News
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US Treasury's Bessent: Kevin Warsh and Kevin Hassett both qualified for Fed
WASHINGTON, Dec 16 (Reuters) - Both former Fed Governor Kevin Warsh and White House economic adviser Kevin Hassett are qualified to lead the Federal Reserve, U.S. Treasury Secretary Scott Bessent told Fox Business Network on Tuesday, adding that he expects a Fed new chair in early January.Reuters
Tue, Dec 16
JPY strengthens ahead of BOJ rate decision – BBH
The Japanese Yen (JPY) gained against most major currencies as markets anticipate the Bank of Japan’s first rate hike since January, with PMI data showing modest growth and investors looking for clues on the central bank’s policy normalization path, BBH FX analysts report.
Fxstreet
Tue, Dec 16
China Crude imports surge in November – Commerzbank
China imported far more Crude than needed in November, adding to strategic reserves and helping prevent a sharper drop in global Oil prices, though the sustainability of this trend remains uncertain, Commerzbank's FX analyst Michael Pfister notes.Fxstreet
Tue, Dec 16
Brazil central bank concludes that rates-on-hold strategy is appropriate
By Marcela Ayres BRASILIA, Dec 16 (Reuters) - Brazil's central bank said on Tuesday it has now "concluded" that holding interest rates for a very prolonged period is appropriate to ensure inflation converges to its target, pointing to a slowdown in the job market and services infl...Reuters
Tue, Dec 16
Chinese Crude Oil Processing Edges Up 4% Y/Y in November – Commerzbank
China’s refineries processed 60.83 million tons of Crude Oil in November, up 4% from a year ago but slightly below October’s daily rate. Stronger output at independent refineries offset slower production at state-owned facilities due to maintenance.Fxstreet
Tue, Dec 16
REFILE-WRAPUP 1-European economies end year resilient but sluggish
Euro zone PMI weaker than expected on German industryUK PMI rises on budget reliefData points to modest growth momentum at turn of the year BoE is still seen cutting rates but ECB may be doneBy Balazs Koranyi and Indradip Ghosh FRANKFURT, Dec 16 (Reuters) - Europe's leading economies closed o...Reuters
Tue, Dec 16
Brazil's central bank highlights growing confidence in disinflation
BRASILIA, Dec 16 (Reuters) - Brazil's central bank highlighted on Tuesday its growing confidence in the disinflation process, noting that its restrictive monetary policy has played "a decisive role in the observed disinflation." In the minutes of its December 9-10 policy meeting, where i...Reuters
Tue, Dec 16
JD Vance tours Pennsylvania to make economic case amid inflation concerns
VP JD Vance visits Pennsylvania to highlight economic policies.Tour includes Uline warehouse, owned by major Trump donors.Rising costs and inflation create political pressure for Republicans.By Jarrett Renshaw PHILADELPHIA, Dec 16 (Reuters) - U.S. Vice President JD Vance will travel to Pennsylvan...Reuters
Tue, Dec 16
CNY gains 0.9% in November on trade-weighted basis – Commerzbank
The Chinese Yuan (CNY) continued its steady appreciation, supported by a weaker US Dollar (USD), with USD/CNY falling to 7.0471. Banking sector foreign currency reserves rose further, reflecting efforts to moderate the pace of CNY gains while maintaining a high trade surplus.
Fxstreet
Tue, Dec 16
Europe's leaders and laggards in electric vehicle sales
By Nick Carey and Marie Mannes LONDON/STOCKHOLM, Dec 16 (Reuters) - As the European Union has looked to push carmakers towards electric vehicles, sales of EVs across the continent have been uneven, skewed more to northern and western countries, while nations further south and east have tended to ...Reuters
Tue, Dec 16
ANALYSIS-India's exports defy tariffs, strengthen hand in US trade talks
India exports robust despite steep U.S. tariffsDiversification, services soften tariff shockStronger data eases urgency for U.S. trade dealExport resilience offers fresh leverage to New DelhiBy Manoj Kumar and Shivangi Acharya NEW DELHI, Dec 16 (Reuters) - India's exports leapt in November i...Reuters
Tue, Dec 16
UK flash Composite PMI rises to 52.1, beats 51.4 estimates
United Kingdom’s (UK) preliminary S&P Global Composite Purchasing Managers’ Index (PMI) comes in higher at 52.1 compared to expectations of 51.4 and the November's reading of 51.2. The Services and the Manufacturing PMI jumps to 52.1 and 51.2, respectively.Fxstreet
Tue, Dec 16
