Asian stocks inched lower on Thursday, while the dollar clung to overnight gains in cautious trading as U.S. Federal Reserve policymakers reiterated their commitment to reining in inflation despite signs of mounting economic headwinds.
Elon Musk doubled down on the price war he started at the end of last year, saying Tesla would prioritise sales growth ahead of profit margins in a weak economy.
The hawkish rhetoric from Fed speakers continued with Federal Reserve Bank of New York President John Williams saying that the inflation rate is still at problematic levels and that the U.S. central bank will act to lower it. The central bank's latest read on the state of the economy provides a snapshot of business, bank and worker conditions in the aftermath of the mid-March failure of two large regional banks that shook confidence in the U.S. financial sector.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philadelphia Police search for thieves who stole $200,000 in dimes destined for the Federal Reserve BankPolice are searching for six men who stole 2 million dimes from a tractor-trailer carrying them from the Philadelphia Mint.
Read more »
INDIA RUPEE Quiet day near 82/USD awaits rupee; long positions likely to hold onThe Indian rupee is expected largely unchanged to the U.S. dollar on Wednesday following range-bound Asian peers and more hawkish comments from Federal Reserve officials.
Read more »
China wants weaker US dollar as reserve currency, says Biden economist nomineeThere was 'some evidence' that China wants the dollar to weaken as the international reserve currency, said a White House nominee for a top economist position on Tuesday, and he urged Congress to raise the U.S. debt ceiling to protect the dollar's value.
Read more »
Strategists: US Dollar's Reserve Currency Status Eroding at 'Alarming Pace' – Economics Bitcoin News'The erosion of the dollar's reserve currency status has accelerated in recent years at an alarming pace,' said the strategists. $USD dedollarization reservecurrency
Read more »
Asian stocks ease, dollar subdued as investors tread with cautionAsian stocks edged lower on Thursday, while the dollar was on the back foot as investors remained cautious ahead of an expected 25 basis point hike in interest rates by the U.S. Federal Reserve next month.
Read more »
Asian stocks fall as upbeat Chinese data fails to impressAsian stocks weakened on Tuesday, brushing off an initial lift from better-than-expected Chinese economic data as signs of patchiness in the country's recovery weighed on investor sentiment.
Read more »