Global equities, oil prices and bitcoin plunged Monday on heightened recession fears triggered by runaway inflation.The dollar, however, gained versus major rivals, benefiting from its status as a haven investment and expectations of aggressive interest-rate hiking from the Federal Reserve (Fed).Bond yields also rose, with 10-year United States (US) Treasuries above 3.3 percent and Italy's 10-year debt breaking four percent for the first time in more than eight years.The US currency stru

Asian markets rose Monday as investors rediscovered some verve after the release of healthy United States (US) data and as China eases some of its strict COVID curbs in Shanghai and Beijing, lifting hopes for the world's number two economy.The gains extended a positive end to last week for global equities with some commentators saying there was a growing hope that the months-long sell-off may have run its course.Wall Street provided a strong lead and snapped a series of weekly losses, wi

The United States (US) dollar is up 12 percent against the euro over the past year and, at €0.93, is approaching parity. If prices of oil and other commodities now seem high in dollar terms, they look even higher in euros.

Asian equities were mostly up Friday following a tumultuous trading period on Wall Street, which rebounded at the close after investors calmed down about United States (US) policies to counter surging inflation.World markets have been volatile for much of 2022 owing to China's COVID-19 lockdowns, Russia's invasion of Ukraine, and as surging inflation weighed on consumer sentiment.The Federal Reserve (Fed) last week had announced its largest rate hike since 2000 and signalled that si

Could the world be headed for another recession?Just as the global economy is bouncing back from the COVID-19 pandemic, a growing list of risks is clouding the economic outlook – although most economists still believe a recession this year is relatively unlikely.The war in Ukraine, Russia sanctions, China’s “zero COVID” policies, spiking inflation, and interest hikes by the United States (US) Federal Reserve (Fed) are all set to crimp growth in 2022.The question is whether deteriorating condi

A few years ago, China’s currency seemed to be rising inexorably to global dominance. The renminbi had become the fifth most important currency for international payments, and in 2016, the International Monetary Fund (IMF) included it in the basket of major currencies that determines the value of Special Drawing Rights (the IMF’s global reserve asset). Since then, however, the renminbi’s progress has stalled.

Hong Kong stocks rallied Monday, leading most Asian markets higher after last week's losses, with investors cheering a decision by the city to suspend plans to push through a controversial extradition law.Investors are also moving cautiously ahead of two huge market-moving events: the Federal Reserve policy meeting this week with its plans for interest rates in focus, and the G20 summit next week where Donald Trump and China's Xi Jinping are due to hold trade talks.Investors returne