Forex News

Economic data from Australia impressed today, with a sharp rise in full employment bringing the Australian unemployment rate down to 3.5%.

SINGAPORE (Reuters) – Credit Suisse said on Thursday it was taking “decisive action” to strengthen its liquidity by borrowing up to $54 billion from the Swiss central bank after a slump in its shares intensified fears about a broader bank deposit crisis.

SYDNEY (Reuters) – Australia employment rebounded strongly in February while the jobless rate fell back to near 50-year lows, data showed on Thursday, though the upbeat result was overshadowed by worries about global recession amid a rout in bank shares.

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever.

SINGAPORE (Reuters) – Battered Japanese bank stocks clawed back some of their heavy losses on Wednesday, as regulators and financial executives hosed down investor concerns about contagion after the collapse of Silicon Valley Bank (SVB).

By Ankur Banerjee SINGAPORE (Reuters) – Asian equities rose sharply on Wednesday, tracking a relief rally on Wall Street and as U.S. inflation data delivered no nasty surprises, reinforcing hopes the Federal Reserve will likely go for a smaller rate hike when it meets next week.

By Tom Westbrook SINGAPORE (Reuters) – The dollar found support in Asia on Wednesday as investors dialled back expectations of U.S. rate cuts as fear of a banking crisis ebbed and another stubbornly high inflation print landed.

Global banking shares took a fresh beating on Wednesday as Credit Suisse shares slid to a new record low as its largest investor said it could not provide the Swiss bank with more financial assistance.

LONDON (Reuters) – JPMorgan’s strategists ratcheted up the investment bank’s “underweight” recommendation on equities on Wednesday and urged switching into cash following the market rout caused by Silicon Valley Bank’s collapse.

LONDON (Reuters) – British markets, roiled by concerns about European banks after shares in Credit Suisse fell 30%, showed little reaction to Chancellor Jeremy Hunt’s budget on Wednesday.

LONDON (Reuters) – Britain is no longer forecast to enter a recession this year, finance minister Jeremy Hunt said on Wednesday, adding that inflation was forecast to fall to 2.9% by the end of the year.

FRANKFURT (Reuters) – European Central Bank policymakers are still leaning towards a half-percentage-point rate hike on Thursday, despite turmoil in the banking sector, as they expect inflation will remain too high in coming years, a source told Reuters.

A look at the day ahead in U.S. and global markets from Mike Dolan

COPENHAGEN (Reuters) – Denmark’s central bank on Wednesday forecast 4% inflation this year, more than half the level in 2022, and warned high wage increases could delay the slow-down of price increases.

A look at the day ahead in European and global markets from Ankur Banerjee

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever.

SINGAPORE (Reuters) – Asia’s share markets slid on Tuesday, with Japan’s financial stocks leading losses as fear of a U.S. banking crisis gripped investors ahead of crucial inflation data due later in the day.

LONDON (Reuters) – The health of the global banking sector as interest rates rise remained in the spotlight on Tuesday in the wake of the collapse of Silicon Valley Bank (SVB).

By Rae Wee SINGAPORE (Reuters) – The dollar languished near a multi-week low on Tuesday as fears of a broader systemic crisis following the collapse of a U.S. tech-focused lender left traders speculating that the Federal Reserve could pause its aggressive rate-hiking cycle.

By Lisa Pauline Mattackal and Medha Singh