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Dollar set for best week in a month on cautious Fed outlook for 2025

NEW YORK, Dec 13 (Reuters) - The dollar headed for its best weekly performance in a month on Friday, as investors priced in the possibility of the Federal Reserve cutting rates more slowly next year, while sterling fell after a surprise contraction in UK economic activity.The U.S. currency also rose against the yen after reports that the Bank of Japan could forgo a rate hike at its meeting next week.

Dec 13, 2024 - 4:23 PM

Foreigners add $19.2 bln to EM portfolios in November, IIF says

Dec 13 (Reuters) - Foreign investors added a net $19.2 billion to their emerging market portfolio holdings in November, with selling of stocks more than offset by a continuing flow of cash into EM debt, data from a trade group showed on Friday.Stock portfolios saw an $11.1 billion outflow while bonds attracted $30.4 billion last month, data from the Institute of International finance showed.

Dec 13, 2024 - 3:45 PM

Wall St Week Ahead Fed rate view in focus as robust stocks year draws to close

NEW YORK, Dec 13 (Reuters) - A banner year for U.S. stocks gets one of its last big tests with the coming week’s Federal Reserve meeting, as investors await the central bank's guidance on interest rate cuts.

Dec 13, 2024 - 3:07 PM

Canadian dollar falls for third straight week on trade war risk

TORONTO, Dec 13 (Reuters) - The Canadian dollar hit a 4-1/2-year low against its U.S. counterpart on Friday as investors worried about a potential trade war between the United States and Canada and dialed back bets on Federal Reserve interest rate cuts in 2025.The loonie was trading 0.1% lower at 1.4230 per U.S. dollar, or 70.27 U.S. cents, after touching its weakest intraday level since April 2020 at 1.4244.For the week, the currency was down 0.5%, its third straight weekly decline.

Dec 13, 2024 - 2:34 PM

Stocks lose ground while bond yields rise with rates in focus

NEW YORK/ LONDON Dec 13 (Reuters) - MSCI's global equity index was lower on Friday while the dollar index barely changed after five days of gains as investors waited for clues about the future path for interest rates from next week's U.S. Federal Reserve meeting.

Dec 13, 2024 - 2:11 PM

Rio Tinto’s $2.5 billion lithium plan is a win for Milei

Rio Tinto Group plans to invest $2.5 billion in a new lithium mine in Argentina in a win for President Javier Milei’s efforts to deregulate the country’s economy and lure foreign investment.The UK company plans to build a processing plant at the Rincon mine with an annual capacity of 60,000 tonnes of lithium carbonate, it said Thursday in a statement. Work on the facility, subject to permitting, will start in the middle of next year.

Dec 13, 2024 - 1:15 PM

Iron ore posts weekly gain as investors assess fresh Beijing stimulus

Singapore – Iron ore futures retreated on Friday, but ended the week higher as investors assessed top consumer China’s latest pledge of further stimulus measures to shore up its faltering economy.The most-traded January iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 1.12% lower at 797.0 yuan ($109.50) a metric ton.The contract edged 0.31% higher this week, marking its fourth consecutive weekly rise.The benchmark January iron ore on the Singapore Exchange fell 2.13% to $103.8 a ton, and has gained 2.65% so far this week.

Dec 13, 2024 - 1:00 PM

China tightens rules to curb methane emissions from coal mines

China will impose tougher curbs on the amount of methane released during coal extraction in an effort to reduce emissions of the powerful climate-warming gas, the environment ministry said on Thursday.Though methane is a significantly more potent greenhouse gas than carbon dioxide, it remains in the atmosphere for only about 10 years, compared to 1,000 years for CO2, meaning that a rapid cut in emissions could curb warming relatively quickly.

Dec 13, 2024 - 12:54 PM

Norilsk Nickel plans to sell all it produces in 2025

Moscow – Nornickel, the world’s largest producer of palladium and a major producer of refined nickel, on Friday said it plans to sell everything it produces in 2025, despite challenging conditions in the metals markets.Nornickel is not subject to direct Western sanctions, though restrictions against Moscow have prompted some Western companies to avoid buying Russian metal and complicated payment flows, leading Nornickel to redirect sales to Asia.

Dec 13, 2024 - 1:18 PM

Vale invests in US startup as part of decarbonization push

Vale Ventures, the corporate venture capital initiative of Brazilian miner Vale, said on Thursday it has invested in a Boston-based startup focused on developing solutions to decarbonize heat generation.The firm, Electrified Thermal Solutions, owns technology for heating industrial furnaces through electricity, without the use of fossil fuels, the mining giant said.The technology has strong potential for reducing greenhouse gas emissions in industrial processes in hard-to-abate sectors, such as the mining and steel industries, according to the mining firm.

Dec 13, 2024 - 12:45 PM

Big banks expect a quarter-point cut for ECB's first meeting of 2025

Dec 13 (Reuters) - Major brokerages including Bank of America, Goldman Sachs and Citigroup expect the European Central bank to cut interest rates by 25 basis points again at its first meeting of 2025 on Jan. 30 as inflation slows.Forecasters at financial institutions also see further rate cuts in 2025, with the ECB's benchmark rate largely expected to fall below the 2%-2.5% range economists view as neutral, meaning it neither stimulates nor restricts the economy.Money markets show traders see euro zone rates falling to around 1.85% by the end of next year, from 3% now. .

Dec 13, 2024 - 12:41 PM

TSX falls, poised for weekly losses amid economic concerns and tariff threats

Dec 13 (Reuters) - Canada's main stock index extended its losses from the previous session on Friday, hurt by mining and energy shares, while investors grappled with global economic uncertainty and tariff threats, weighing on the market sentiment.The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE),was down 122.34 points, or 0.48%, at 25,288.37, and was set for its first weekly loss in six.The index also inched closer to hit its biggest weekly loss since the week of September 3.

Dec 13, 2024 - 12:16 PM

US data has Fed striding toward rate cut next week, and tip-toeing into 2025

WASHINGTON, Dec 13 (Reuters) - Investors view it as a near given that the U.S. Federal Reserve will cut interest rates by a quarter of a percentage point at its Dec. 17-18 meeting, with more attention focused on policymakers' new economic projections released alongside the decision.

Dec 13, 2024 - 11:20 AM

Oil set for first weekly gain in three weeks

LONDON, Dec 13 (Reuters) - Oil prices rose more than 1% Friday, heading for their first weekly rise since the end of November, as additional sanctions on Russia ratcheted up supply worries, while a surplus outlook weighed on markets.Brent crude futures rose 34 cents, or 0.5%, to $73.75 a barrel by 1308 GMT, while U.S. West Texas Intermediate crude was up 32 cents, also 0.5%, at $70.34.

Dec 13, 2024 - 10:06 AM

US equity funds gain sixth weekly inflow on Fed rate cut expectations

Dec 13 (Reuters) - U.S. investors snapped up equity funds for a sixth consecutive week through Dec. 11, spurred by the potential for a Federal Reserve interest rate cut at the upcoming meeting, amid signs of a moderating labor market and cooling inflation.

Dec 13, 2024 - 9:56 AM

As euro zone risks mount, markets seek clarity on pace of ECB rate cuts

LONDON, Dec 12 (Reuters) - Euro zone markets swung on Thursday after the European Central Bank gave up a long-standing hawkish tilt but analysts were split on the signals it gave on how fast it will cut rates.

Dec 13, 2024 - 9:53 AM

London stocks steady after surprise contraction in October GDP

Dec 13 (Reuters) - The UK's blue-chip FTSE 100 nudged up on Friday, getting a slight boost from a weaker pound after data showed a surprise contraction in country's gross domestic product in October.The FTSE 100 (.FTSE), was up 0.1%, with a weaker pound supporting export-oriented companies, while the midcap FTSE 250 (.FTMC), also gained 0.2% at 1003 GMT but was set for its first weekly loss in four.Britain's economy shrank unexpectedly for a second month in October in the run-up to the new government's first budget.

Dec 13, 2024 - 9:46 AM

Wall St set to open higher following Broadcom's upbeat forecast

Dec 13 (Reuters) - Wall Street's main indexes were poised for a higher open on Friday, with futures tied to the Nasdaq outperforming their peers, after an upbeat forecast from Broadcom kept alive the euphoria around artificial intelligence and lifted chip stocks.Broadcom (AVGO.O), forecast quarterly revenue above Wall Street estimates on Thursday and predicted booming demand for its custom AI chips in the next few years, sending its shares 17.2% higher in premarket trading on the day.

Dec 13, 2024 - 9:25 AM

Global equity funds see robust weekly inflows on hopes of Fed rate cut

Dec 13 (Reuters) - Global equity funds attracted inflows for an 11th successive week through Dec. 11, supported by signs that a cooling U.S. labor market and stable consumer prices might facilitate a third consecutive rate cut by the Federal Reserve this month.Investors snapped up global equity funds worth a net $10.18 billion during the week, following about $21.19 billion worth of net purchases in the prior week, LSEG Lipper data showed.

Dec 13, 2024 - 9:16 AM

ECB's Centeno sees further gradual rate easing in coming quarters

LISBON, Dec 13 (Reuters) - European Central Bank policymaker Mario Centeno predicted on Friday further gradual interest rate cuts in the coming quarters to ease what remains a 'restrictive rate level' to around 2%.He said Thursday's decision to cut the ECB's key rate by 0.25 percentage points to 3% was 'fortunately absolutely consensual'.

Dec 13, 2024 - 9:03 AM

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