U.N. chief said on Saturday, as he announced $250 million in crisis funding, including for famine risk on the continent.
The United Nations Secretary-General Antonio Guterres wants far-reaching reforms to the structure of international finance to serve the needs of developing countries more efficiently, he told the opening ceremony of the annual African Union summit in Ethiopia.

Proactive Investors - Retail sales bounced back in January, rising 0.5%, following a fall of 1.2% in December 2022 (revi...
02/17/2023

Proactive Investors - Retail sales bounced back in January, rising 0.5%, following a fall of 1.2% in December 2022 (revised from a fall of 1.0%) and better than City forecasts for a fall of 0.3%, according to figures from the Office for National Statistics.

Proactive Investors - Royal Mail workers solidified their stance in the dispute over pay and conditions on Thursday, vot...
02/17/2023

Proactive Investors - Royal Mail workers solidified their stance in the dispute over pay and conditions on Thursday, voting almost strongly in favour of renewed walkouts.

Some 115,000 Royal Mail staff from the Communication Workers Union (CWU) are now poised to add to the 18 days of walkouts since August, which have cost parent company International Distributions Services PLC (LSE:IDS) roughly £200mln.

(Reuters) - UK's FTSE 100 edged higher on Monday, supported by a strong performance by industrial technology firm Smiths...
02/16/2023

(Reuters) - UK's FTSE 100 edged higher on Monday, supported by a strong performance by industrial technology firm Smiths Group (LON:SMIN), even as investors maintained a cautious stance ahead of U.S. inflation data that should give clues on the future policy path.
The blue-chip FTSE 100 was up 0.2% by 0812 GMT, hovering close to its record-high levels scaled last week.

TOKYO/LONDON (Reuters) - The dollar edged toward a five-week high versus major peers on Monday as the Japanese yen slid ...
02/16/2023

TOKYO/LONDON (Reuters) - The dollar edged toward a five-week high versus major peers on Monday as the Japanese yen slid and investors increased bets on the Federal Reserve keeping monetary policy tight for longer.
The major event this week will be the release of U.S. consumer price data on Tuesday, which will drive expectations for the Fed's policy.

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