Trading in tumultuous foreign exchange markets is akin to being in a casino right now, according to some traders navigating markets that have been whipsawed as central banks and governments try to right their economies.
Asian markets attempted to stabilise on Tuesday after a wild few days of stumbling stocks, crumbling bonds, a plunging pound and soaring dollar, with the dollar easing a bit and stocks flat.
The worst may have yet to come as new and existing home sales are plunging, and homeowners see no reason to refinance loans at higher mortgage rates.
Sterling's slide to record lows leaves it staring at parity with the dollar.
The Danish authorities on Monday asked ships to steer clear of a five nautical mile radius off the island of Bornholm after a gas leak overnight from the defunct Russian-owned Nord Stream 2 pipeline drained into the Baltic Sea.
Some investors are growing concerned the dollar's meteoric rise is setting the stage for a rapid reversal, which would bruise those who have sought refuge in the U.S.
Oil markets are bracing for the biggest shift in global trade flows ever as nearly 3 million barrels per day of Russian crude oil and products will have to be diverted to markets outside Europe and advanced economies when European Union sanctions take effect in the coming months, Vitol executives said.
Under a new government, Australia is shaping up to be the next big market for offshore wind developers, attracting interest from the likes of Shell, Denmark's Orsted and Norway's Equinor.
Global oil stocks are set to rise next year amid weakening demand and a stronger U.S.
The pound plunged to a record low against the dollar early on Monday and British bonds were slammed on concerns over the government's fiscal plan, unleashing calls for the Bank of England to deliver an immediate rate hike to restore investor confidence.
The Pakistani rupee opened slightly stronger on Monday as market participants awaited the announcement of a new finance minister, at a time when the country grapples with economic turmoil worsened by devastating floods.
The fight against inflation is the biggest priority, France's finance minister said on Monday as he delivered a 2023 budget subject to what he called unprecedented uncertainty due to the fallout from Russia's war against Ukraine.
Euro zone government bond yields jumped to new multi-year highs amid expectations that central banks will keep tightening their monetary policy and a fresh sell-off in Britain gilts.
Italian shares jumped nearly 1% on Monday, outperforming their regional peers as Telecom Italia and financial stocks advanced after the right-wing coalition led by Georgia Meloni looked set to win the country's general election.
Global economic growth is slowing more than was forecast a few months ago in the wake of Russia's invasion of Ukraine, as energy and inflation crises risk snowballing into recessions in major economies, the OECD said on Monday.
China's central bank on Monday announced fresh steps to slow the pace of the yuan's recent depreciation by making it more expensive to bet against the currency, as global policymakers grappled with the economic effects of a broad dollar rally.
Sterling tumbled nearly 5% to an all-time low on Monday as investors ran for the exits after the new government's fiscal plan threatened to stretch Britain's finances to their limits.
The Bank of Thailand will deliver another 25 basis-point rate hike on Wednesday, its second in a row, even as many of its peers opt for larger increases to fight high inflation, a Reuters poll showed on Monday.
Sterling tumbled to a record low on Monday as traders scampered for the exits on speculation the new government's economic plan will stretch its finances to the limit.
Japan likely won't intervene in the currency market to defend a line-in-the-sand such as 145 yen versus the dollar, and instead limit any further action to smoothing operations aimed at taming volatility, former top currency diplomat Naoyuki Shinohara said.
Hedge funds went into the Fed's Sept. 20-21 policy meeting betting on a sign that a dovish pivot is looming onto the horizon.
Asian stocks were set to start the final week of the quarter on the slide on Monday, while the dollar stood ascendant, as the prospect of high interest rates and poor growth shakes markets.
Britain's Labour Party will unveil on Monday its plans to set up a national wealth fund to invest in green projects which will benefit the public, part of the opposition party's answer to the Conservative government's tax-cutting approach.
Grace Melt made her first visit to the Nourishing Hope food pantry on Chicago's North Side in August.
Britain's new economic agenda represents the biggest gamble for growth in a major Western democracy in at least 40 years, for which the chance of success fell instantly as investors ditched sterling assets.
A week of heavy selling has brought U.S. stocks and bonds to fresh bear market lows, with many investors bracing for more pain ahead.
Mario Draghi's outgoing Italian government is preparing to cut its growth estimate for 2023 to just above 0.5% as the energy crisis weighs on the euro zone's third largest economy, sources said ahead of official publication of the new economic forecasts next week.
Oil prices plunged about 5% to an eight-month low on Friday as the U.S.
U.S. high-yield corporate debt markets may be underpricing for the risk of a recession even as Treasuries and macroeconomic indicators reflect rising growth fears, but that may be tested soon with corporate earnings projected to worsen.
As central banks hike interest rates at a pace not seen in decades to control inflation, the alarm among bond investors over looming recession risks is spreading fast.
