London copper prices edged up on Tuesday as a bullish run in the dollar paused, making greenback-priced metals cheaper to holders of other currencies. Three-month copper on the London Metal Exchange rose 0.6% to $8,920 a tonne by 0410 GMT, reversing four straight sessions of loss and rebounding from its lowest in four weeks hit in the previous session.
Australia's central bank raised its cash rate 25 basis points to a decade-high of 3.35% on Tuesday and reiterated that further increases would be needed, a more hawkish policy tilt than many had expected.
Philippine annual inflation blew past expectations in January to reach a fresh 14-year high on surging food prices, raising the chance of the central bank delivering a bigger interest rate hike to tame prices when it meets this month.
Japan's real wages rose in
December for the first time since March despite rising
inflation, as nominal pay grew at the fastest pace in nearly 26
years with robust winter bonuses.
Ottawa Savings Bancorp Inc (OTTW): * OTTAWA BANCORP, INC. ANNOUNCES FOURTH QUARTER AND FISCAL 2022 RESULTS. * Ottawa Savings Bancorp Inc (OTTW) - QTRLY EARNINGS PER SHARE $0.22 Source text for Eikon: Further company coverage:
The U.S. Federal Reserve may need to lift borrowing costs higher than previously anticipated given the unexpectedly strong reading on jobs gains in January, Atlanta Federal Reserve Bank President Raphael Bostic said on Monday. The Fed could also consider raising the rate by half-a-percentage-point, he told Bloomberg News, though that is not his base case.
Goldman Sachs (GS) said on Monday it now sees a 25% probability of the United States entering a recession in the next 12 months, down from a previous 35% forecast. "Continued strength in the labor market and early signs of improvement in the business surveys suggest that the risk of a near-term slump has diminished notably," the bank said in a research note.
Goldman Sachs (GS) said on Monday it now sees a 25% probability of the United States entering a recession in the next 12 months, down from a previous 35% forecast. "Continued strength in the labor market and early signs of improvement in the business surveys suggest that the risk of a near-term slump has diminished notably," the bank said in a research note.
* ATLANTA FED'S BOSTIC SAYS HIGHER PEAK RATE ON TABLE AFTER JOBS BLOWOUT - BLOOMBERG NEWS. * ATLANTA FED'S BOSTIC SAYS THE FED MAY HAVE MORE WORK TO DO- BLOOMBERG NEWS. * ATLANTA FED'S BOSTIC SAYS FEDERAL OPEN MARKET COMMITTEE COULD ALSO CONSIDER MOVING BACK TO A 50 BASIS-POINT HIKE IF IT NEEDED TO - BLOOMBERG NEWS.
The dollar jumped to a four-week high against the euro on Monday, as last week's blockbuster U.S. jobs report raised the likelihood of the U.S. Federal Reserve keeping on with its inflation-fighting interest rate hikes for longer. The euro slipped 0.6% against the dollar to $1.0724, its lowest since Jan. 9, following a 1% drop on Friday.
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