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Inflation shock drives European stocks to 3-month lows
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Euro zone to avoid recession, growth to accelerate in Q3 – ECB survey
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Britain to defy EU by scrapping Northern Ireland trade rules
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German trade with China largely unaffected by lockdowns – stats office
Take Five: Give me an FOMC, BOE, BOJ and SNB
Date: June 13, 2022
It’s a central bank-heavy week ahead, with the U.S. Federal Reserve expected to deliver its second straight half-point rate hike (at least) to bring inflation under control. Britain and Sweden, too, will likely lift interest rates again, while Switzerland may be getting ready to join the rate-hike club. In contrast, the Bank of Japan should...
UK slowdown fears mount as GDP unexpectedly shrinks in April
Date: June 13, 2022
By William Schomberg and Andy Bruce LONDON (Reuters) -Britain’s economy unexpectedly shrank in April, official figures showed on Monday, adding to fears of a sharp slowdown just three days before the Bank of England announces the scale of its latest interest rate response to the surge in inflation. Gross domestic product contracted by 0.3% after...
Explainer-What are the consequences of the yen’s fall to a 24-year low?
Date: June 13, 2022
By Saikat Chatterjee LONDON (Reuters) – The Japanese yen fell past the psychological 135 line to levels against the U.S. dollar last seen in October 1998. The scale of the move has repercussions for the domestic economy as yen-based import prices are surging at a record annual pace, heaping pressure on household balance sheets. The...
Surprise British GDP drop, EU tensions add to sterling woes
Date: June 13, 2022
By Julien Ponthus LONDON (Reuters) -Sterling fell against the dollar on Monday, coming under downward pressure from data showing Britain’s economy had unexpectedly shrunk in April and from tensions with the European Union over post-Brexit trade with Northern Ireland. Gross domestic product contracted by 0.3% after falling by 0.1% in March, the first back-to-back declines...
Yen falls to lowest level since 1998 as U.S. yields march higher
Date: June 13, 2022
By Alun John HONG KONG (Reuters) – The yen tumbled to its lowest against the dollar in 24 years on Monday, as the gap between Japanese and U.S. benchmark yields widened after red hot U.S. inflation data drove U.S. Treasury yields higher. The dollar rose as high as 135.22 yen, its highest since October 1998,...
Investment platforms face hangover after pandemic party
Date: June 13, 2022
By Iain Withers and Carolyn Cohn LONDON (Reuters) – The trillion-dollar retail investment express is losing steam, dampening the fortunes of British trading platforms that boomed during lockdowns on the back of a meme stocks frenzy. Many stock-pickers are steering clear of a turbulent market as living costs rise and the economy teeters, squeezing the...