DIRS.INFO The most relevant business & tech news

SINGAPORE, May 15 (Reuters) - Oil prices fell on Monday as concerns about fuel demand in the top global oil consumers, the United States and China, offset bullish sentiment about tightening supplies from OPEC+ cuts and a resumption in U.S. buying for reserves. Brent crude futures fell 26 cents, or 0.35%, to $73.91 a barrel by 0638 GMT, while U.S. West Texas Intermediate crude was at $69.34 a barrel, down 20 cents, or 0.29%. Investors will scour China's slew of economic data on industrial output, fixed assets investment and retail sales in the week ahead for signs of oil demand improvement, she said. However, Iraq does not expect OPEC+ to make further cuts to oil output at its next meeting in June, said its oil minister, Hayan Abdel-Ghani. 1 crude importers, respectively, have been the key buyers of Russian crude since the European Union embargo started in December.

☆ Oil falls as economic concerns offset prospect of tighter supplies
▼ + stars: | 2023-05-15 | by ( Florence Tan | ) www.reuters.com time to read: +3 min

SINGAPORE, May 15 (Reuters) - Oil prices slipped on Monday as concerns about fuel demand at top global oil consumers U.S. and China offset optimism about tightening supplies from any OPEC+ cuts and a resumption in U.S. buying for reserves. Brent crude futures fell 43 cents, or 0.6%, to $73.74 a barrel by 0130 GMT while U.S. West Texas Intermediate crude was at $69.67 a barrel, down 37 cents, or 0.5%. Investors will scour China's slew of economic data on industrial output, fixed assets investment, and retail sales in the week ahead for signs of oil demand improvement, she added. However, Iraq does not expect OPEC+ to make further cuts to oil output at its next meeting in June, its oil minister Hayan Abdel-Ghani said. 1 crude importers, respectively, have been the key buyers of Russian crude since the European Union embargo started in December.

☆ Asian stocks edge lower amid gloomy China data as US CPI looms
▼ + stars: | 2023-05-09 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

TOKYO, May 9 (Reuters) - Asian stocks eased back from more than two-week highs on Tuesday as traders squared positions heading into a key U.S. inflation report, while gloomy Chinese trade data also kept risk sentiment in check. Mainland Chinese blue chips (.CSI300) turned lower after early gains, with the benchmark CSI 300 dropping 0.8%. "So when you have some trend data which is not as good as people expect, it raises doubts," he said. "The surprise lies on the downside" for the inflation data, particularly the risk of a drop below 5%, said Tony Sycamore, a market analyst at IG markets. Brent crude was down 30 cents at $76.71 and U.S. West Texas Intermediate (WTI) crude fell 26 cents to $72.90.

☆ Asian stocks edge lower, dollar firm as US inflation data looms
▼ + stars: | 2023-05-09 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), though, slipped 0.3%, erasing part of Monday's 0.9% rally. Hong Kong's Hang Seng (.HSI) dropped 0.4%, while Australia's benchmark (.AXJO) lost 0.2% and South Korea's Kospi declined 0.4%. Investors were mostly unmoved by Chinese data showing exports surged last month while imports eased. "The surprise lies on the downside" for the inflation data, particularly the risk of a drop below 5%, said Tony Sycamore, a market analyst at IG markets. The dollar index , which measures the currency against six major peers, was little changed after earlier rising overnight from near the bottom of its trading range since the middle of last month.

☆ Euro near one-year peak as U.S. economic risks weigh on dollar
▼ + stars: | 2023-04-27 | by ( ) www.cnbc.com time to read: +3 min

The euro hovered near a one-year high versus the dollar on Thursday, as Europe's resilient economy contrasted with banking contagion risks in the United States, the debt ceiling standoff and a potential recession. Europe's single currency ticked up 0.05% to $1.10415, edging back toward the overnight peak at $1.1096, the highest since April of last year. IG analyst Tony Sycamore also sees risks skewed to the downside for the euro against the dollar. Aussie dollar traders are more confident that the Reserve Bank of Australia will keep rates unchanged for a second meeting next week after some softness in consumer inflation data on Wednesday. Bitcoin firmed to around $29,060, following a day when it jumped as high as $30,022, only to then slide as low as $27,242.

☆ Euro near one-year peak as US economic risks weigh on dollar
▼ + stars: | 2023-04-27 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO, April 27 (Reuters) - The euro hovered near a one-year high versus the dollar on Thursday, as Europe's resilient economy contrasted with banking contagion risks in the United States, the debt ceiling standoff and a potential recession. Europe's single currency ticked up 0.05% to $1.10415, edging back toward the overnight peak at $1.1096, the highest since April of last year. IG analyst Tony Sycamore also sees risks skewed to the downside for the euro against the dollar. IG's Sycamore says the initial strength was driven by U.S. banking concerns, but the market was "apparently spooked by a large sell order." Provided bitcoin can remain above $25,000, Sycamore expects the token to test this month's high at $31,035.

☆ Oil holds above $80/bbl on OPEC+ cuts, traders eye China recovery
▼ + stars: | 2023-04-17 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, April 17 (Reuters) - Oil prices edged up on Monday, supported by OPEC+'s plans to cut more output, while investors eyed Chinese economic data for signs of a demand recovery by the world's No. However, the IEA warned in its monthly report that the output cuts announced by OPEC+ producers risk exacerbating an oil supply deficit expected in the second half of the year and could hurt consumers and a global economic recovery. Rising costs for Middle East crude supplies, which meet more than half of Asia's demand, are already squeezing refiners' margins, prompting them to secure supplies from other regions. The greenback has been strengthening alongside interest rate hikes, making dollar-denominated oil more expensive for holders of other currencies. "(That) means some of the supportive tailwinds for crude oil demand from expectations of Fed rate cuts are starting to fade," he added.

☆ Oil holds above $80 per barrel on OPEC+ cuts, traders eye China recovery
▼ + stars: | 2023-04-17 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

☆ Asian stocks slide, bond yields depressed as recession worries weigh
▼ + stars: | 2023-04-06 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

The Asia-wide index had surged more than 5% since mid-March to close at a 1 1/2-month high on Tuesday. E-mini futures for the broader S&P 500 indicated a 0.24% decline at the reopen, extending Wednesday's 0.25% slide. As signs have built this week for a sharp U.S. slowdown, traders have been pricing for a more dovish Fed. That helped the yen, which is highly sensitive to U.S. yields, gain against fellow safe haven the greenback. The dollar index rose 0.12% to 101.99, continuing its bounce from a two-month low.

☆ Oil prices rise as investors move focus from OPEC+ cuts to demand outlook
▼ + stars: | 2023-04-04 | by ( ) www.reuters.com time to read: +3 min

Companies Goldman Sachs Group Inc FollowBEIJING, April 4 (Reuters) - Oil prices posted gains in Asian trade on Tuesday after OPEC+ plans to cut more production jolted markets the previous day, with investors' attention shifting to demand trends and the impact of higher prices on the global economy. The latest pledges bring the total volume of cuts by OPEC+ to 3.66 million bpd including a 2 million barrel cut last October, according to Reuters calculations - equal to about 3.7% of global demand. "In the short term, demand is expected to rise for the summer driving season, but higher oil prices may intensify inflationary pressures and prolong interest rate hikes in many countries, which could dampen demand," he said. The OPEC+ production curbs led most analysts to raise their Brent oil price forecasts to around $100 per barrel by year-end. "But for anything more than that something has to change dramatically from the demand side of the equation," he added.

☆ Oil prices climb in relief rally as banking concerns ease
▼ + stars: | 2023-03-27 | by ( Florence Tan | ) www.reuters.com time to read: +2 min

SINGAPORE, March 27 (Reuters) - Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe. The rise in oil prices was more a relief rally and part of a correction after a 16% fall in the prior two weeks, he added. Prices were also supported after President Vladimir Putin said he will station tactical nuclear weapons in Belarus, escalating geopolitical tensions in Europe over Ukraine. Russia's Deputy Prime Minister Alexander Novak said on Friday that Moscow was very close to achieving its target of cutting crude output by 500,000 barrels per day (bpd) to around 9.5 million bpd. Despite lowering output, Russia is expected to maintain crude oil exports by cutting refinery output in April, data from industry sources and Reuters calculations showed on Friday.

☆ SVB deal helps to steady banks amid credit crunch concerns
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +5 min

The sudden collapse of tech-focussed SVB earlier this month destabilised the sector and drew some of Europe's biggest banking names into investors' focus. In March, the Stoxx index of European bank shares .SX7P is down more than 18% and the U.S. KBW regional bank index .KRX has lost 21%, with investors on edge about what's next. In Europe, bank bonds are under pressure and credit default swaps, or the cost of insurance against defaults, uneasily high. First Citizens said it would take on assets of $110 billion, deposits of $56 billion and loans of $72 billion, and expand in California. It will share further potential losses with the FDIC and the FDIC retains some $90 billion in securities held for disposal.

SummarySummary Companies Latitude marks worst intraday dropLatitude among latest in slew of corporate cyberattacks in AustraliaMarch 22 (Reuters) - Shares of Latitude Group Holdings (LFS.AX) slumped to their all-time low on Wednesday after the fintech firm unearthed further evidence of large-scale information theft affecting former and current customers across Australia and New Zealand. Latitude said it was attempting to identify the number of customers affected and the type of personal information stolen by the hacker. Latitude had said last week that personal information of around 328,000 customers, including copies of drivers' licences, was stolen. It took its platforms offline on Monday and said the Australian Federal Police and the Australian Cyber Security Centre were looking into the attack. Latitude GroupReporting by Upasana Singh in Bengaluru; Editing by Sherry Jacob-PhillipsOur Standards: The Thomson Reuters Trust Principles.

The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes. Top central banks, faced with the risk of a fast-moving loss of confidence in the stability of the financial system, moved on Sunday to bolster the flow of cash around the world. Other market players predicted that bitcoin would benefit from central bank efforts to bolster liquidity in the global financial system. It rose to a record of $69,000 in November 2021 after central banks and governments launched unprecedented monetary and fiscal stimulus measures. Reporting by Tom Wilson in London and Georgina Lee in Hong Kong; Editing by Christian SchmollingerOur Standards: The Thomson Reuters Trust Principles.

☆ SVB collapse will have limited impact on Asia, but one analyst says it could be a warning sign
▼ + stars: | 2023-03-13 | by ( Jihye Lee | ) www.cnbc.com time to read: +4 min

HANGZHOU, CHINA - MARCH 12, 2023 - Photo taken on March 12, 2023 shows the logo of SPD Silicon Valley Bank in Hangzhou, Zhejiang province, China. Future Publishing | Future Publishing | Getty ImagesAnalysts say the collapse of Silicon Valley Bank is not likely to have a major contagion effect in Asia, but one person says it could be seen as a "warning" — especially for economies that haven't hiked interest rates aggressively. It came after U.S. regulators announced measures to further stem systemic risks from Silicon Valley Bank's collapse. While a number of companies within Asia's venture capital and tech start-up sector do have exposure to Silicon Valley Bank, not many have openly admitted to seeing major losses from SVB's bankruptcy. SPD Silicon Valley Bank, a joint venture between Shanghai Pudong Bank and Silicon Valley Bank sought to reassure investors over the weekend and said its operations have been "independent and stable."

Higher rates benefit the dollar by improving its yield and as traders look for safety while global stockmarkets drop. The dollar hit a two-month high against the euro of $1.0524 , extending Tuesday's 1.2% jump. The Australian dollar has weakened for a similar reason as the Reserve Bank of Australia has softened its tone. Having dropped over 2% on Tuesday, the Australian dollar weakened a bit more to hit a four-month low of $0.6568 on Wednesday. China's yuan finished the domestic session at 6.9706 per dollar, the weakest such close since Dec. 29, 2022.

☆ Powell's warning on higher U.S. rates pushes dollar to 3-mth high
▼ + stars: | 2023-03-08 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

Higher rates benefit the dollar by improving its yield and as traders look for safety while global stockmarkets drop. The dollar hit a two-month high of $1.0528 to the euro , extending Tuesday's 1.2% jump. The Australian dollar has weakened for a similar reason as the Reserve Bank of Australia has softened its tone. Futures imply U.S. rates peaking above 5.6% and holding higher than 5.5% through 2023. The U.S. dollar index rose 0.2% in Asia trade to a more than three-month high of 105.86.

☆ Powell pushes dollar to three-month high
▼ + stars: | 2023-03-08 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, March 8 (Reuters) - The dollar was riding high on Wednesday, flung to three-month peaks when Federal Reserve Chair Jerome Powell surprised investors by warning that interest rates might need to go up faster and higher than expected to rein in inflation. Overnight it had shot more than 1.2% higher on the euro, its biggest one-day move in five months. The U.S. dollar index , which measures the dollar against a basket of six major currencies, jumped 1.3% overnight to a three-month peak of 105.65. The blockbuster week of central bank meetings and speakers rolls on later in the day, with the Bank of Canada setting policy and European Central Bank President Christine Lagarde speaking. "If they don't hike, the Canadian dollar will likely fall into a bucket of currencies where the central bank is unwilling to keep up with the Fed."

☆ Asia stocks head for second weekly loss as Fed rate worries flare
▼ + stars: | 2023-02-10 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

TOKYO, Feb 10 (Reuters) - Asia-Pacific stocks fell on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the U.S. economy. MSCI's broadest index of Asia-Pacific shares (.MIAP00000PUS) sank 0.54% and was on course for a 1% weekly decline, after losing 1.16% in the previous week. "If rates go past that five, five-and-a-quarter percent range that the Fed has previously indicated, markets are definitely not priced for that - absolutely not." The 10-year yield edged down to around 3.67% after bumping around 3.96% mid-week, also the highest since Jan. 6. Brent crude futures fell 28 cents, or 0.3%, to $84.22 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell 35 cents, or 0.5%, to $77.71.

☆ Dollar set for fourth monthly drop as Fed meeting looms
▼ + stars: | 2023-01-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 31 (Reuters) - The dollar was eyeing a fourth monthly loss on Tuesday as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting. The U.S. dollar index is down 1.3% for January so far, though it rose 0.3% to 102.19 overnight. The Japanese yen fell 0.4% overnight but is set for its third monthly gain as markets anticipate shifts in monetary policy. Sterling and the Australian, New Zealand and Canadian dollars also made overnight losses but are set for monthly gains. Interest-rate futures indicate market expectations for a 25 basis point (bp) hike from the Federal Reserve to take the Fed funds rate window to 4.5%-4.75%.

☆ Asian stocks edge up, dollar sags as markets mull Fed risks
▼ + stars: | 2023-01-20 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

U.S. Treasury yields remained elevated in Tokyo after bouncing off four-month lows overnight. Asian markets showed some resilience despite a selloff on Wall Street overnight, with the S&P 500 (.SPX) losing 0.76%. Worries about more Fed tightening were heightened by robust U.S. employment data and fresh hawkish rhetoric from central bank officials. The market bets the policy rate will been just below 5% in June, implying just over 50 basis points of additional tightening. The benchmark 10-year Treasury yield was around 3.4% after bouncing off the lowest since mid-September at 3.321% overnight.

☆ Asian shares tentative, Japan yields close to policy cap ahead of BOJ meeting
▼ + stars: | 2023-01-18 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

SummarySummary Companies Asian shares mixed; Nikkei up 0.6%Markets eye change to yield policy from BOJ meeting on WedJapan yields retreat from policy cap; Yen eases from 7-mth highOil extend gains on China optimismSYDNEY, Jan 18 (Reuters) - Asian shares were mixed on Wednesday while Japanese yields hugged a policy cap, with markets anxiously awaiting a pivotal Bank of Japan (BOJ) meeting that could see the world's third largest economy shift away from decades of ultra-low interest rates. In early Wednesday trade, however, the 10-year yield fell to 0.485% before returning to 0.5%. China's blue chips (.CSI300) rose 0.2%, while Hong Kong's Hang Seng Index (.HSI) was 0.2% lower. It has been undermined by falling U.S. bond yields as markets wager the Federal Reserve can be less aggressive in hiking rates. The yield on benchmark 10-year Treasury notes rose slightly to 3.5402% from its U.S. close of 3.535%, partly in anticipation of the BOJ tweaking its policy.

☆ Yen perched near 7-month high as BOJ looms
▼ + stars: | 2023-01-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +2 min

SINGAPORE, Jan 17 (Reuters) - The dollar drifted off multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan. The euro reached a nine-month high on Monday at $1.0874, but was last loitering around $1.0830. The yen rose 3% against the dollar last week, and one-week implied volatility for dollar/yen is at its highest since March 2020. "The yen would explode higher, Japanese government bond yields would explode higher and global yields would go higher," he said. The New Zealand dollar held at $0.6394.

☆ Yen perched near 7-month high as BOJ decision looms
▼ + stars: | 2023-01-17 | by ( ) www.cnbc.com time to read: +3 min

A bundle of Japanese 10,000 yen banknotes on a tray arranged at a branch of Resona Bank Ltd. in Tokyo, Japan. The dollar drifted up from multi-month lows on Tuesday, while the yen was perched near seven-month highs as investors held their breath for a potential policy shift at the Bank of Japan. The yen rose 3% against the dollar last week, and one-week implied volatility for dollar/yen is at its highest since March 2020. "The yen would explode higher, Japanese government bond yields would explode higher and global yields would go higher," he said. The New Zealand dollar held at $0.6394.

☆ Asian stocks edge up before U.S. jobs data, defying Wall Street selloff
▼ + stars: | 2023-01-06 | by ( Kevin Buckland | ) www.reuters.com time to read: +3 min

U.S. E-mini stock futures ticked up 0.35%, pointing to a small bounce after the 1.16% overnight slide for the S&P 500 (.SPX). Wall Street sold off amid worries that a robustness in the jobs market would keep the Fed raising rates for longer, after data released on Thursday showed a bigger than expected rise in private payrolls and a drop in jobless claims. U.S. two-year Treasury yields spiked to a more than two-month high of 4.497% overnight but eased to 4.460% in Tokyo. The 10-year yield , which rose as high as 3.784% in New York, dropped to 3.726%. The dollar index is up 1.57% this week, putting it on course to snap a streak of three losing weeks.

Search resuls for: "Tony Sycamore"

25 mentions found