- A slowing manufacturing sector is starting to put a dent in U.S. diesel demand, traders and fuel experts said this week, helping rebuild stocks that were extremely tight a year ago and cooling fuel prices. U.S. distillate inventories in March climbed to within the five-year average for the first time in more than a year.
A slowing manufacturing sector is starting to put a dent in U.S. diesel demand, traders and fuel experts said this week, helping rebuild stocks that were extremely tight a year ago and cooling fuel prices. U.S. distillate inventories in March climbed to within the five-year average for the first time in more than a year.
Brazil's government debt as a share of gross domestic product grew to 73% in February, from 72.5% in January, central bank data showed on Friday. The Brazilian public sector posted a primary deficit of 26.453 billion reais for the month, below the 30 billion reais shortfall expected by economists polled by Reuters.
Money continued to flow into safer U.S. money market funds for a third consecutive week as investors remained unsettled about the banking sector crisis, with slowdown worries also affecting the sentiment. According to Refinitiv Lipper data, U.S. money market funds received a net $59.31 billion worth of inflows in the week to March 29.
Global money market funds continued to attract big inflows in the week ended March 29, as investors chased safer assets amid lingering worries over the turmoil in the banking sector and concerns over tightening economic conditions.
China's non-manufacturing activity expanded for the third consecutive month in March, official data showed on Friday, suggesting a strong services sector recovery is on track this year.
U.S. Federal Reserve emergency lending to banks was on balance fairly stable at very high levels as the financial system continued to contend with banking sector stresses, central bank data released on Thursday showed. As of Wednesday, banks tapped $88.2 billion from the central bank's discount window lending facility, versus $110.2 billion on March 22.
The U.S. dollar fell to a 1-week low against the euro on Thursday as German inflation data helped lift the common currency and as concerns over the banking sector receded. Inflation eased significantly in Germany in March on the back of lower energy prices but was above forecasts, adding pressure on the European Central Bank to further tighten its monetary policy.
Three Federal Reserve officials kept the door open on Thursday to more rate rises aimed at lowering high levels of inflation, with two noting banking sector problems could generate enough headwinds on the economy to help cool price pressures faster than expected.
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