The euro was set for its worst week versus the dollar in nearly two years, as the war in Ukraine and the prospect of sustained high commodity prices continued to drag on expectations of European economic growth.
The euro fell on Friday below $1.10 for the first time in almost two years and hit a fresh seven-year low versus the Swiss franc as the war in Ukraine lowered expectations of European economic growth.
Russia's invasion of Ukraine adds uncertainty to the U.S.
Currencies are in for a bumpy ride with already heightened volatility expected to increase over the next three months in the wake of Russia's invasion of Ukraine, according to a Reuters poll of analysts who forecast more pain for the battered rouble.
Japan's jobless rate rose to 2.8% as the surge in coronavirus infections and mobility curbs hit service sector activity, although a gauge of job availability grew to a 21-month-high in January, government data showed on Friday.
Japan's jobless rate rose to 2.8% and a gauge of job availability grew to a 21-month-high in January, government data showed on Friday.
South Korea's consumer inflation hovered near a decade high in February and stood above the central bank's 2% target for an 11th month, adding pressure on policymakers to raise interest rates amid surging oil prices due to the Russia-Ukraine crisis.
U.S. President Joe Biden's administration is studying whether waiving biofuel blending mandates could help offset a surge in prices for key food ingredients like corn and soy oil following Russia's invasion of Ukraine, two sources familiar with the matter said.
The current rally of U.S. grain and oilseed prices could help bolster American farm incomes this year, as Russia's invasion of Ukraine roils commodity markets over fears of massive disruption of exports from the Black Sea region, an economist for the Federal Reserve Bank of Chicago said Thursday.
The world is scrambling for oil after Russia's invasion of Ukraine sent prices rocketing and upended global supply but producers in Canada, home to the world's third-largest reserves, have no plans to significantly boost output.
With surging oil prices, concerns about the hawkishness of the Federal Reserve and fears of Russian aggression in Eastern Europe, the mood on Wall Street feels like a return to the 1970s.
Brazil's economy minister backs a proposal to expand cooking gas subsidies for low-income families in response to soaring crude prices during the Ukraine conflict, two Economy Ministry sources with knowledge of the matter told Reuters on Thursday.
Companies returned to Europe's corporate bond market to issue debt on Thursday after it remained frozen for a week following Russia's invasion of Ukraine.
Palladium extended gains to a more than seven-month high on Thursday, spurred by concerns over supply shortages following harsh sanctions on top-producer Russia, while the Ukraine crisis and soaring inflation lifted demand for safe-haven gold.
Global supply chain pressures eased in February as backlogs and delivery times improved in several key markets and a measure of ocean shipping costs declined, according to new data from the New York Federal Reserve released on Thursday.
Ukraine has exchanged all but $80 million of the $2.7 billion in new International Monetary Fund emergency reserves it received in August, IMF data show, and debt experts say it will likely need urgent debt relief this year.
Wall Street's main indexes struggled for direction on Thursday after a strong rally in the previous session as megacap growth stocks lost ground, while the Ukraine crisis kept investors on edge.
Wall Street's main indexes struggled for direction on Thursday, with growth stocks including Tesla and Advanced Micro Devices losing ground as the Ukraine crisis kept investors on edge.
Megacap growth stocks dragged the Nasdaq and S&P 500 lower on Thursday as investors worried that soaring commodity prices due to the Ukraine crisis will add to inflationary pressures.
British businesses' expectations for inflation over the next 12 months have risen to their highest in more than five years, according to a Bank of England survey that is likely to boost official concerns that soaring inflation may be slow to fall.
Price rises in Britain's services sector last month were the most widespread in more than 25 years as businesses recovered from the Omicron wave of coronavirus cases, a survey showed on Thursday.
The Moscow branch of a Chinese state bank has seen a surge in enquiries from Russian firms wanting to open new accounts, a person familiar with the matter said, as the country's businesses struggle with international sanctions after its invasion of Ukraine.
India's trade and current account deficits are likely to widen, putting pressure on the rupee, as global oil prices surge and the domestic economy reopens from a third wave of the pandemic, economists and analysts said.
W.M. Seneviratne sat watching a mechanised harvester slice through the jade green fields around him in eastern Sri Lanka's Agbopura village one recent morning, aware that this year's harvest would be only a fraction of what he was used to.
The Russian assets of Norway's $1.3 trillion wealth fund, the world's largest, have become worthless following Russia's invasion of Ukraine and selling them as instructed by the government will take time, the fund's CEO said on Thursday.
Norway's $1.3 trillion wealth fund, the world's largest, said on Thursday it held investments in Russia worth some 27 billion crowns ($3.03 billion) at the end of 2021, equivalent to 0.2% of its total value and down from 30 billion crowns a year earlier.
Commodity markets extended their bull runs on Thursday, with aluminium, coal and palm oil all hitting new records while crude oil and wheat scaled multi-year highs as Russia's invasion of Ukraine disrupted global raw material flows.
Commodity prices raced still higher on Thursday as Russia's invasion of Ukraine entered a second week, disrupting global raw material flows and boosting natural gas, coal and aluminium to record peaks, while crude oil and wheat scaled multi-year highs.
Home prices in Germany's booming property market look set to rise sharply again in 2022 and, while the pace will ease in coming years, the increases will still outstrip general inflation, a Reuters poll found.
Western drugmakers and medical device companies warn their plans to keep selling products to Russia may be complicated by economic sanctions targeting the country and its major banks in punishment over Moscow's invasion of Ukraine.
