UK Inflation, Highest In Western Europe, Falls Only A Little In March

2023-04-19 | Commodities , Current Affairs , Forex , Futures , Precious Metals , Securities , Spot Indices

LONDON, April 19 (Reuters) – Britain now has western Europe’s highest rate of consumer price inflation after it fell by less than expected in March to 10.1% from February’s 10.4%, official data showed on Wednesday.

Economists polled by Reuters had forecast that the annual CPI rate would drop to 9.8% in March, moving further away from October’s 41-year high of 11.1% but still eating into the spending power of workers whose pay is rising by less.

Full coverage: REUTERS

Once Booming Indian Startups Set For More Pain As Funding Crunch Worsens

MUMBAI, April 19 (Reuters) – A funding squeeze at Indian startups that has already led to layoffs and delayed stock listings is set to worsen as investors reckon with stretched valuations and faltering consumption growth, likely laying the ground for industry consolidation.

Startups in India raised just $2 billion in the first quarter of 2023, 75% lower than the same period of last year, and the smallest quarterly number in nearly three years, figures from data firm CB Insights showed.

Full coverage: REUTERS

Stocks Slip As Focus Turns Back To Fed And Inflation

SINGAPORE, April 19 (Reuters) – Stocks sagged in cautious trade on Wednesday, while the dollar paused its recent decline as expectations for an imminent peak in the Federal Reserve’s interest rate cycle edged ahead of U.S. banking sector concerns.

MSCI’s index of Asia shares outside Japan (.MIAPJ0000PUS) dropped 0.4% to retreat further from Monday’s two-month high, and Japan’s Nikkei (.N225) looked set to snap an eight-day winning streak with a modest 0.3% loss.

Full coverage: REUTERS

Oil Dips As Potential Fed Rate Hike Overshadows Falling Stocks

April 19 (Reuters) – Oil dropped on Wednesday as the market weighed potential interest rate hikes from the U.S. Federal Reserve that could slow growth and dampen oil consumption, offsetting falling U.S. inventories and strong Chinese economic data.

Brent crude futures shed 35 cents, or 0.4%, to $84.42 a barrel as at 0641 GMT. West Texas Intermediate U.S. crude fell 33 cents, also 0.4%, to $80.53 a barrel.

The U.S. central bank likely has one more interest rate rise in store to fight inflation, Atlanta Fed President Raphael Bostic said on Tuesday.

Full coverage: REUTERS

Morning Bid: Sterling’s Inflation Test

A look at the day ahead in European and global markets from Tom Westbrook

Traders are scaling back bets on U.S. rate cuts, but dialling up expectations for British hikes.

On Tuesday, it was bigger-than-expected pay rises that strengthened expectations for the Bank of England to lift rates next month and to continue doing so thereafter. Sterling rose. Ten-year gilt yields climbed for a sixth straight session.

Full coverage: REUTERS

Current AffairsIconBrandElement

article-thumbnail

2025-01-13 | Current Affairs

Dollar Surge Pressures Global Currencies Amid Fed Uncertainty

The U.S. dollar climbed sharply on Monday, reaching multi-year highs against other currencies after an unexpectedly strong U.S. jobs report highlighted the resilience of the American economy

article-thumbnail

2025-01-10 | Current Affairs

Musk Urges State AGs to Facilitate OpenAI Stake Auction

Musk’s lawyer submitted a letter requesting the states to ensure an open bidding process to safeguard public interest as OpenAI move away from nonprofit control

article-thumbnail

2025-01-09 | Current Affairs

Global Stocks Struggle Amid Rising Treasury Yields and Tariff Concerns

TODAY’S NEWS The ongoing selloff in global bonds intensified on Wednesday, weighing on Wall Street stocks and bolstering the dollar as robust U.S. economic data lowered hopes for imminent aggressive interest rate cuts by the Federal Reserve. The 10-year U.S. Treasury yield climbed to a peak of 4.73%, the highest since April 2024, before settling […]