America
Dollar eases
The dollar edged down against a basket of currencies on Friday, pulled down by portfolio rebalancing, but was on track to end the week higher as fresh data reinforced the view the US economy remains on a firm footing.
US economy grows faster than expected
The US economy heated up more than expected in the third quarter, government data showed on Thursday, as a resilient job market helped boost consumer spending, holding off the prospect of a recession.
US budget deficit widens
The US budget deficit has widened to $1.7 trillion, government data showed on Friday, in a development that could add pressure on President Joe Biden as he seeks reelection in 2024.
Key US inflation measure ticks up
The key US inflation measure used by the Federal Reserve to set interest rates ticked up again in August, fueled by rising energy prices, according to government data published Friday.
Fed official calls for more rate hikes
The US Federal Reserve has more work to do to tackle high inflation despite making “considerable” progress in the last 18 months, a senior bank official said Friday.
Dollar up against major currencies
The US dollar advanced against a basket of currencies on Friday as the latest batch of data on business activity from around the globe highlighted the superior position of the United States relative to other major economies.
Fed holds interest rates at 22-year high
The US Federal Reserve voted Wednesday to keep interest rates at a 22-year high, while forecasting an additional rate hike before the end of the year to bring down inflation.
US jobs market solid
The US labor market is remarkably solid despite aggressive interest rate hikes to fight inflation and a recent rise in unemployment, but analysts warn that the central bank risks pushing too far.
US manufacturing slump continues into 10th month
The slump in US manufacturing activity continued for a 10th consecutive month in August amid ongoing softness in new orders, survey data showed Friday, with some signs pointing to an improving situation.
Oil jumps to highest in over seven months
Oil prices rose on Friday to their highest in over half a year and snapped a two-week losing streak, buoyed by expectations of tightening supplies.
Dollar gains after mixed jobs report
The dollar gained against the euro and Japanese yen on Friday after the August jobs report showed a still strong labour market, despite some signs of deterioration.
US jobless rate jumps
US job growth picked up in August, but the unemployment rate jumped to 3.8 percent and wage gains moderated, suggesting that labour market conditions were easing and cementing expectations that the Federal Reserve will not raise interest rates this month.
Fed may need to raise interest rates further
The Federal Reserve may need to raise interest rates further to cool still-too-high inflation, Fed Chair Jerome Powell said on Friday, promising to move with care at upcoming meetings as he noted both progresses made on easing price pressures as well as risks from the surprising strength of the US economy.
Dollar holds steady
The US dollar held steady on Friday, on pace to finish the week strong, after Federal Reserve Chair Jerome Powell said the central bank may need to raise interest rates further to ensure inflation is contained but promised to move “carefully” at upcoming meetings.
Oil futures up 1%
Oil futures climbed about 1 percent to a one-week high on Friday as US diesel prices soared, the number of oil rigs dropped, and a fire broke out at a refinery in Louisiana.
US jobless claims fall
The number of Americans filing new claims for unemployment benefits fell last week, as labour market conditions remained tight despite the Federal Reserve’s aggressive interest rate hikes.
Chinese developer Evergrande files for bankruptcy protection
Embattled Chinese property giant Evergrande Group filed for bankruptcy protection in the United States on Thursday, court documents showed, a measure that protects its US assets while it attempts to restructure.
US accuses China firms of evading solar panel tariffs
Several Chinese manufacturers of solar panels have been shipping their products through third countries including Thailand and Vietnam to circumvent US tariffs, the Commerce Department announced Friday.
