U.S. stocks were set to open sharply lower on Friday as consumer prices rose more than expected in May, dashing hopes that inflation is peaking and fanning worries about more aggressive steps by the Federal Reserve to tame it.
U.S. stock indexes slid on Friday as consumer prices rose more than expected in May, dashing hopes that inflation is peaking and fanning worries about more aggressive steps by the Federal Reserve to tame it.
U.S. stocks ended down sharply on Friday and posted their biggest weekly percentage declines since January as a steeper-than-expected rise in U.S.
French President Emmanuel Macron is banking on a new package of inflation-busting sweeteners for voters to secure a majority in legislative elections this month being fought over households' squeezed purchasing power.
Czech headline inflation soared to 16% in May, above expectations, to hit a nearly 30-year high, statistics office data showed on Friday.
Japan's government and the central bank are "concerned" about recent sharp yen declines and stand ready to respond as needed on currency policy, they said in a rare joint statement on Friday.
Turkey's lira has lost nearly a quarter of its value this year as soaring inflation and the central bank's reluctance to raise interest rates stoke fears of another currency crisis.
European shares extended losses to a fourth session on Friday, as market participants braced for May U.S.
European shares slumped 2.7% on Friday after U.S. inflation came in hotter than expected, raising the prospect of a recession as central banks try to put a lid on prices.
A shift by Thailand's central bank to a more hawkish footing this week stunned markets and appeared to finally end policymakers' tolerance for mounting price pressures, but a range of risks are likely to keep any tightening gradual.
The Bank of England said on Friday it was satisfied lenders had taken steps to ensure they were no longer "too big to fail" in any future crisis, though it found shortcomings at three major banks.
The Bank of England is satisfied lenders have taken steps to ensure they are no longer "too big to fail" in any future crisis, it said on Friday, though it did find shortcomings at three leading banks.
Turkey's Treasury said on Friday fighting inflation remained its top priority after authorities announced fresh measures to shore up an economy beleaguered by surging prices and a sliding lira, though analysts expected the latest steps to have little effect.
Turkey's government launched a series of steps meant to harness its banks and bond markets to cool soaring inflation and stabilise a sliding currency, doubling down on President Tayyip Erdogan's aversion to raising interest rates.
Pakistan's government is set to present a budget for financial year 2022-23 on Friday aimed at tight fiscal consolidation in a bid to convince the International Monetary Fund (IMF) to release much-needed bailout payments for the cash-strapped country.
Pakistan Finance Minister Miftah Ismail on Friday unveiled the budget for the 2022/23 fiscal year starting July, aiming for economic growth of 5% amid pressure to control the fiscal deficit and secure International Monetary Fund (IMF) bailout money.
Hungary's price caps on fuel, some basic foods and energy could stay in place for a longer period if the war in Ukraine is entrenched, sustaining high inflationary pressures, Prime Minister Viktor Orban said on Friday.
Big U.S. banks including JPMorgan Chase & Co and Citigroup appear set for some earnings boost from a pick-up in the battered credit-card business, but a possible recession would pull consumers back and bring losses on outstanding loans.
Japanese imports likely jumped in May at the fastest pace in six months, buoyed by surging raw material prices and the yen's decline to two-decade lows, a Reuters poll showed on Friday.
India's retail inflation likely slipped modestly in May, but stayed well above the Reserve Bank of India's upper tolerance limit for a fifth consecutive month, as lower fuel prices offset surging food costs, a Reuters poll found.
Asian shares tracked a global equities sell-off on Friday as rate hike guidance from the European Central Bank and jitters over upcoming U.S.
Global equity markets slumped and the dollar strengthened on Friday after a bigger-than-expected U.S.
Oil prices slipped on Friday but remained within touching distance of three-month highs as fears over new COVID-19 lockdown measures in Shanghai outweighed solid demand for fuels in the United States, the world's top consumer.
Oil rose on Friday and was on track for another weekly gain supported by solid fuel demand in the United States, although fresh COVID-19 alerts in Shanghai and Beijing curbed gains.
The U.S. Federal Reserve will hike its key interest rate by 50 basis points in June and July, with rising chances of a similar move in September, according to a Reuters poll of economists who see no pause in rate rises until next year.
Japan's wholesale inflation moderated in May but yen-based import prices surged at a record annual pace, data showed on Friday, a sign the currency's sharp decline was adding to strain for the economy heavily reliant on commodity imports.
Japan's wholesale inflation moderated in May but yen-based import prices surged at a record annual pace, data showed, underlining that the currency's slump was becoming a major strain for the economy heavily reliant on commodity imports.
Japan's wholesale prices rose 9.1% in May from a year earlier, slowing from the previous month's increase as the recent spike in fuel costs moderated, data showed on Friday.
Mexican inflation rose faster than expected in May, data from the INEGI national statistics agency showed on Thursday, prompting bets the Bank of Mexico will continue hiking interest rates to combat spiraling consumer prices.
Canada and Germany have already pledged over $2 billion to a new administered account set up by the International Monetary Fund to help war-torn Ukraine, and other countries have expressed interest, IMF spokesperson Gerry Rice said on Thursday.
