ECONOMY & MARKETS

Oil hit its highest in seven weeks on Tuesday, supported by the European Union's ongoing push for a ban on Russian oil imports that would tighten supply and as investors focused on higher demand from an easing of China's COVID lockdowns.

The European Central Bank is expected to raise the deposit rate for the first time in over a decade in July and bring it out of negative territory at its following meeting in September, despite a 30% chance of recession within a year, a Reuters poll of economists showed.

Bank of England Governor Andrew Bailey said on Monday that the current surge in inflation was the central bank's biggest challenge since it gained independence in 1997, but denied that policymakers had been "asleep at the wheel".

A sell-off in U.S. stocks and bonds will likely dry up during the summer months as the Federal Reserve whittles down its nearly $9 trillion balance sheet, said Rick Rieder, chief investment officer of global fixed income at Blackrock, the world's largest asset manager.

Being long dollars will no doubt become an overcrowded trade at some point and a reversal will ensue, but for hedge funds right now, there is no alternative.

Wall Street was mixed on Monday, with energy stocks rallying and Tesla and other growth stocks losing ground as downbeat Chinese economic data added to worries about a global slowdown and rising interest rates.

The S&P 500 ended lower on Monday, with Tesla and other growth stocks losing ground after downbeat Chinese economic data added to worries about a global slowdown and rising interest rates.

Wall Street ended lower on Monday, with energy stocks rallying and Tesla and other growth stocks losing ground after downbeat Chinese economic data added to worries about a global slowdown and rising interest rates.

China's property sales in April fell at their fastest pace in around 16 years as COVID-19 lockdowns further cooled demand despite more policy easing steps aimed at reviving a key pillar of the world's second-largest economy.

Japan needs a faster "third arrow" growth strategy focussing on promoting a carbon-neutral society, including by creating a financial hub in Tokyo for Asian firms aiming to go green, said Hiroshi Nakaso, considered a front-runner to be the country's next central bank chief.

The dollar started the week just off a 20-year high against its peers on Monday, as investors sought safety due to fears about global growth that were highlighted by Monday's poor Chinese economic data, sending the Aussie dollar lower.

The dollar started the week just off a 20-year high against peers on Monday, as investors sought safety due to fears about global growth while cryptocurrency markets appeared to find some stability after last week's turmoil.

The U.S. dollar index was lower on Monday after hitting a 20-year peak last week, with the global economy in focus after weak economic data from China highlighted worries about the prospects for a global slowdown.

The Australian dollar and the Chinese yuan came under pressure from weak Chinese economic data on Monday, while the U.S. dollar consolidated gains near a 20-year peak.

The U.S. dollar consolidated gains near a two-decade peak on Monday as poor Chinese economic data hurt cyclical currencies including the British pound and the Australian dollar lower.

Asian share markets were attempting a rare rally on Monday after Wall Street managed a bounce from deep lows, though investors were also braced for bad news from Chinese economic data due later in the session.

Asian share markets were struggling to sustain even a minor rally on Monday after shockingly weak data from China underlined the deep damage lockdowns were doing to the world's second-largest economy.

Japan's wholesale prices in April jumped 10% from the same month a year earlier, data showed on Monday, rising at a record rate as the Ukraine crisis and a weak yen pushed up the cost of energy and raw materials.

The front-runner to head Canada's Conservatives and likely challenger to Liberal Prime Minister Justin Trudeau is staging a rare series of attacks on the central bank as inflation soars, in a strategy to win party leadership that could hurt his chances in a general election.

Cuba?s ailing economy has begun to recover in some sectors after two years of pandemic-induced contraction but soaring global prices for food and fuel require "audacious" measures to tame inflation, economy minister Alejandro Gil told Cuban lawmakers on Saturday.

Afghanistan faces a budget deficit of 44 billion Afghanis ($501 million) this financial year, the country's Taliban authorities said on Saturday without clarifying how the gap between expected revenues and planned spending will be met.

Investors are studying an array of indicators for clues on how much further a brutal slide in U.S.

U.S. consumer sentiment slumped to its lowest level in nearly 11 years in early May as worries about inflation persisted, but household spending remains underpinned by a strong labor market and massive savings, which should keep the economy expanding.

Wall Street rallied on Friday, ending a week of wild market gyrations marked by signs of peaking inflation and worries that the Federal Reserve might tighten policy too aggressively.

Wall Street rallied to end higher on Friday, capping a week of wild market gyrations as relief at signs of peaking inflation vied with fears that policy tightening by the Federal Reserve could tilt the economy into recession.

It's Friday the 13th and more than $10 trillion has now been sliced off the value of global stock markets this year while 'Misery Indexes' that blend inflation and jobless rates are spiking.

As Canada's economy overheats, the Bank of Canada is likely to be among the first of the major central banks to lift interest rates to a more normal setting even as worries persist about record-high levels of household debt, strategists say.

New bank lending in China hit the lowest in nearly four and half years in April as the COVID-19 pandemic jolted the economy and weakened credit demand, central bank data showed on Friday, after it pledged to step up support to ward off a sharper slowdown.

Malaysia's economic growth picked up pace in the first quarter and was likely to accelerate further this year amid sustained demand and the reopening of international borders, the central bank said on Friday.