Analysis: Currencies

Russia's Novak says no one has approached government about buying Nord Stream 2

ST PETERSBURG -Russian Deputy Prime Minister Alexander Novak said on Thursday that no one has approached the Russian government about buying the Nord Stream 2 gas pipeline. The Wall...

EU countries reach deal on new defence funding programme

BRUSSELS -European Union governments have reached an agreement on a 1.5 billion-euro EU scheme to fund defence investments, although some complained that its 'buy European' provisions are too...

Exclusive-Russia's Sberbank warns of economy overcooling, says key rate below 15% would spur growth

ST PETERSBURG -The Russian economy could cool down excessively due to high interest rates and may face difficulties returning to a growth path, Alexander Vedyakhin, First Deputy CEO of Russia's...

Gloom pervades ahead of Fed meet's outcome

A look at the day ahead in European and global markets from Rae Wee Markets head into Wednesday's Federal Reserve rates decision with much uncertainty around the global economy, trade...

US tariffs, tax hikes to depress UK growth this year and next, CBI forecasts show

LONDON -One of Britain's leading business groups on Wednesday slashed its forecast for economic growth in 2025 and next year due to headwinds from U.S. President Donald Trump's tariffs and an...

Currencies: On the brink

The dollar fell sharply again last week against the major G10 currencies, and it took Israel's surprise attack on Iran to give it some respite. But will that be enough to prevent it from plunging...

Sterling drops to six-week low against euro

Sterling rose against the U.S. dollar on Thursday but dropped to a six-week low against the euro, following weak economic data from the U.S. and the UK.  The euro hit its highest level...

AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia

LONDON -The world's largest aircraft lessor AerCap can recover over $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London's High Court ruled on Wednesday, though that...

Potato price surge fuels inflation pain for Russia's poorest

At a farm near Moscow, newly arrived guest workers from India are planting potatoes and cabbages - work closely monitored by central bank analysts as they prepare for board meetings to set interest...

EU's new Russia sanctions to target energy sector and banks

BRUSSELS -The European Commission proposed on Tuesday an 18th package of sanctions against Russia for its invasion of Ukraine, aimed at Moscow's energy revenues, its banks and its military industry. ...

UK pay growth slows as jobless rate rises to highest since 2021

LONDON -Pay growth in Britain slowed sharply and unemployment rose to its highest in nearly four years in the three months to April, official data showed on Tuesday, potentially making the Bank of...

Deal to get US-China trade truce back on track is done, Trump says

WASHINGTON/LONDON -President Donald Trump on Wednesday said he was very happy with a trade deal that restored a fragile truce in the U.S.-China trade war, a day after negotiators from Washington and...

Currencies: Harsh reality

The resilience of the US labor market and the maintenance of high interest rates are clearly not enough to halt the dollar's downward trend. In the absence of significant developments, let's take a...

Stocks climb, dollar dips with US-China trade talks eyed

NEW YORK -Global stocks climbed on Monday while the dollar retreated as talks began in London between the United States and China, aimed at cooling a trade dispute between the world's two largest...

Russian central bank delivers surprise rate cut, first since 2022

MOSCOW -The Russian central bank cut its key interest rate by a full percentage point to 20% on Friday, a surprise move by the bank which it justified by pointing to declining inflation pressure and...

Russia's Nabiullina on central bank rate cut, inflation and rouble

MOSCOW -Russian Central Bank Governor Elvira Nabiullina and her deputy Alexei Zabotkin addressed a news conference on Friday after the central bank cut its key rate to 20% from 21%. ...

ECB's Villeroy: France should stabilise public spending, focus on the wealthy first

PARIS -France cannot go on piling up debt and should stabilise its public spending, an effort to which everybody should contribute starting with the most wealthy, Bank of France head and European...

EU considers adding Russia to money laundering 'grey' list, FT reports

The European Union is considering adding Russia to its 'grey' list of countries with lax money laundering controls, the Financial Times reported on Friday citing officials. A final...

Sterling holds its own against stronger dollar, trade optimism lends supports

LONDON -Sterling ticked higher against the dollar on Thursday, one of the few major currencies to hold its own against the greenback which regained ground after weak U.S. data dragged it lower on...