Market Pulse - Currencies
UK and South Korea reach preliminary post-Brexit trade deal
The UK and South Korea have reached a preliminary post-Brexit trade agreement, marking the first major deal struck with an Asia nation since the 2016 referendum.
Week ahead: Chinese data, G-20 finance ministers meeting in focus
The focus over the coming week will be on a barrage of data out of the People's Republic of China, as investors try to better gauge how the Asian giant is coping with the ongoing slowdown and trade tensions.
Russian destroyer nearly collides with American cruiser in Philippine Sea, US Navy says
A Russian destroyer nearly collided with an American guided missile cruiser in the Philippine Sea overnight.
PBoC Governor says "tremendous" room left for more stimulus
China's central bank has "tremendous" room to provide further policy stimulus if trade tensions with Washington escalate, its Governor said at the end of the week.
Sector movers: Investors in 'defensives' breathing easier, at least for now
Defensive issues led the way higher on Thursday despite it being an up day for FTSE 350 stocks, possibly denoting underlying caution on the part of investors.
Friday preview: US May non-farm payrolls squarely in focus
The focus at the end of the week will be squarely on the US non-farm payrolls report for the month of May.
US trade deficit slightly higher than forecast in April, March revised up
America's shortfall on trade with the rest of the world shrank slightly in April amid a decline in both exports and imports.
ECB's Draghi says no one talking about recession, QE restart considered
The European Central Bank pushed back on expectations for the date of its first rate hike, judging that an "ample degree" of monetary policy stimulus was still needed, given the uncertainty around geopolitics, trade protectionism and vulnerabilities in emerging markets.
Trump to decide on extra $300bn of China tariffs in two weeks
US President Donald Trump threatened China with an extra $300bn tariffs on Chinese imports on Thursday and that a decision might come in the "next two weeks", but added that he believes China wants a trade deal.
Rise in first quarter US unit labour costs revised sharply lower
US labour costs fell more quickly than expected at the start of 2019, as the rate of increase in hourly compensation was revised lower.
Bank of Russia governor says rate cut 'possible'
The governor of the Bank of Russia has confirmed that an interest rate cut is possible when the central bank next meets.
ECB says rates on hold 'at least' through first half of 2020
The European Central Bank pushed back on expectations for the first hike in official short-term interest rates, saying they would remain at their present level "at least" through the front half of 2020.
BoE governor calls for closer cross-border cooperation
The Governor of the Bank of England has called on emerging and advanced economies to work together more closely to reduce volatility in cross-border investing.
European Commission calls for Italy to be sanctioned over debt pile
The European Commission has recommended that Italy be sanctioned for failing to tackle its soaring levels of public debt.
Euro area producer prices surprise sharply to the downside in May
Factory gate prices in the single currency bloc dropped unexpectedly in April amid a downdraft in energy costs and falling inflation in France and Italy.
Euro area services PMI hits three-month high in May, but confidence sours
Eurozone services expanded at a "modest" pace last month, extending the sector's growth streak to just under six years, with Germany and Spain continuing to fare best, while in Italy activity levels continued to fall.
US claims China playing 'blame game' in trade war
The US has accused China of playing the "blame game” by misrepresenting why trade talks between the two powers had broken down, leading Washington to go ahead and raise tariffs on Chinese exports as it had threatened to do at the end of 2018.
Fed watching trade developments, Powell says
The Federal Reserve is watching developments in the international trade area closely and will act "as appropriate" in order to sustain the economic expansion, its chairman, Jerome Powell, said.
Reserve Bank of Australia cuts rates, some analysts critical
Rate-setters Down Under cut short-term official interest rates on Tuesday, arguing that it will support the labour market and cement inflation's rising path back towards target, with recent inflation outcomes having been "lower than expected".
Gazprom shares hit decade high on speculation of management changes
The market capitalisation of Russia's state-owned Gazprom reached its highest level since just after the start of the Great Financial Crisis at the start of the week, amid speculation that more management changes might be in the pipeline, Bloomberg reported.