Forex

LONDON (Reuters) – Official data revealed that Britain borrowed more than anticipated in October, highlighting the challenges faced by Finance Minister Rachel Reeves, who has pledged to both repair public finances and significantly boost spending. According to the Office for National Statistics, public sector net borrowing for October reached £17.4…

Japan’s government is planning a new stimulus package worth 21.9 trillion yen ($141 billion) in fiscal spending, which is expected to be approved this week, according to public broadcaster NHK on Thursday. The total package, including private sector contributions, amounts to 39 trillion yen, with 13.9 trillion yen allocated from…

STMicroelectronics shares dropped on Wednesday following the announcement of a delay in its long-term financial goals.   The semiconductor giant extended its target of reaching $20 billion in revenue with a gross margin of around 50% to 2030, revising its earlier timeline of 2025-2027. To address market uncertainties, the company introduced…

Some of the post-election gains in the US dollar have already been partially reversed, and UBS expects the currency to consolidate at current levels rather than push higher in the near term.   As of 06:15 ET (11:15 GMT), the Dollar Index, which measures the greenback against six major currencies, was…

On Wednesday, Japan’s ruling coalition reached an agreement with a key opposition party on the draft of an economic stimulus package, overcoming a significant hurdle for the $87 billion plan aimed at alleviating the impact of rising prices on households. The agreement, made between the Liberal Democratic Party (LDP), its…

Asian shares traded cautiously on Wednesday as investors awaited Nvidia’s highly anticipated third-quarter earnings, with significant risks of potential disappointment. The dollar, meanwhile, steadied after three consecutive sessions of losses.   Nvidia, the world’s most valuable chipmaker, is set to report results after the market close. Its shares surged 4.9% on…

A Preview of the Day in European and Global Markets by Stella  Asian trading remained muted as investors eagerly awaited the earnings report from Nvidia, the AI powerhouse and the world’s most valuable company with a staggering market cap of $3.6 trillion. With Nvidia shares already climbing 5% overnight, expectations…

Gold prices edged higher on Wednesday, supported by increased safe-haven demand driven by escalating Russia-Ukraine tensions. However, gains were capped by a firm dollar. The yellow metal recovered from recent two-month lows earlier in the week, aided by slight dollar weakness. Yet, the greenback stabilized on Wednesday, curbing gold’s momentum. …

The founding Ito family of Japanese retailer Seven & is reportedly seeking to raise over 8 trillion yen ($52 billion) to take the company private by the end of this fiscal year, according to NHK.  To achieve this, the family has created a special purpose company and is negotiating with…