U.S. retail sales unexpectedly rebounded in August as Americans ramped up purchases of motor vehicles and dined out more amid lower gasoline prices, but demand for goods is cooling as the Federal Reserve aggressively raises interest rates.
Wall Street's main indexes were set for a mixed open on Thursday as a slew of economic data pointed to resilience in the U.S.
The Bank of England and Britain's new finance minister Kwasi Kwarteng will test their ability to jointly manage the economy next week, with the BoE set to raise interest rates to fight inflation and Kwarteng eyeing tax cuts which could stoke prices.
Japan's efforts to stop the yen's sharp falls through unilateral market intervention would only have a limited impact, a senior member of the country's ruling party warned, as data showed the currency's recent tumble blowing the trade gap out to a record.
South Africa's central bank will raise its key interest rate by 75 basis points next week to brake inflation, a Reuters poll found, adding another 25 basis points in each of the following two quarters before pausing for the rest of 2023.
Japan should not raise interest rates to stem recent sharp falls in the yen to 24-year lows but instead deploy further fiscal stimulus to ease the pain of rising living costs caused by the weak currency, the head of the country's opposition party said.
Australian employment bounced back in August after a surprise dip the month before and the jobless rate edged up just a tick from a 48-year low, underlining the resilience of the labour market in the face of rising interest rates.
The dollar stood near recent peaks on Thursday as markets increased bets the Fed has more work to do in its aggressive tightening streak to curb red-hot inflation, while wariness of intervention kept the yen steady.
Japan ran its biggest single-month trade deficit on record in August as imports surged on high energy costs and a slump in the yen, exposing the economy's vulnerability to external price pressures.
New Zealand's economy rebounded sharply last quarter as a lifting of coronavirus restrictions and the return of tourists helped it dodge recession, though it may be a last hurrah for strong growth as surging interest rates steamroll demand.
Despite soaring global demand for natural gas, Canadian producers are struggling with volatile prices and deep discounts at Alberta's AECO hub, one of the largest storage facilities in North America and where the benchmark price for Canadian gas is set.
Expectations of a more hawkish Federal Reserve are pushing some investors to revise how much further bond yields can rise, a potentially unwelcome development for already-battered equity and fixed income markets.
Northeastern U.S. states could face disruptions to fuel supplies if rail transport shuts down in coming days due to a labor dispute, industry workers and analysts said on Wednesday.
The U.S. Securities and Exchange Commission (SEC) on Wednesday proposed draft rules to boost the resilience of the $24 trillion Treasury market, the world's largest bond market, which serves as a benchmark for dollar assets globally.
The U.S. Securities and Exchange Commission (SEC) on Wednesday unveiled draft rules to boost the use of central clearing in the $24 trillion Treasury market in a bid to boost its resilience.
Slowing economic growth is pushing up global debt levels, especially in emerging markets, the Institute of International Finance (IIF) said on Wednesday, warning of a significant rise in corporate bankruptcies ahead.
As investors weigh how much further the Bank of Canada will tighten, the level of underlying inflation is likely to be a better signpost than the central bank's much scrutinized estimate of the neutral interest rate, economists say.
U.S. producer prices fell for second straight month in August as the cost of gasoline declined further, resulting in the smallest annual increase in a year, which could allay fears of inflation becoming entrenched.
There is trouble ahead for Britain's new finance minister Kwasi Kwarteng: a marked shift in how British assets are behaving in markets points to growing unease about the economy's vulnerabilities.
U.S. stock index futures slipped on Wednesday after a sharp selloff on Wall Street in the previous session on rate hike jitters, while investors waited for more inflation data for cues on the pace of monetary policy tightening.
India's wholesale price inflation slowed in August helped by a fall in commodity prices, but double-digit price gains for the 17th month raise the chance for more rate hikes this month.
Federal Reserve officials adjourned their July 26-27 policy meeting with an unusually long eight-week break before their next gathering, sending a heavier-than-normal amount of U.S.
A rally that has the dollar on course for its best year since 1984 has further to run, traders and analysts say, suggesting more pain almost everywhere else as other currencies either crumble or require rapid rate hikes to stay put.
Lower fuel prices caused an unexpected fall in British inflation in August, official figures showed on Wednesday, offering some respite to households and the Bank of England after inflation hit a 40-year high the month before.
China's ruling Communist Party sets the stage next month for the biggest overhaul of its economic leadership in a decade, with a generation of reform-minded policymakers expected to step down amid worsening growth prospects.
Japanese Finance Minister Shunichi Suzuki said on Wednesday currency intervention was among options the government would consider in combating sharp falls in the yen, which meanwhile fell close to a 24-year low against the dollar.
Asian shares tumbled, the dollar held firm and the U.S.
An already-murky outlook for U.S. stocks and bonds is growing darker, as sizzling inflation ratchets up expectations for how aggressively the Federal Reserve will need to raise rates.
A broad sell-off sent U.S. stocks reeling on Tuesday after a hotter-than-expected inflation report dashed hopes that the Federal Reserve could relent and scale back its policy tightening in the near future.
Another source of potential stock market volatility looms in an already tough year for Wall Street: an approaching midterm U.S.
