The dollar held onto its post-payrolls gains early on Monday in a sluggish start to the week.» Read More
A bronze sculpture in China showing a bull firmly pinning a bear to the ground has garnered swift attention in the country.
*Market rebounds on cut in China rates, reserve requirements. NEW YORK, Aug 25- Markets rebounded on Tuesday with world stocks, oil prices and bond yields all rising after China cut interest rates and banks' reserve requirements in a bid to kick-start its wavering economic growth. The dollar turned around Tuesday to rise 1.2 percent against a basket of major...
The dollar rose on Tuesday, earning a breather from a slide to seven-month lows against the yen as U.S. Treasury bond yields climbed higher.
Adi Godrej, chairman of Godrej Group, says the benefits of a cheaper import bill for palm oil due to recent sharp falls in the ringgit and rupiah offset the negative currency impact on its consumer product business in Indonesia.
Apart from China-related fears, the possibility of an interest-rate hike in the U.S. also contributed to the global market meltdown, says Uwe Parpart, MD & Head of Research at Reorient Financial Markets.
The euro hit a 6 1/2-month high and the yen struck a peak against the dollar as investors flocked to safe haven currencies.
Following calls for parity against the dollar just a few months ago, the single currency is now one of the few assets in the world rallying.
NEW YORK, Aug 24- U.S. The global stock market rout began after Beijing surprised investors on Aug. 11 when it devalued the yuan, a move that sparked fears about a "currency war" in which nations seek to make their exports cheaper against their trading partners. "The China devaluation opened up Pandora's Box.
Jason Thomas, The Carlyle Group, shares his thoughts about systemic risk in China and the broader issues it indicates about the economy. And CNBC's Michelle Caruso-Cabrera adds insight.
*Shanghai stocks lose 9 pct, lack of steps from Beijing disappoints. Safe-haven government bonds and the yen and the euro rallied as widespread fears of a China- led global economic slowdown and currency war kicked in. "It is a China driven macro panic," said Didier Duret, chief investment officer at ABN Amro.
Users posted thousands of anguished comments on Weibo, the popular Chinese social media platform, as the country's indices plunged.
*Currency markets in risk-off mode on China growth worries. It last stood at $1.1470, up 0.6 percent on the day, with its sustained rise in the past few weeks likely to cause much unease within the European Central Bank. The dollar slid to 120.73 yen, down more than a full yen from 121.96 late in New York on Friday, reaching a low last seen on July 9.
Daryl Liew, head of portfolio management at REYL, attributes the meltdown on Wall Street to factors such as fears over a China-led slowdown in global growth and how that could derail the Fed rate hike.
TOKYO, Aug 24- Asian stocks dived to 3- year lows on Monday as a rout in Chinese equities gathered pace, hastening an exodus from riskier assets as fears of a China- led global economic slowdown roiled world markets. Safe-haven government bonds and the yen rallied on the widespread unrest in the financial markets, set in motion nearly two weeks ago when China...
Stephen Ma, head of Greater China equities at BMO Global Asset Management, says Chinese markets are seeing "signs of a perfect storm" in the short term on the back of a stubborn economic slowdown.
The safe-haven yen rallied and key government bonds were bought from the widespread unrest in the financial markets, set in motion nearly two weeks ago when China devalued its currency and generated fears about the state of its economy. Fears of a China- led global economic slowdown drove Wall Street to its steepest one-day drop in nearly four years on Friday...
Tim Seymour, CIO of Triogem Asset Management, says the fallout in global markets on the back of Beijing's move to devalue the yuan is "bizarre."
Ben Sy, head of fixed income, FX & commodities at JP Morgan, expects economic growth in China to be worse off in the second-half of the year hence exerting more pressure on the FX space.
The dollar tumbled more than 1 percent against the euro and the yen on Friday.
CNBC's Steve Liesman reports on comments by U.S. Treasury Secretary Jack Lew on China's currency move.