Morning offer: Powell point presentation

Nov 30 (Reuters) – A look at the day ahead at Asian markets from Jamie McGeever. Fed Chairman Jerome Powell could set the market tone for the rest of the year on Wednesday when he talks about the U.S. economic outlook and labor market at an event in Washington. Considering how well stocks have held … Read more

One day, secretive job search becomes a darling of the Fed’s eye

WASHINGTON, Nov 29 (Reuters) – As a graduate student at Harvard University in the 1980s, Katharine Abraham tried to fill a gap in US economic data by compiling a labor demand estimate, essentially a best estimate of the number of open jobs in the United States. country. She drew on a patchwork of data, including … Read more

ECB warns of losses as it pays the price for ten years of money printing

FRANKFURT, Nov 29 (Reuters) – The European Central Bank on Tuesday warned it could lose money as high inflation forces it to raise interest rates and pay the bill for a decade of aggressive money printing. After raising interest rates to fight runaway prices, the ECB has to pay huge interest payments to commercial banks … Read more

The yuan is the new dollar as Russia rides to the redback

Russia turns to Chinese currency amid sanctions Moscow becomes No. 4 offshore yuan trading center Yuan’s share of Russian FX market jumps from 1% to 45% Russian central bank supports trend but warns of risks This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine MOSCOW/SHANGHAI, Nov 29 … Read more

Morning offer: crisis in China coming

Nov 28 (Reuters) – A look at the day ahead at Asian markets from Jamie McGeever. Purchasing managers index (PMI) data will be the main economic driver for Asian markets this week, but the tone will be set by the increasingly tense political situation in China. Thousands of people take to the streets in several … Read more

China’s industrial profits continue to fall as COVID woes take its toll on the economy

Jan-Oct industrial profit -3.0% yr/yr versus -2.3% in Jan-Sept Risks of domestic COVID outbreaks and global recession highlighted BEIJING, Nov 27 (Reuters) – Chinese industrial companies saw aggregate profits fall further in the January-October period as COVID-19 outbreaks flared and cities imposed new virus restrictions, including targeted lockdowns, dampening economic activity. Industrial profits fell 3.0% … Read more

Consumer inflation in Japan’s capital is rising at its fastest pace in 40 years

Tokyo Nov core CPI 3.6% higher than f’cast +3.5% Tokyo CPI remains above BOJ’s 2% target for the 6th consecutive month Data underscore rising inflationary pressures TOKYO, Nov 25 (Reuters) – Core consumer prices in Japan’s capital, a leading indicator of nationwide trends, rose in November at the fastest annual rate in 40 years, surpassing … Read more

The arms industry is booming as Eastern Europe arms Ukraine

E.Europe arms companies are ramping up production for Ukraine Hope to find new markets as defense spending rises Can manufacture and service Soviet-era and NATO-standard weapons for Poles, Czechs and major suppliers of military aid to Kiev The history of the industry stretches from 1800 to the Cold War PRAGUE/WARSAW, Nov 24 (Reuters) – Eastern … Read more

Bank of Canada says high rates are starting to work, housing and debt are a concern

OTTAWA, Nov. 22 (Reuters) – Higher interest rates are starting to slow Canada’s economy, the Bank of Canada said on Tuesday, putting pressure on highly indebted households and those who recently bought homes on variable-rate mortgages. “It will take time to get back to solid growth with low inflation, but we will get there,” Deputy … Read more

Europe hardest hit by global slowdown -OECD

Global growth to fall from 3.1% in 2022 to 2.2% in 2023 National outlooks vary widely, with the UK lagging behind other economies Central banks urged interest rates to keep raising rates PARIS, Nov. 22 (Reuters) – The global economy should avoid recession next year, but the worst energy crisis since the 1970s will trigger … Read more