By Jamie McGeever ORLANDO, Fla. (Reuters) – The European Central Bank appears committed to start raising interest rates next month, opening the door for hedge funds to load up on euros. And that is exactly what they are doing. U.S. futures market data shows speculators are holding their biggest net-long euro position in 12 weeks, …
Column-ECB rates pledge spurs punchy hedge fund euro bets: McGeever Read More »
By Lewis Krauskopf NEW YORK (Reuters) -A rally that lifted U.S. stocks from the brink of a bear market faces an important test next week, when consumer price data offers insight on how much more the Federal Reserve will need to do in its battle against the worst inflation in decades. Despite a rocky week, …
U.S. stock market rebound faces key inflation test Read More »
ANKARA (Reuters) – Turkish President Tayyip Erdogan said on Sunday that inflation figures from the month of May, when annual consumer prices jumped to a 24-year high, showed inflation was now on a downward trend. Inflation jumped to 73.5% in May – fuelled by a tumbling lira, rising energy costs and the war in Ukraine …
Erdogan says May figures show inflation is on downward trend Read More »
PRAGUE (Reuters) – The Czech state budget will surpass 300 billion crowns ($13.05 billion) this year, overshooting a 280-billion-crown target, Finance Minister Zbynek Stanjura said, as spending is pushed up by the impact of war in Ukraine. Russia’s invasion of Ukraine was expected to hit the budget this year as the Czech Republic took in …
Czech budget deficit to surpass CZK 300 billion in 2022 amid Ukraine war -minister Read More »
CAIRO (Reuters) – Non-oil private sector activity in Egypt contracted for an 18th month in May as the Ukraine crisis, import restrictions and a devalued currency put pressure on prices, a survey showed on Sunday. The S&P Global Egypt Purchasing Managers’ Index strengthened to 47.0 from April’s 46.9, but still remained below the 50.0 threshold …
Egypt private sector activity extends contraction in May as inflation weighs-PMI Read More »
DUBAI (Reuters) – Saudi Arabia’s non-oil private sector continued strong growth in May, notching its 21st consecutive month of expansion, as demand withstood rising output costs, a survey showed on Sunday. The headline seasonally adjusted S&P Global Saudi Arabia Purchasing Managers’ Index (PMI) for the whole economy was steady at 55.7 in May, the same …
Saudi non-oil private sector grows solidly in May, steady from April – PMI Read More »
ABIDJAN (Reuters) – Ivorian economist Jean-Claude Brou, president of West Africa’s main political bloc, has been nominated by Ivory Coast President Alassane Ouattara to be governor of the regional central bank, a source familiar with the matter said. Brou has served as president of the Economic Community of West African States (ECOWAS) commission since 2018. …
Ivorian economist Brou nominated West Africa central bank governor Read More »
By Ann Saphir (Reuters) -The Federal Reserve may need to continue raising rates at the current clip through September unless there is “compelling” evidence that inflation has peaked based on a range of data, Cleveland Federal Reserve Bank President Loretta Mester said on Friday. Mester and other policymakers, including Fed Chair Jerome Powell, have already …
Fed may need to stick to half-point rate hikes – Mester Read More »
MADRID (Reuters) – Activity in Spain’s services sector slowed down in May though companies created jobs at the fastest rate in almost a year as companies’ capacity is stretched, a survey showed on Friday. S&P Global’s Purchasing Managers’ Index (PMI) of services companies, which account for around half of Spain’s economic output, fell to 56.5 …
Spain’s services activity slows in May, though jobs rise -PMI Read More »
(Reuters) – European shares opened higher on Friday, with investors awaiting U.S. non-farm payrolls data to make bets about central bank tightening, while also bracing for any change in stance from the European Central Bank at its meeting next week. Broad-based gains saw the pan-European STOXX 600 index rise 0.4% by 0707 GMT, placing it …
European shares open higher with eyes on U.S. data Read More »
