Currencies

Rupee rally unabated; analysts abandon bearish outlook

MUMBAI -The Indian rupee rose sharply in early trading on Friday to climb past 84 per U.S. dollar for the first time since October 2024, driven by heavy dollar sales from foreign banks and strength...

US dollar retreats, but off lows, after solid jobs report

The U.S. dollar fell on Friday, but trimmed losses against the euro and yen, after data showed the world's largest economy added more new jobs than expected last month, reflecting a labor market that...

US blacklist on China is riddled with errors, outdated details

Doris Au, a seller of door locks and hardware in Hong Kong for 25 years, received a letter from her bank, DBS Group, last June stating that her business account would be closed. The bank gave little...

Canadian factory PMI hits near five-year low on tariff uncertainty

TORONTO -Canadian manufacturing activity contracted in April at the steepest rate since shortly after the start of the COVID-19 pandemic as the uncertain nature of U.S. trade policy weighed on...

Sterling steady against dollar and euro, manufacturing activity shrinks

LONDON -Britain's pound was steady against the dollar on Thursday but remained close to a three-year high reached earlier in the week as investors shunned the U.S. currency in the wake of U.S....

Yen slides with JGB yields after BOJ cuts growth forecasts

TOKYO -The Bank of Japan cut its growth and inflation forecasts on Thursday while refraining from raising interest rates against a backdrop of uncertainty created by Washington's aggressive and...

Russia hikes 2025 deficit forecast threefold due to low oil price risks

MOSCOW -Russia's finance ministry raised the 2025 budget deficit estimate to 1.7% of gross domestic product on Wednesday from 0.5% after reducing the energy revenues forecast by 24% due to...

Russia sees 2025 economic growth at 1.8% in 'trade war' scenario

MOSCOW -International trade wars, triggered by the United States' protectionist policies, pose a key risk to the Russian economy, according to the country's Economy Ministry, which published its...

Bank of Canada governing council mulled cutting rates again in April

The Bank of Canada discussed whether to cut rates again earlier this month but decided not to given the uncertainty caused by U.S. tariffs, according to minutes of discussions released on Wednesday. ...

Russian GDP up 1.4% in March, economy ministry says

MOSCOW -Russia's gross domestic product grew by 1.4% in March year-on-year after expanding by 0.7% in February, the economy ministry said on Wednesday. For the first quarter this year,...

Stocks log worst 100 day start since Nixon as Trump injects semi-permanent uncertainty

NEW YORK -President Donald Trump's first 100 days in office delivered the worst start for stocks since former President Richard Nixon's second term in 1973, stoked volatility across markets and...

US consumer confidence plunges in April

U.S. consumer confidence slumped to a nearly five-year low in April as growing concerns over tariffs weighed on the economic outlook. The Conference Board said on Tuesday its consumer...

China ramps up global yuan push, seizing on retreating dollar

SHANGHAI/SINGAPORE -As Chinese President Xi Jinping toured Southeast Asia this month to forge closer ties against higher U.S. tariffs, the People's Bank of China was seizing a moment of confusion and...

Kenyan shilling steady amid scant activity

NAIROBI -The Kenyan Shilling was steady against the dollar in early trade on Tuesday with traders noting minimal activity on both the demand and supply sides. As of 0745 GMT, commercial...

DAX Continues Upward Trend - Porsche Stumbles

Despite ongoing uncertainties surrounding the tariff dispute, DAX investors are once again showing confidence. Germany's benchmark index opened Tuesday up 0.5 percent at 22,377 points. With every...

Rupee hit by geopolitical jitters, volatility jumps to two-year peak

The Indian rupee swung sharply before ending lower on Tuesday as the possibility of rising tensions between India and Pakistan remained front and centre for traders, pushing the currency's near-dated...

Rupee to weaken after Pakistan official's comments heighten cross-border risks

MUMBAI -The Indian rupee is set to weaken on Tuesday after comments from Pakistan's defence minister warning of an imminent military incursion by New Delhi raised concerns about a further increase in...

US dollar regains poise on easing trade worries, month-end buying

NEW YORK -The U.S. dollar advanced on Tuesday, lifted by the Trump administration's plan to ease the impact of auto duties on local car manufacturers as well as the prospect of more tariff deals with...

Landlocked Burkina, Mali, Niger back sea access through Morocco

RABAT -Foreign ministers of military-ruled Sahel states of Burkina Faso, Mali and Niger said on Monday they endorse an initiative offering them access to global trade through Morocco's Atlantic...