Oil rose on Thursday on supply concerns and as a Bank of England interest rate hike defied some expectations of a larger increase.
The Russian rouble soared past 59 to a one-month high against the dollar on Thursday and gas giant Gazprom's shares dragged resurgent stocks higher, as Russian markets recovered ground lost after the Kremlin ordered a partial military mobilisation.
Norway's central bank raised its benchmark interest rate by a widely-anticipated 50 basis points to 2.25% on Thursday, but said future hikes would be more "gradual", weakening the country's crown currency.
Turkey's central bank delivered another surprise interest rate cut on Thursday, by 100 points to 12%, sending the lira to an all-time low, even as inflation rose above 80% and as central banks globally race in the other direction to tighten policy.
Wall Street futures were muted on Thursday as investors assessed the impact on U.S.
Indonesia's central bank increased interest rates by more than expected on Thursday as it sought to rein in inflation after the government raised subsidised fuel prices earlier this month, while also supporting the rupiah currency.
Europe's decade-long experiment with negative interest rates, which ended on Thursday with the Swiss National Bank's return to positive territory, showed one thing: they can exist beyond the realms of economic science fiction.
European shares fell on Thursday, with tech stocks sliding after the U.S.
The Philippine central bank hiked its benchmark interest rates by half a percentage point on Thursday, and said it was ready to take further action as it raised its inflation forecasts for this year and next, and as the peso sank to a record low.
The Indian government is not averse to a weaker rupee in line with global market fundamentals, a senior official told Reuters, at a time when the central bank's intervention has tried to moderate the depreciation in the Indian currency.
A Federal Reserve dead-set on fighting inflation is leaving little hope that this year's rocky markets will end anytime soon, as policymakers signal rates rises faster and higher than many investors were expecting.
The U.S. dollar pushed to a fresh two-decade high versus major peers on Thursday, propelled by the Federal Reserve's hawkish outlook for interest rates and Russian President Vladamir Putin's mobilisation of more troops for the war in Ukraine.
Brazil's central bank on Wednesday chose to keep interest rates unchanged, pausing an aggressive monetary tightening cycle even as U.S.
The Bank of England looks set to raise interest rates by at least half a percentage point on Thursday in a bid to tame inflation that is just off a 40-year high, against a backdrop of a tumbling currency and a free-spending government.
The Bank of Japan is expected to keep interest rates ultra-low on Thursday and reassure markets that it will continue to swim against a global tide of central banks tightening monetary policy to combat soaring inflation.
The rouble recovered from two month lows and Russian stocks pared losses on Wednesday after earlier plunges triggered by President Vladimir Putin's move to order Russia's first military mobilisation since World War Two.
Earlier this year, markets were complacent as Russia massed troops on the Ukraine border.
U.S. existing home sales dropped for the seventh straight month in August as affordability deteriorated further amid surging mortgage rates and stubbornly high house prices, though the pace of decline moderated from prior months.
Barbados has issued the world's first government bond with a clause allowing payments to be suspended in the event of another global pandemic, a move expected to attract interest from dozens of other countries savaged by the COVID-19 crisis.
The pound touched a new 37-year low against the dollar on Wednesday after Russian President Vladimir Putin's accusation of "nuclear blackmail" by the West boosted the safe-haven dollar.
Britain's budget deficit was bigger than expected in August, a reminder of the difficult financial backdrop for new finance minister Kwasi Kwarteng as he readies his first "mini-budget" fiscal update to parliament.
European shares traded in a narrow range on Wednesday as investors digested Russia's first mobilisation since World War Two while they waited for the U.S.
A quadrillion yen is lying idle with Japanese households, ready to be shipped overseas when yields abroad turn more attractive, and that moment could arrive as soon as this week.
With prices falling like a stone as central bank tightening goes into overdrive, buying bonds may appear confused - but perhaps that very confusion is good enough reason in itself.
The Federal Reserve is expected on Wednesday to lift interest rates by three-quarters of a percentage point for a third straight time and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation.
Expectations of more Federal Reserve tightening and economic worries are weighing on a rebound in consumer discretionary stocks, though some investors believe the sector will outperform other areas of the market if growth begins to wobble in coming months.
Japan will not intervene to stem the yen's decline, said just over half of economists polled by Reuters, though a fifth said weakening beyond 150 per U.S.
The Bank of Japan's dovish deputy governor Masayoshi Amamiya ranked top among candidates to become the bank's next head in a Reuters poll of economists, a sign he remains the market's favourite to succeed incumbent Governor Haruhiko Kuroda.
India's government is in no hurry to push inflation - now hovering near 7% and eight-year highs - back to the central bank's 4% medium-term target, for fear that aggressive rate hikes could hurt economic growth, two sources with direct knowledge of the matter said.
In the last five months, the greenback has gained roughly 10% against the yuan due to a combination of monetary tightening in the U.S. and monetary loosening up in China.
