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FRANKFURT: Resurgent coronavirus outbreaks will vex central bankers on five continents this week as they weigh the threat of more damage to growth against the hope that mass vaccinations will reopen economies.
PETALING JAYA: The ringgit may test the psychological level of 4.00 against the US dollar next week amid anticipation that Bank Negara would maintain the overnight policy rate at 1.75% at its meeting on Wednesday.
BEIJING: China’s inflation is likely to see moderate growth this year, but a consistent pickup is unlikely, given the constrained consumption of services, a senior central bank official said.
THE dollar found support from expectations of a continued economic recovery in the United States amid countries in Europe resorting to lockdowns to fend off a second Covid-19 wave; and expectations of higher government spending under the Biden administration – after a plunge in payrolls in December raised the prospect of more federal spending to aid the coronavirus-battered economy.
BENGALURU: South Korea and Thailand led Asia's emerging stock markets lower on Friday, as investors looked to the implementation of the $1.9 trillion of U.S. fiscal stimulus, while Taiwan's dollar advanced even as the central bank tried to rein it in.
THE reflation trade has been gathering momentum again in recent weeks as shown by rising U.S. Treasury yields and increasing inflation expectations.
NEW YORK: Oil prices edged higher on Thursday, boosted by a weak dollar and bullish signals from Chinese import data but pressured by renewed worries about global oil demand due to surging coronavirus cases in Europe and new lockdowns in China.
New York: President-elect Joe Biden will unveil a stimulus proposal on Thursday designed to jump-start the economy during the coronavirus pandemic and help minority communities with around US$1.9 trillion in aid.
NEW YORK: Wall Street closed lower on Thursday after making a u-turn toward the end of the session as reports emerged about U.S. President-elect Joe Biden's pandemic aid proposal following earlier data that showed a weakening labor market