Forex News

A look at the day ahead in markets from Dhara Ranasinghe.

SYDNEY (Reuters) – Australia’s central bank raised its cash rate 50 basis points to 1.35% on Tuesday and flagged more tightening ahead as it struggles to contain surging inflation.

By Enrico Dela Cruz and Karen Lema MANILA (Reuters) – Philippine inflation surged to the highest level in nearly four years in June, cementing expectations for more interest rate hikes and increasing the prospect of the central bank acting more aggressively to temper price pressures.

WELLINGTON – New Zealand’s business confidence continued to worsen in the second quarter of this year as companies grappled with increased costs and higher interest rates, a private think tank said on Tuesday.

By Jorge Otaola and Walter Bianchi BUENOS AIRES (Reuters) – Argentina’s closely-watched black market peso crashed around 11% after the country’s economy minister quit abruptly over the weekend and was replaced by an economist more closely aligned with the far-left wing of the ruling Peronist coalition.

By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – Bundesbank President Joachim Nagel objected to the European Central Bank’s promise of fresh support for the bloc’s indebted south at an emergency meeting last month, reviving a divide between the ECB and its biggest shareholder, sources familiar

By Lucy Raitano (Reuters) – The British pound rose against the dollar and euro on Monday, pulling away from two-week lows as risk sentiment improved and traders focused on any signals that the Bank of England could raise interest rates faster than expected.

By Bharat Gautam (Reuters) – Gold inched higher in choppy trade on Monday, as weakness in Treasury yields kept prices above the $1,800-mark and marginally outweighed pressure stemming from elevated U.S. dollar levels.

By Wayne Cole SYDNEY (Reuters) – Asian share markets started cautiously on Monday as a run of soft U.S. data suggested downside risks for this week’s June payrolls report, while the hubbub over possible recession was still driving a relief rally in government bonds.

By Tom Westbrook and Rae Wee SINGAPORE (Reuters) – The dollar kept trade-sensitive currencies pinned near multi-year lows on Monday and the euro was under pressure as investors sought safety due to worries about slowing global growth.

By Jorgelina do Rosario LONDON (Reuters) – From a $360 million project to expand Zambia’s international airport in Lusaka to a $1.4 billion city port in Sri Lanka’s capital of Colombo, China is the missing piece in the puzzle of a number of debt

ZURICH (Reuters) – Swiss consumer prices rose 3.4% in June, more than economists had expected and the first time inflation in Switzerland has topped 3% since July 2008.

A look at the day ahead in markets from Sujata Rao.

LONDON (Reuters) – The Federal Reserve has just delivered its biggest interest rate rise in over a quarter of a century and even the hitherto dovish Swiss National Bank has taken markets by surprise with an aggressive rate hike.

(Reuters) – After a torrid six months, world markets will be hoping for some sign that central banks might dial back their hawkishness. U.S. jobs data, if sharply below forecast, might prove that catalyst.

By Jorge Otaola BUENOS AIRES (Reuters) – Silvina Batakis arrives at Argentine’s Ministry of Economy in full-blown crisis mode, with inflation above 60%, a high fiscal deficit, fears rising about debt defaults and savers losing faith in the peso currency and anticipating a devaluation.

BEIJING (Reuters) – China’s central bank said on Monday that it has upgraded a currency swap facility with Hong Kong to a standing swap agreement and expanded the size to 800 billion yuan ($119.40 billion) from 500 billion yuan.

By Jorge Otaola BUENOS AIRES (Reuters) – Argentine President Alberto Fernandez held meetings and telephone calls on Sunday morning as he scrambled to find a new economy minister, official sources said, after the exit of ally Martin Guzman.

By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) – A decade ago Indonesia earned the unwelcome label of being among the so-called “Fragile Five” emerging markets, economies highly vulnerable to capital outflows and a currency slump whenever global interest rates rise.

By Satoshi Sugiyama KYOTO, Japan (Reuters) – Poring over the ledger at her more than 230-year-old liquor shop in Kyoto, Yasuko Fujii has mixed feelings about the return of foreign tourists who would crowd the streets of Japan’s ancient capital before the pandemic – and buy