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Although ECB President Christine Lagarde signalled more tightening to come, markets pared back their expectations on how much further rates would rise. Traders have since priced in more aggressive rate cuts from the Fed, with Fed funds futures implying a small chance that cuts could come as soon as June and through to the end of the year. The Aussie and the kiwi were among the largest beneficiaries of the sliding dollar, each rising more than 0.5% and touching multi-week highs. "For the Fed's June decision, inflation data and employment indicators ... along with bank lending standards will be key to watch. The Australian dollar was last up 0.62% at $0.6735, after touching a two-week peak earlier in the session.
A Litany of Clichés - The New York Times
  + stars: | 2023-04-27 | by ( Michael Massing | ) www.nytimes.com   time to read: +4 min
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SINGAPORE, March 16 (Reuters) - Safe haven currencies like the U.S. dollar and the yen were in bid on Thursday on renewed fears of a global banking crisis, after contagion from the implosion of U.S.-based Silicon Valley Bank had spread across the Atlantic to Swiss bank Credit Suisse. The yen jumped about 0.5% in early Asia trade and last stood at 132.73 per dollar, extending Wednesday's 0.6% gain. "Given the elevated uncertainties and concerns about broader financial contagion, the dollar, as well as the yen, will be the main beneficiaries because of safe haven demand." The European Central Bank meets later on Thursday and is due to announce its interest rate decision following the meeting. "It will definitely be a tough call for any major central bank to stick with its tightening path."
NEW YORK, March 10 (Reuters) - A critical inflation report next week will test a U.S. stock market already consumed by worries over Federal Reserve hawkishness and potential fallout from the largest bank failure since the financial crisis. A hotter-than-expected consumer price report on Tuesday, however, could reignite fears of jumbo-sized Fed rate hikes like those that rocked markets last year. After a big rebound in January, the benchmark index is now clinging to a 0.6% gain for 2023. The consumer price report is followed the next day by more inflation data, on producer prices. Besides signs of falling inflation, reassurance for investors could come if it became clearer that SVB’s issues were unlikely to spread.
Meta employees are starting to hear about the "opportunity to convert" to a non-management role. Further layoffs are expected amid Mark Zuckerberg's push for a more efficient organization. Mark Zuckerberg's mandate to "flatten" the organizational structure of Meta is getting underway, leaving employees on tenterhooks about changes to their work and expected layoffs. About a week ago, the company, formerly known as Facebook, began downranking unfilled jobs at the M1 level to the E6 level, according to two employees familiar with the change. The down leveling of the M1 roles is affecting jobs open to internal transfers, as Meta remains in a broad hiring freeze.
It was made worse by the Fed not recognizing it in 2021," said Komal Sri-Kumar, president of Sri-Kumar Global Strategies. "If you're going to have a no-landing scenario, then you're going to accept 5% inflation, and that's politically unacceptable. He has to work on bringing inflation down, and because the economy is so strong it's going to get delayed. 'Ongoing increases' aheadFor his part, Powell will have to find a landing spot between the competing views on policy. However, Guha said that Powell is unlikely to tee up the half-point, or 50 basis point, rate hike later this month that some investors fear.
The Nifty 50 index (.NSEI) was down 0.86% at 17,674.50, while the S&P BSE Sensex (.BSESN) fell 0.85% at 60,150.93 as of 10:34 a.m. IST. Both the Fed and the Reserve Bank of India were due to release minutes of their latest policy meetings, giving investors a glimpse of their thinking on future rate-hike trajectories. "Fear of a hawkish Fed has gripped markets and kept investors on tenterhooks." Global markets fell after an unexpectedly strong reading of S&P Global's composite purchasing managers' index (PMI) showed that the U.S. economy was not cooling. ($1 = 82.8330 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Jan 13 (Reuters) - British housebuilder Taylor Wimpey Plc (TW.L) on Friday forecast that it will construct fewer homes in 2023 than in the previous year as affordability concerns and economic uncertainty kept homebuyers on tenterhooks. Taylor Wimpey expects its annual operating profit to come in line with company-compiled consensus of about 921 million pounds ($1.12 billion), almost similar to market estimates from November. The FTSE 100 company, which also has a minor presence in Spain, said it built 14,154 homes in the UK including joint ventures in 2022, in line with its production outlook "broadly similar" to 14,087 units a year ago. The High Wycombe-based company said year-end order book - a key measure in gauging sales performance in the short term - excluding joint ventures stood at 1.94 billion pounds, compared with 2.55 billion pounds a year earlier. ($1 = 0.8201 pounds)Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.
Elon Musk’s will-they-or-won’t-they Twitter debacle kept readers on tenterhooks via Refinitiv’s platforms and our two websites, Breakingviews.com and Reuters.com. Another piece posing the hard-hitting question, “What is Morgan Stanley (MS.N) smoking in Twitter LBO?”, garnered plenty of clicks on Breakingviews.com and via Refinitiv. Almost a third of the best-read lists tackled the outbreak of war in Europe, and its terrible ramifications. Views on the rouble and the prospect of the country’s economic collapse demanded attention. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
[1/11] The sun rises over the U.S. Capitol, as control of Congress remained unclear following the 2022 U.S. midterm elections in Washington, U.S., November 9, 2022. The fate of the Senate, meanwhile, rests with a trio of fiercely contested states. (Live election results from around the country are here)Though Republicans remained favored to take over the House, their performance on Tuesday was seen as underwhelming. A Republican Senate would hold sway over Biden's judicial appointments, including any potential Supreme Court vacancies. VOTE-COUNTING CHUGGING ALONGAs ballots were tallied, Democrats expressed cautious optimism about both the Nevada and Arizona Senate races.
[1/11] The sun rises over the U.S. Capitol, as control of Congress remained unclear following the 2022 U.S. midterm elections in Washington, U.S., November 9, 2022. Either party can win a majority by sweeping the races in Nevada and Arizona, where counting late-arriving ballots is expected to last several more days. (Live election results from around the country are here)Though Republicans remained favored to take over the House, their performance on Tuesday was seen as underwhelming. A Republican Senate would hold sway over Biden's judicial appointments, including any potential Supreme Court vacancies. VOTE-COUNTING CHUGGING ALONGAs ballots were tallied, Democrats expressed cautious optimism about both the Nevada and Arizona Senate races.
SINGAPORE, Nov 2 (Reuters) - Oil prices rose on Wednesday after industry data showed a surprise drop in U.S. crude stocks, suggesting demand is holding up despite steep interest rate hikes dampening global growth. Brent crude rose 54 cents, or 0.6%, to $95.19 a barrel by 0723 GMT, while U.S. West Texas Intermediate (WTI) crude rose 72 cents, or 0.8%, to $89.09 a barrel. In a further positive sign for demand, U.S. crude oil stocks fell by about 6.5 million barrels for the week ended Oct. 28, according to market sources citing American Petroleum Institute figures. At the same time, gasoline inventories fell more than expected, with stockpiles down by 2.6 million barrels compared with analysts' forecasts for a drawdown of 1.4 million barrels. China's zero-COVID policy has been a key factor in keeping a lid on oil prices as repeated lockdowns have slowed growth and pared oil demand in the world's second-largest economy.
SINGAPORE, Nov 2 (Reuters) - Oil prices rose more than 1% on Wednesday after industry data showed a surprise drop in U.S. crude inventories, suggesting demand is holding up despite steep interest rate hikes dampening global growth. Brent crude futures rose $1.13, or 1.2%, to $95.78 a barrel at 0441 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose $1.26, or 1.4%, to $89.63 a barrel. In a further positive sign for demand, data on Tuesday from the American Petroleum Institute showed crude oil stocks fell by about 6.5 million barrels for the week ended Oct. 28, according to market sources. Eight analysts polled by Reuters had on average expected crude inventories to rise by 400,000 barrels. China's zero-COVID policy has been a key factor in keeping a lid on oil prices as repeated lockdowns have slowed growth and pared oil demand in the world's second-largest economy.
Dollar sags as Fed decision looms; yen surges
  + stars: | 2022-11-02 | by ( Kevin Buckland | ) www.reuters.com   time to read: +4 min
The yen outperformed, seeing a sudden burst of strength mid-morning Japan time, with traders on alert for possible intervention around the Fed meeting. On Wednesday, the Japanese currency jumped suddenly by about half a yen to 147.4 per dollar. The euro edged up 0.15% to $0.9888, but still close to the previous session's one-week low at $0.98535. Sterling rose 0.17% to $1.1505, but remained not far from Tuesday's one-week low of $1.14365. The Australian dollar was little changed at $0.63945, consolidating near a one-week low.
SAO PAULO, Oct 28 (Reuters) - Human rights groups and researchers have raised concerns in Brazil that social media platforms are failing to effectively police disinformation ahead of a highly polarized presidential vote on Sunday. Brazil's Superior Electoral Court (TSE) bolstered measures this month to tackle disinformation around the election, especially on video sharing platforms. "Social media platforms are failing Brazil's voters," said Deborah Brown, a senior researcher on digital rights at Human Rights Watch, who called the platforms and messaging apps "extremely important" spaces for electoral debate. "That space has been riddled with electoral disinformation, such as baseless allegations of electoral fraud," she said. "Social media companies bear some responsibility for the country being on tenterhooks about this year's election," Friedrich said.
HONG KONG, Oct 14 (Reuters) - Chinese real estate developers are delaying their debt restructuring moves until after the upcoming Communist Party Congress, hoping the crucial gathering offers clues on how Beijing plans to stabilise the embattled sector. Smaller peers, which have done bond exchanges to extend the maturities of their debt, are also considering restructuring, the developers told Reuters. China's gigantic real estate debt China's gigantic real estate debtChina's twice-a-decade party congress kicks off on Oct. 16, during which President Xi Jinping is poised to secure a precedent-breaking third leadership term as general secretary. Echoing that apprehension ahead of the party congress, some fund managers and brokers have been told to avoid big share sales, two sources told Reuters. For some stakeholders, the stalling of the debt restructuring ahead of the party congress is frustrating.
Refiners, insurers, shippers and traders would be able to deal in Russian crude and products if they adhere to the price cap and its associated compliance measures. For argument's sake let's assume a Brent price of $80 by December when the ban comes into effect, and a price cap for Russian crude of $60. However, the United States and Europe may actually not mind cheating on the price cap, depending on how the money is split up. More tankers will be required to ship Russian crude given an increase in voyage times if the crude and products go to Asia rather than Europe. The oil industry would likely prefer that Europe and the United States don't place restrictions on Russian crude, but this currently isn't an option from a political perspective.
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