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Traders also awaited policy decisions from the European Central Bank (ECB) and Bank of Japan (BoJ) this week. FOCUS ON CENTRAL BANKSElsewhere, the ECB sets policy on Thursday. Again, a quarter point hike is widely expected, but building evidence of an economic slowdown has called into question the chances of another by year-end. The Australian dollar slid 0.4% to $0.6766 after slower-than-expected inflation data suggested the Reserve Bank of Australia (RBA) would forgo a rate hike on Aug. 1. Money markets are split between a 25 basis point (bp) or a 50 bp rate hike.

Persons: Jerome, Powell, Joseph Capurso, Capurso, Sean Callow, Sterling, Kevin Buckland, Joice Alves, Mark Potter Organizations: Federal, Traders, European Central Bank, Bank of Japan, U.S, Money, Commonwealth Bank of Australia, FOCUS, ECB, Australian, Reserve Bank of Australia, Westpac, U.S ., Bank of, Thomson Locations: LONDON, U.S, Beijing, China, Bank of England, Tokio, London

☆ KBW CEO: Regional banks have upside if Fed hikes once more and narrative 'steadies'
▼ + stars: | 2023-07-24 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKBW CEO: Regional banks have upside if Fed hikes once more and narrative 'steadies'Thomas Michaud, KBW CEO, joins 'Squawk on the Street' to discuss Michaud's take on the regional banking sector, the concerns around the regional banks ability to generate net interest income or margin, and what investors have learned about the credit environment.

Persons: Thomas Michaud

☆ Oil steadies as investors eye US crude supplies
▼ + stars: | 2023-07-18 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

Summary Both benchmarks dip more than 1.5% on MondayInvestors eye US crude, product inventories dataChina's frail growth raises urgency for policy supportLONDON, July 18 (Reuters) - Oil prices were little changed on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both benchmark contracts had fallen more than 1.5% on Monday following lacklustre economic data from China, the world’s largest oil importer, as well as the partial restart of some Libyan oilfields. Brent crude was up 26 cents at $78.76 a barrel by 1151 GMT, while U.S. West Texas Intermediate (WTI) crude rose 28 cents to $74.43 a barrel in relatively muted trading, with the contract set to expire on Thursday. Market participants were awaiting industry data later on Tuesday that is expected to show U.S. crude oil stockpiles and product inventories fell last week. Still, global supplies are expected to see a boost from the resumption of output at two of three Libyan fields that were shuttered last week.

Persons: Brent, Rong Yeap, John Evans, Evans, Natalie Grover, Stephanie Kelly, Andrew Hayley, Jason Neely, David Holmes Organizations: Investors, U.S, West Texas, Energy, Administration, IG, Thomson Locations: China, U.S, Singapore, Saudi Arabia, London, New York, Beijing

☆ Oil steadies as investors digest China gloom, eye US crude supplies
▼ + stars: | 2023-07-18 | by ( Natalie Grover | ) www.reuters.com time to read: +2 min

Summary Both benchmarks dip more than 1.5% on MondayInvestors eye US crude, product inventories dataChina's frail growth raises urgency for policy supportLONDON, July 18 (Reuters) - Oil prices were little changed on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Brent crude was down 1 cent at $78.49 a barrel by 0753 GMT, while U.S. West Texas Intermediate crude edged up 1 cent to $74.16 a barrel. Both contracts fell more than 1.5% on Monday, following lacklustre Chinese data and the partial restart of some Libyan oilfields. Market participants were awaiting industry data later on Tuesday that is expected to show U.S. crude oil stockpiles and product inventories fell last week. Still, global supplies are expected to see a boost from the resumption of output at two of three Libyan fields that were shuttered last week.

Persons: Brent, Rong Yeap, John Evans, Natalie Grover, Stephanie Kelly, Andrew Hayley, Lincoln, Jason Neely Organizations: Investors, U.S, West Texas, IG, Energy, Administration, Saudi, Thomson Locations: China, Singapore, U.S, London, New York, Beijing

☆ Dollar steadies as US economy stays resilient; eyes on nonfarm payrolls
▼ + stars: | 2023-07-07 | by ( Rae Wee | ) www.reuters.com time to read: +3 min

The closely watched nonfarm payrolls report is due later on Friday, where expectations are for the U.S. economy to have added 225,000 jobs in June. The dollar index rose 0.03% to 103.12, while yields on U.S. Treasuries hovered near their recent peaks. The two-year Treasury yield , which typically reflects near-term interest rate expectations, steadied above 5%, after surging to a 16-year high of 5.12% on Thursday. That kept a closely watched two-to-10-year part of the U.S. Treasury yield curve , seen as an indicator of economic expectations, deeply inverted at a negative 96.90 bps. Elsewhere, the yen last bought 144.06 per dollar and was on track for a slight weekly gain, reversing three straight weeks of losses.

Persons: payrolls, Sterling, Carol Kong, tonight's, Rae Wee, Sam Holmes Organizations: Treasury, Fed, New Zealand, Bank of England, Commonwealth Bank of Australia, U.S, Thomson Locations: SINGAPORE, U.S, Asia, Treasuries

☆ Dollar steadies as U.S. economy stays resilient, eyes on nonfarm payrolls
▼ + stars: | 2023-07-07 | by ( ) www.cnbc.com time to read: +3 min

The closely watched nonfarm payrolls report is due later on Friday, where expectations are for the U.S. economy to have added 225,000 jobs in June. The dollar index rose 0.03% to 103.12, while yields on U.S. Treasuries hovered near their recent peaks. The two-year Treasury yield , which typically reflects near-term interest rate expectations, steadied above 5%, after surging to a 16-year high of 5.12% on Thursday. That kept a closely watched two-to-10-year part of the U.S. Treasury yield curve, seen as an indicator of economic expectations, deeply inverted at a negative 96.90 bps. Elsewhere, the yen last bought 144.06 per dollar and was on track for a slight weekly gain, reversing three straight weeks of losses.

Persons: payrolls, Sterling, Carol Kong, tonight's Organizations: Treasury, Fed, New Zealand, Bank of England, Commonwealth Bank of Australia, U.S Locations: U.S, Asia, Treasuries

☆ Oil steadies as market digests supply and demand outlook
▼ + stars: | 2023-07-06 | by ( Natalie Grover | ) www.reuters.com time to read: +1 min

LONDON, July 6 (Reuters) - Oil prices were little changed on Thursday as the market digested tighter crude supply alongside fears of global economic slowdown. Brent crude futures edged up 12 cents to $76.77 a barrel by 1143 GMT after a 0.5% gain the previous day. On the supply side, top oil exporters Saudi Arabia and Russia announced a fresh round of output cuts for August. The total cuts now stand at more than 5 million barrels per day (bpd), equating to 5% of global oil output. "The oil balance will likely tighten and so will financial conditions, judging by the Fed minutes released last night," said PVM analyst Tamas Varga.

Persons: Tamas Varga, Natalie Grover, Yuka Obayashi, David Goodman Organizations: Brent, . West Texas, Thomson Locations: Saudi Arabia, Russia, U.S, Europe, China, London, Tokyo, Singapore

☆ Stocks dip, dollar steadies as investors seek rates clarity
▼ + stars: | 2023-07-04 | by ( Xie Yu | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.1%, by Tuesday mid-morning. Japan's Nikkei share average (.N225) fell 1.1% as investors exited some bullish positions after the benchmark index closed at a 33-year high in the previous session. Geopolitical tensions also persist, he noted, with China's export controls on minerals adding more uncertainty around global trade relations. In the currency market, the dollar index , which tracks the greenback against six major peers, rose slightly to 102.97. The Treasury market is shut Tuesday for Independence Day.

Persons: Manishi Raychaudhuri, Raychaudhuri, Paul Volcker, Sam Holmes Organizations: U.S ., U.S, Independence, Wall, Nikkei, Treasury, Federal, Asia, BNP Paribas, Brent, . West Texas, Fed, Thomson Locations: HONG KONG, Asia, Pacific, Japan, Saudi Arabia, Russia, United States

☆ Oil steadies after spiking on U.S. inventory fall
▼ + stars: | 2023-06-29 | by ( Ahmad Ghaddar | ) www.reuters.com time to read: +2 min

Brent crude futures was up 10 cents, or 0.1%, to $74.13 a barrel by 1032 GMT. Nonetheless, the impact that stocks have on oil prices was on display yesterday on a smaller scale," PVM Oil analyst Tamas Varga said. Concerns about the impact that rising interest rates will have on economic growth came back to the fore, however, halting the rally. Adding to pressure, annual profits at industrial firms in China, the world's second-biggest oil consumer, extended a double-digit decline in the first five months as softening demand squeezed margins. "The lack of prospects for fuel demand growth has limited the gain in oil prices, even with supply curbs by oil producers," said Tetsu Emori, CEO of Emori Fund Management Inc.

Persons: Tamas Varga, Jerome Powell, Christine Lagarde, Tetsu Emori, Yuka Obayashi, Jason Neely Organizations: Brent, . West Texas, U.S . Energy Information Administration, . Federal, European Central Bank, Emori Fund Management Inc, Thomson Locations: China, Saudi Arabia, OPEC

☆ Gold steadies near three-month lows; focus shifts to Powell
▼ + stars: | 2023-06-28 | by ( ) www.cnbc.com time to read: +2 min

Gold held near three-month lows on Wednesday after strong U.S. economic readings offset the bullion's traditional safe-haven status, while traders positioned for Federal Reserve Chair Jerome Powell's speech and more data for clues on rate hikes. Spot gold rose 0.1% to $1,915.45 per ounce by 0524 GMT, hovering close to its lowest level since March 16 at $1,910. Data on Tuesday indicating that the economy remained on solid footing could lead to more Fed rate hikes to bring down inflation. Powell will speak at a policy panel on Wednesday before the European Central Bank Forum on Central Banking in Sintra along with other central bank members. Spot silver rose 0.2% to $22.93 per ounce, platinum fell 0.9% to $916.83 while palladium dropped 1.1% to $1,281.48.

Persons: Gold, Jerome Powell's, Matt Simpson, Simpson, Powell, Tim Waterer Organizations: Federal, City, Open, Committee, European Central Bank, Central Banking, KCM Locations: U.S, Sintra

SummarySummary Companies Shell to hold oil output steadyCompany to grow gas and LNG businessCapital spending reduced for 2024-25LONDON, June 14 (Reuters) - Shell (SHEL.L) will ramp up its dividend and share buybacks while keeping oil output steady into 2030, it said on Wednesday, as CEO Wael Sawan moved to regain investor confidence that wavered over its energy transition plan. Shell shares were up 1.5% at 1204 GMT, against a 1% rise for an index of European oil and gas companies (.SXEP). Reuters Graphics Reuters GraphicsOIL STEADYShell scrapped its previous target to cut oil output by 20% by 2030 after largely reaching the goal. It currently has a target to cut its 2030 emissions intensity, including from the combustion of the fuels it sells, by 20%. Shell also faces a Dutch court ruling ordering the company to drastically cut emissions.

Persons: Wael Sawan, Shell, Sawan, Biraj Borkhataria, Thilo, Bernard Looney, Ron Bousso, David Goodman, Jan Harvey Organizations: Shell, RBC, Reuters Graphics Reuters, Royal, REUTERS, BP, Lebanese, Thomson Locations: New York, Wesseling, Cologne, Germany, Bukom, Jurong, Singapore, Paris

SummarySummary Companies Shell to hold oil output steadyCompany to grow gas and LNG businessCapital spending reduced for 2024-25LONDON, June 14 (Reuters) - Shell (SHEL.L) will ramp up its dividend and share buybacks while keeping oil output steady into 2030 as part of CEO Wael Sawan's efforts to regain investor confidence that wavered over its energy transition plan. Reuters GraphicsOIL STEADYShell scrapped its previous target to cut oil output by 20% by 2030 after largely reaching the goal. Sawan, a 48-year-old Canadian-Lebanese national who previously headed Shell's oil, gas and renewables divisions, has in recent months scrapped several projects, including in offshore wind, hydrogen and biofuels, due to projections of weak returns. It currently has a target to cut its 2030 emissions intensity, including from the combustion of the fuels it sells, by 20%. Shell also faces a Dutch court ruling ordering the company to drastically cut emissions.

Persons: Wael Sawan's, Shell, Sawan, Ron Bousso, David Goodman, Jan Harvey Organizations: Shell, Reuters, Lebanese, Thomson Locations: New York, Bukom, Jurong, Singapore, Paris

The plan is the linchpin of Sawan's effort to boost Shell's share performance relative to its U.S. peers, which has suffered despite a record $40 billion profit last year. Its shares closed up 0.4%, against a flat index of European oil and gas companies (.SXEP) on Wednesday. Reuters Graphics Reuters GraphicsOIL STEADYShell scrapped its previous target to cut oil output by 20% by 2030 after largely reaching the goal. It currently has a target to cut its 2030 emissions intensity, including from the combustion of the fuels it sells, by 20%. Shell also faces a Dutch court ruling ordering the company to drastically cut emissions.

Persons: Wael Sawan, Sawan, Biraj Borkhataria, Thilo, Shell, Bernard Looney, Ron Bousso, Jan Harvey, Alexander Smith, Elaine Hardcastle Organizations: Shell, British, RBC, Reuters Graphics Reuters, Royal, REUTERS, BP, Lebanese, Reuters, Thomson Locations: New York, Wesseling, Cologne, Germany, Bukom, Jurong, Singapore, Paris

☆ Bitcoin steadies above $25,000 as Binance SEC lawsuit rattles investors
▼ + stars: | 2023-06-06 | by ( Rae Wee | ) www.reuters.com time to read: +2 min

SINGAPORE, June 6 (Reuters) - Bitcoin stabilised above $25,000 on Tuesday after a steep dive overnight, as investors grappled with news that the U.S. securities regulator sued crypto exchange Binance, dealing a severe blow to the industry. Bitcoin , the world's largest cryptocurrency, was last at $25,797, up 0.2% in Asian trade on Tuesday, pinned near a more than two-month low. The U.S. Securities and Exchange Commission on Monday sued Binance, the world's largest cryptocurrency exchange, and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a "web of deception" to evade U.S. laws, among other charges. "It's another blow to the crypto industry and the crypto exchanges of the world," said Tony Sycamore, market analyst at IG Markets. Reporting by Rae Wee in Singapore and Kevin Buckland in Tokyo; Editing by Sonali PaulOur Standards: The Thomson Reuters Trust Principles.

Persons: Binance, Changpeng Zhao, Tony Sycamore, cyptocurrency, Wayne Huang, Rae Wee, Kevin Buckland, Sonali Paul Organizations: U.S . Securities, Exchange Commission, Monday, IG Markets, SEC, Reuters, XREX Inc, Thomson Locations: SINGAPORE, Asia, Singapore, Tokyo

☆ Euro steadies after Lagarde promises rate hike as inflation still too high
▼ + stars: | 2023-06-01 | by ( Joice Alves | ) www.reuters.com time to read: +3 min

LONDON, June 1 (Reuters) - The euro held its ground on Thursday, above a two-month low, after European Central Bank (ECB) President Christine Lagarde said inflation remains too high and further policy tightening was necessary. But the current level is still more than three times the ECB's 2% inflation target. "Today, inflation is too high and it is set to remain so for too long," Lagarde said in a speech. Money markets are pricing in an 85% chance of a 25 bps hike when the ECB meets on June 15. Another 25 bps hike is expected in July, according to Refinitiv.

Persons: Christine Lagarde, Lagarde, Simon Harvey, Luis de Guindos, Carol Kong, Joice Alves, Rae Wee, Simon Cameron, Moore, Sharon Singleton, Andrew Heavens Organizations: European Central Bank, ECB, Reserve, U.S . House, Fed, U.S, Democratic, Commonwealth Bank of Australia, Thomson Locations: Europe, London, Singapore

U.S. Federal Reserve officials on Wednesday suggested interest rates could be kept on hold this month and the U.S. House of Representatives passed a bill suspending the government's debt ceiling, improving the chance of averting a disastrous default. "Oil markets may have been oversold in the last two trading days," said CMC Markets analyst Tina Teng. "Sentiment rebounded amid the debt bill's passage in the House and (the) Fed's rate hike pause signal." Mixed demand indications from China, the world's biggest oil importer, have nonetheless weighed on the market, as has industry data showing a rise in U.S. crude inventories. Market sources citing American Petroleum Institute (API) figures on Wednesday said that U.S. crude inventories rose by about 5.2 million barrels last week.

Persons: Tina Teng, Tamas Varga, Alex Lawler, Rowena Edwards, Arathy Somasekhar, Andrew Hayley, David Goodman Organizations: Representatives U.S, U.S . Federal, U.S . House, Brent, West Texas, American Petroleum Institute, of, Petroleum, Reuters, Thomson Locations: China, OPEC, Russia, London, Houston, Beijing

☆ An Ace’s Return Steadies the Ship, Even in a Loss
▼ + stars: | 2023-05-04 | by ( Benjamin Hoffman | ) www.nytimes.com time to read: +1 min

In Justin Verlander’s first start of the season, he pitched like an ace. And no, the Mets did not win. In a season in which the starting rotations of both New York teams have seemed almost cursed by injuries and ineffectiveness, that was enough to find a ray of sunshine. “You saw his stuff, so to speak, and velocity and crispness kind of get better as the game went on,” Mets Manager Buck Showalter said after the game. “I could tell he was getting after it the last inning.”

☆ Stock Market Today: PacWest Tumbles; Oil Steadies
▼ + stars: | 2023-05-04 | by ( ) www.wsj.com time to read: 1 min

Aftershocks from March's banking turmoil rumbled on, even as the end of the Federal Reserve's aggressive rate-rise campaign approaches. In recent market action:PacWest's already battered shares fell sharply in off-hours trading. The bank said it was talking to potential partners and investors, and would keep evaluating "all options to maximize shareholder value." Index futures were modestly higher ahead of a big earnings day, with Apple and other big companies on tap. Treasury yields were relatively stable.

April 27 (Reuters) - The rouble steadied on Thursday, with the market looking ahead to Friday's interest rate decision, as favourable month-end tax payments propped the Russian currency up amid a significant drop in oil prices. By 1322 GMT, the rouble was 0.2% stronger against the dollar at 81.44 and had gained 0.6% to trade at 89.76 versus the euro . Month-end tax payments that usually lead exporters to convert foreign currency revenue to meet local liabilities are putting a floor under the rouble. Oil prices dropped almost 4% on Wednesday, extending sharp losses from the previous session, driven by fears of a U.S. recession and an increase in Russian oil exports which dulled the impact of OPEC production cuts. "We still see no reason for the central bank to change the rate and its rhetoric, but inflation risks will continue to concern the central bank more than economic growth," said Dmitry Polevoy, head of investment at Locko-Invest.

☆ A dramatic video shows a famed Ukrainian unit dodging grenades and shooting Russian soldiers in close-combat trench warfare
▼ + stars: | 2023-04-22 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +4 min

A video shows a Ukrainian battalion fighting off Russian troops in close-combat trench warfare. Soldiers from the "Da Vinci Wolves" battalion shoot at enemy soldiers, who throw a grenade from mere feet away. At one point, a nearby Russian soldier throws a grenade at the trench, and Ukrainian soldiers respond with sustained gunfire. Much of the rest of the video, around 11 minutes long, shows Ukrainian soldiers continuing to spot and target Russian soldiers amid a war-scarred landscape of splintered trees and bomb craters. Ukrainian soldiers of Da Vinci Wolves Battalion firing artillery in the direction of Bakhmut, April 3, 2023.

☆ Oil steadies as tighter supply balances growth concerns
▼ + stars: | 2023-04-10 | by ( Alex Lawler | ) www.reuters.com time to read: +2 min

Brent crude slipped 3 cents to $85.09 a barrel by 0816 GMT, while U.S. West Texas Intermediate crude gained 8 cents to $80.78. "I am in the latter camp and still see prices moving higher from here as we go through the year." Adding to tightness in supply has been a shutdown of Iraq's northern exports. Oil also drew support from a steeper-than-expected drop in U.S. crude inventories last week, as well as a decline in gasoline and distillate stocks, hinting at rising demand. In global financial markets, a U.S. inflation report to be released on Wednesday could help investors gauge the near-term trajectory for interest rates.

☆ Dollar slides on sluggish US data, Aussie steadies ahead of RBA
▼ + stars: | 2023-04-04 | by ( ) www.cnbc.com time to read: +3 min

Against the sliding dollar, the British pound and the Australian and New Zealand dollars rose to multi-week highs in early Asia trade on Tuesday. The kiwi rose 0.2% to $0.6310, its highest since mid-February, while the U.S. dollar index was marginally lower at 102.02, having fallen more than 0.5% on Monday. "The closest thing we get to good news in (the) report is that the slowing in the factory sector is pushing prices lower and supply chains are continuing to heal, benefiting from the slack. The RBA will pause policy tightening according to a poll of analysts, although a strong minority still forecast a hike. Data out last week showed Australian inflation slowed to an eight-month low in February, due in part to a sharp retreat in prices for holiday travel and accommodation.

☆ Premarket stocks: The FDIC could ask big banks to clean up $23 billion mess
▼ + stars: | 2023-03-31 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

While regional and mid-sized banks are behind the recent turmoil, it appears that large banks may be footing the bill. Ultimately, that means higher fees for bank customers and lower rates on their savings accounts. The law also gives the FDIC the authority to decide which banks shoulder the brunt of that assessment fee. Passing it on: Regardless of who’s charged, the fees will eventually get passed on to bank customers in the end, said Isaac. In 2021, Wall Street was estimated to be responsible for 16% of all economic activity in the city.

☆ Oil steadies as U.S. crude draw offset by Russian supplies, stronger dollar
▼ + stars: | 2023-03-30 | by ( Laila Kearney | ) www.reuters.com time to read: +1 min

Companies United States of America FollowMarch 29 (Reuters) - Oil steadied in early Asian trade on Thursday as a surprise draw in U.S. crude oil stockpiles that supported prices was offset by a smaller-than-expected cut to Russian supplies and stronger dollar. West Texas Intermediate U.S. crude fell 6 cents, or 0.1%, to $72.91 a barrel. Helping to support prices, U.S. crude oil stockpiles fell unexpectedly last week as refineries ramped up production after maintenance season and imports fell to a two-year low, the U.S. Energy Information Administration said on Wednesday. Crude inventories (USOILC=ECI) fell by 7.5 million barrels in the week to March 24 to 473.7 million barrels, compared with analysts' expectations in a Reuters poll for a 100,000-barrel rise. Meanwhile, reports about Russian crude production falling by around 300,000 barrels a day in the first three weeks of March, less than the targeted cuts of 500,000 bpd, and strength in the U.S. dollar, erased oil price gains.

The dollar index , which tracks the currency against six peers, gained 0.15% to 102.64. It has fallen for the past two sessions, and is set for a 2.1% monthly fall, a victim of the market ructions induced by problems in the banking industry. The dollar touched a one week high and was last up 0.8% to 131.99 yen , while the euro gained 0.6% against the yen to 142.9. The dollar had dropped 0.5% against the yen the previous day, when it uncharacteristically moved in the opposite direction to long-term U.S. Treasury yields, which have been rising as calm returns to markets. Reporting by Kevin Buckland; Editing by Shri Navaratnam, Jamie Freed and Angus MacSwanOur Standards: The Thomson Reuters Trust Principles.

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