Dollar rises towards 20-year high, euro dips after weak data
The dollar rose back towards a 20-year high on Monday as the euro struggled around the $1.05 mark, with investors preparing for a busy week of central bank meetings including a likely Federal Reserve interest rate hike.
Analysis: Globalised yuan complicates Beijing’s bid to stem capital flight
This month’s dive in China’s currency has revived memories of past routs but market participants say increased foreign holdings of yuan assets mean authorities are much less likely to curb the selling than they were in previous years.
HSBC profit falls on credit charges as economic outlook worsens
HSBC (HSBA.L) has shelved plans for fresh stock buybacks this year after reporting an unexpected hit to its capital on Tuesday, as a cocktail of rising inflation, geopolitical drama and economic weakness dented its prospects.
Sri Lanka unilaterally suspends external debt payments, says needs money for essentials
Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials like fuel.
455,000 jobs were added in March, exceeding estimates: ADP
ADP reports that private payrolls increased by 455,000 in March, exceeding estimates. According to ADP, a payroll processing firm, employers increased employment opportunities at a steady pace in March, indicating that hiring remains strong despite signs of a tightening labor market. The increase in private average wages in August was 455,000, about in line with […]
Explainer: Challenges arise as Russia calls for gas payments in roubles
Russian President Vladimir Putin on Wednesday said the world’s largest natural gas producer would soon require “unfriendly” countries to pay for their fuel in Russia’s currency, the rouble.
Analysis: Investors see risks spiking, fear market-wide liquidity crunch
Wild swings in asset prices following Russia’s invasion of Ukraine are prompting some investors to pare risk in their portfolios, fearing that the type of volatility seen in commodities in recent weeks could hit other markets.
Explainer: Russia could work around SWIFT ban but with high costs
Western sanctions banning several Russian banks from the SWIFT international payments network with the potential threat of more to come if there is no end to the Ukraine conflict is likely to push Moscow to seek alternatives.
Visa, Mastercard block Russian financial institutions after sanctions
U.S. payment card firms Visa Inc (V.N) and Mastercard Inc have blocked multiple Russian financial institutions from their network, complying with government sanctions imposed over Moscow’s invasion of Ukraine.
Russia hikes rate to 20% in emergency move, tells companies to sell FX
The Russian central bank raised its key interest rate to 20% from 9.5% on Monday in an emergency move, and authorities told export-focused companies to be ready to sell foreign currency as the rouble tumbled to record lows.
