Reuters US Economy

By Marion Giraldo MEXICO CITY (Reuters) – Latin America’s highest-income countries, with the exception of Argentina, will grow moderately this year and next because external demand will remain weak, the Organisation for Economic Co-operation and Development (OECD) forecast on Thursday. In its semiannual outlook for the region, the Paris-based organization said the seven main Latin …

Latin America’s seven largest economies to grow 1.4% this year, OECD forecasts Read More »

By Leigh Thomas PARIS (Reuters) – The global economy is growing faster than expected only a few months ago thanks to resilient U.S. activity while inflation is converging more quickly than expected with central banks’ targets, the OECD said on Thursday, upgrading its outlook. The global economy would maintain the 3.1% growth rate seen last …

OECD upgrades global growth outlook as U.S. outperforms Read More »

By Gavin Maguire LITTLETON, Colorado (Reuters) – The four-month window from May through August marks the high point for power generation and demand in the state of Texas, the largest U.S. user of fossil fuels for power generation and the country’s top power sector emitter. A key driver of Texas power demand is an annual …

Column-Texas enters peak season for power output and emissions: Maguire Read More »

(Reuters) – The dollar tumbled against the yen late Wednesday afternoon, recoiling further from 34-year highs two days after traders said Japanese authorities were buying yen to support their currency, which had fallen 11% this year. Dollar/yen suddenly fell more than 3% from late Tuesday levels, trading as low as 153.00. That was below the …

Dollar/yen nosesdives again as market watches for BOJ intervention Read More »

OTTAWA (Reuters) -The Bank of Canada is getting closer to being able to start cutting interest rates from their current 23-year highs, Governor Tiff Macklem said on Wednesday. In testimony to the Senate banking committee, Macklem said inflation was coming down and Canadians wanted to know when the central bank would start cutting interest rates. …

Bank of Canada closer to being able to cut rates, Macklem says Read More »

(Reuters) – The Federal Reserve on Wednesday said it would leave interest rates unchanged and announced plans to slow the speed of its balance sheet drawdown, after having spent much of the earlier part of the year warning of this shift. The Fed said that starting on June 1 it was reducing the cap on …

FOMC holds rates in place and will slow balance sheet drawdown Read More »

By Stephen Culp NEW YORK (Reuters) -U.S. stocks closed mixed on Wednesday after the Federal Reserve left its key interest rate unchanged, as expected, and indicated that while its next move will likely be a rate cut, continued progress on inflation is not assured. The S&P 500 and the Nasdaq ended lower while the Dow …

S&P 500, Nasdaq end lower after Fed rate decision, Powell press conference Read More »

RIYADH (Reuters) -Saudi Arabia’s real gross domestic product (GDP) decreased 1.8% year-on-year in the first quarter, flash estimates by the government’s statistical authority showed on Wednesday, as a decline in oil activities continued to hurt overall growth. The kingdom’s GDP had shrunk 3.7% in the fourth quarter of 2023, as cuts to oil production and …

Saudi Arabia’s Q1 GDP shrinks by estimated 1.8% y/y as oil sector weighs Read More »

A look at the day ahead in European and global markets from Kevin Buckland The marquee markets event for the week is almost upon us, and needs little introduction: The outlook for U.S. interest rates continues to be the elephant in the trading room for all asset classes, responsible not only for recent peaks in …

Morning Bid: Fed day focus is on what Jay says Read More »