By Laura Matthews (Reuters) -The dollar softened against its major peers on Wednesday, helping the euro to a near eight-month peak, as the U.S. consumer price index showed inflation is subsiding, reinforcing expectations that Federal Reserve interest rate cuts are near. U.S. CPI rose moderately in July and the annual increase in inflation slowed to …
Dollar softens against euro as inflation data shows cooling Read More »
By Arathy Somasekhar HOUSTON (Reuters) – Oil prices settled 1% lower on Wednesday after U.S. crude inventories rose unexpectedly and as worries eased slightly that a wider Middle East conflict could threaten supplies from one of the world’s major regions for crude production. Brent crude futures closed 93 cents lower, or 1.15%, at $79.76 a …
Oil prices settle 1% lower after surprise rise in US crude stockpiles Read More »
JOHANNESBURG (Reuters) -South Africa’s rand firmed on Wednesday after U.S. inflation data strengthened expectations that rate cuts in the world’s biggest economy are near. At 1535 GMT, the rand traded at 18.0575 against the dollar, about 0.2% stronger than its previous close. Like other risk-sensitive currencies, the rand often takes direction from global drivers like …
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By Camillus Eboh ABUJA (Reuters) – Nigerian army troops have destroyed at least 27 illicit refining sites and seized stolen crude oil following raids this week on illegal oil bunkering sites in the Niger River delta, an army spokesperson said on Wednesday. Large-scale oil theft and sabotage of pipelines have hobbled output from Nigeria, Africa’s …
Nigerian army destroys 27 illicit refineries, seizes stolen oil Read More »
TRIPOLI (Reuters) – Libya’s Waha oil company’s production was reduced by 115,000 barrels per day due to maintenance on the pipeline pumping oil from the Waha field to Es Sider port, a company source told Reuters on Wednesday. The company’s production capacity is about 300,000 bpd, which is exported through Es Sider terminal. “The maintenance …
Libya’s Waha oil company loses 115,000 bpd due to pipeline maintenance, source says Read More »
LUSAKA (Reuters) -Zambia’s central bank held its benchmark lending rate at 13.50% in a decision announced on Wednesday, citing the economic impact of a severe drought among other factors. The central bank’s decision follows six successive monetary policy meetings at which the policy rate was raised. So far this year it implemented a 100-basis-point (bps) …
Zambia central bank holds key rate, citing impact of drought Read More »
WINDHOEK (Reuters) -Namibia’s central bank cut its main interest rate by 25 basis points to 7.50% in a decision announced on Wednesday. The southern African country’s repo rate had been at 7.75% since June 2023. Namibia’s inflation was at 4.6% in July in annual terms, the same level as in June but down from 4.9% …
Namibia central bank cuts main interest rate by 25 basis points Read More »
(Reuters) – South Africa’s Northam Platinum warned of a sharp fall in profit on Wednesday, saying it expected an uncertain global economic outlook to keep platinum group metal (PGM) prices low for “some time”. The company’s share price fell 4% in early trade. The JSE wider index was 0.2% up at 0751 GMT. It said …
Northam Platinum warns of profit fall as low PGM prices persist Read More »
By Koh Gui Qing and Lawrence White NEW YORK/LONDON (Reuters) -Stocks jumped and bond yields fell on Tuesday after data showed U.S. producer prices increased less than expected in July, reinforcing market expectations that cooling inflation will allow the Federal Reserve to cut interest rates soon. The producer price index for final demand gained 0.1% …
Stocks rise, bond yields drop on soft US PPI data Read More »
By Laura Matthews NEW YORK (Reuters) -The dollar softened against the yen on Tuesday and was weaker against a basket of its peers in calmer trading, as markets await U.S. inflation data that could indicate the outlook for Federal Reserve interest-rate cuts. Dollar/yen weakened after data showed U.S. producer prices increased less than expected in …
Dollar weakens as markets await US consumer price data Read More »
