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A whisker away from erasing losses
PETALING JAYA: The FBM KLCI is hair’s breadth away from recouping the RM228bil in market capitalisation it lost from the start of the year, exacerbated by the Covid-19-induced rout.
US job growth roars back
WASHINGTON: The U.S. economy created jobs at a record clip in June as more restaurants and bars reopened, but 31.5 million Americans were collecting unemployment checks in the middle of the month, and a resurgence in COVID-19 cases suggested the labor market could suffer a setback in July.
Fed balance sheet shrinks further
WASHINGTON: The U.S. Federal Reserve's massive stash of bonds and other assets slipped for a third straight week to its smallest size since mid-May, data released by the central bank on Thursday showed.
U.S. reports 55,000 COVID-19 cases in single day, hits new global record
(Reuters) - The United States reported more than 55,000 new COVID-19 cases on Thursday, a new daily global record for the coronavirus pandemic, as infections rose in a majority of states.
Fed mulls promises for the future, appears to discount yield curve control
NEW YORK: The Federal Reserve edged towards a longer-range plan for monetary policy at its meeting last month, raising serious questions about a strategy known as yield curve control that is untested in the United States, and signaling it may rely on explicit promises about its inflation or employment goals to steer public expectations.
Traders thought Apple had 'the holy grail' of oil data, but the quest continues
Every day, energy merchants collect and scrutinise whatever information they can find on fuel demand to get a trading edge: from satellite data tracking oil tankers worldwide to thermal images from cameras on pipelines and storage tanks.
Rupiah stumbles as rate cut looms, baht eases on budget gap
BENGALURU: Indonesia's stocks and currency were driven in opposite directions on Thursday by rising bets for arate cut, while the baht drifted lower on Thailand's plans for a bigger budget deficit to revive its Covid-19 coronavirus-battered economy.
Dollar's dominance to slowly melt away over coming year
BENGALURU: The dollar's dominance will slowly melt away over the coming year on weakening global demand and a sombre US economic outlook, according to a Reuters poll of currency forecasters whose views depend on there being no second Covid-19 coronavirus shock.
Gold zeroes in on yield curve control after topping US$1,800
NEW YORK: Fresh from cracking US$1,800 an ounce, the global gold market wants to know what the Federal Reserve may do next to rescue the US economy, with minutes due yesterday that are expected to shed light on the central bank’s willingness to embrace yield curve control.
Asian shares up after Wall St closes best quarter since 1998
TOKYO (AP): Asian shares were mostly higher Wednesday (July 1) after Wall Street capped its best quarter since 1998, shrugging off continued signs of global economic damage from the coronavirus pandemic.