Reuters US Economy

By Noe Torres MEXICO CITY (Reuters) – Mexico’s peso currency has reached its highest value versus the U.S. dollar in seven years, as the president celebrates its strength but analysts warn of harmful side effects on exports and remittances. The Mexican peso is among the top-performing currencies this year with a 12% surge against the …

Mexico’s ‘super peso’ keeps gaining, but exports will likely suffer Read More »

By Stephen Culp (Reuters) – The S&P 500 and the Nasdaq closed higher on Thursday as U.S. Federal Reserve Chairman Jerome Powell continued to beat a hawkish drum and suggested the central bank has not reached the end of its tightening cycle, but provided reassurance that the Fed would proceed with caution. The tech-heavy Nasdaq’s …

Wall Street ends higher as Powell wraps up testimony Read More »

By Hernan Nessi BUENOS AIRES (Reuters) -Argentina’s economy grew 1.3% year-on-year in the first quarter of 2023, the slowest rise since late 2020, as central bank spending to prop up the peso and boost exports offset a historic drought that has hammered grains production. The INDEC statistics agency said in a report on Thursday that …

Argentina posts weakest growth since 2020 as drought hits farm sector Read More »

BERLIN (Reuters) – The German government has loosened its requirements for export credit guarantees for companies doing business with Ukraine in an effort to shore up economic recovery in the country, the economy ministry said Thursday. Effective immediately, the application procedure will no longer require bank guarantees if the risk is justifiable, replacing a stricter …

Berlin loosens requirements for Ukraine export guarantees Read More »

By Michael S. Derby (Reuters) – Two Federal Reserve officials and a labor economist who aspires to join their ranks told U.S. senators on Wednesday that they will set policy based on data and the central bank’s official mandates, pushing back against some Republicans who suggested they might put personal politics first. When setting policy …

Fed nominees stress importance of inflation, job mandates in Senate hearing Read More »

By Steve Scherer and David Ljunggren OTTAWA (Reuters) -The Bank of Canada agreed that the need for further rate hikes would be determined by fresh economic data after it lifted rates to a 22-year high earlier this month, minutes from their policy meetings released on Wednesday showed. Analysts said the tone of the notes made …

Bank of Canada to gauge need for further hikes based on data -minutes Read More »

By Howard Schneider WASHINGTON (Reuters) – The Federal Reserve’s fight to lower inflation back to its 2% target “has a long way to go,” Federal Reserve Chair Jerome Powell said on Wednesday in testimony prepared for delivery to the House Financial Services Committee. “Inflation has moderated somewhat since the middle of last year,” with the …

Fed’s Powell, in testimony, says inflation fight has “long way to go” Read More »

By Matt Tracy (Reuters) -U.S. bond investors are coming around to using technology more to trade fixed-income products, as they seek to inject efficiency into processes that are still largely done manually, a study by financial analytics firm Coalition Greenwich and global fintech firm TS Imagine said. Traders have slowly adopted execution management systems (EMS) …

US bond traders seek edge by adopting tech -report Read More »

By Ann Saphir (Reuters) – Chicago Federal Reserve Bank President Austan Goolsbee said on Wednesday that the U.S. central bank needs more clarity on inflation and the labor market’s trajectory before deciding on its next step. “I feel like the Fed’s framework is, ‘wait and see,’” Goolsbee told the WSJ Global Food Forum in Chicago. …

Fed is taking ‘wait and see’ approach, Goolsbee says Read More »