Dollar Pauses for Breath as China GDP Beats Estimates

The dollar slipped on Tuesday after a sharp rise overnight as strong U.S. economic data reinforced expectations that the Federal Reserve will hike interest rates in May, while China’s economic recovery gathered pace in the first quarter. The dollar index, which measures the currency against six major rivals, eased 0.078% to 102.01, after rising 0.5% […]

Dollar Skids After Soft U.S. Economic Data; Impact of OPEC+ Cuts Fades

 The dollar stumbled on Monday, surrendering earlier gains following unexpected oil output cuts from OPEC+, as data showed the U.S. economy continued to slow with declines in manufacturing and construction spending. Data on Monday added to the narrative that the Federal Reserve is near the end of its rate-hike cycle. An announcement on Sunday of […]

Hard Questions’’Completely Blown’VW Pledges Commitment to Electric Mobility in China, Urges Extension of Tax Breaks

 A senior Volkswagen AG China executive reiterated on Saturday the German automaker’s commitment to quickening the pace of electrification in the world’s second largest economy despite issues such as intensified competition and weak demand. VW plans to increase the number of charging posts for electric vehicles in China to 17,000 by 2025, as it planned […]

Dollar Weakens as Inflation Data Lifts Euro

The U.S. dollar fell to a 1-week low against the euro on Thursday as German inflation data helped lift the common currency and as concerns over the banking sector receded. Inflation eased significantly in Germany in March on the back of lower energy prices but was above forecasts, adding pressure on the European Central Bank […]

China Calls U.S Debt Trap Accusation ‘Irresponsible'

 China on Thursday called remarks by U.S. Treasury Secretary Janet Yellen “irresponsible” and “unreasonable” after Yellen said Beijing’s lending activities leave developing countries “trapped in debt.” Yellen on Wednesday said she was concerned by some of China’s activities globally, particularly its lending to developing countries. She told U.S. lawmakers in a hearing that Washington was […]

Yuan vs. Dollar: The Battle for Global Supremacy

As the world’s two largest economies, the United States (US) and China have been engaged in a game of economic tug-of-war for decades. But for all that, recent developments suggest that the struggle for global supremacy between these superpowers may be taking on a more political dimension.   With China extending its political reach toward countries […]

Dollar Retreats as Banking Sector Fears Fade

The U.S. dollar fell against a basket of currencies for a second straight day on Tuesday as easing worries about a banking crisis revived investors’ appetite for riskier currencies. Investors took solace from First Citizens BancShares’ agreement to buy all of failed lender Silicon Valley Bank’s deposits and loans, and the fact that no further […]

Equities Fall on Risk Aversion with 2023, China Reopening in Focus

Equity indexes closed lower on Wednesday while U.S. Treasury yields rose as investors eyed 2023 with caution and weighed hopes for an economic boost from China’s relaxed COVID-19 restrictions against concerns about rising infections there. The yield on benchmark U.S. 10-year Treasuries rose for a third straight day, reversing an earlier decline as investors watched […]

Dollar Catches Footing Ahead of U.S. Midterms

The dollar steadied during Asia trade on Tuesday after some of the momentum ebbed out of bets on China’s reopening, and as traders looked ahead to U.S. midterm elections. The yuan had its best day in two years on Friday, and has held most of those gains since, but gave back a little bit through […]

Global Shares Rise, U.S. Dollar Falls After Strong Jobs Data

Global shares rose on Friday and the U.S. dollar fell, after jobs data came in stronger than expected but also hinted at some slack in the tight American labor market, raising hopes the Federal Reserve might ease up on monetary tightening. Data from the U.S. Bureau of Labor Statistics showed the economy generated 261,000 jobs […]