• MTS Economic News_20180207

    7 Feb 2018 | Economic News



• The dollar steadied against a basket of currencies on Wednesday as calm returned to global financial markets with investors partially reversing their rush to safe haven assets and moving back into stocks.

The dollar index against a basket of six major currencies was mostly flat at 89.608, nudging away from a two-week peak of 90.034 set overnight.

The euro inched up 0.05 percent to $1.2384 after slipping to a two-week low of $1.2314 the previous day.

The dollar was 0.2 percent lower at 109.310 yen after rising 0.5 percent overnight. It was still comfortably above the low of 108.460 reached the previous day during wild swings in global equities.

• China’s yuan advanced toward the strongest level since before its devaluation in 2015, shrugging off central bank signals that appreciation should slow.

• Secretary of State Rex Tillerson says the Russians are already attempting to interfere in the midterm elections — much like they did with the presidential race in 2016.

“We are seeing certain behaviors,” Tillerson explained during an interview with Fox News on Tuesday.

“There’s a lot of ways that the Russians can meddle in the elections,” he said. “A lot of different tools they can use.”

• Jim Carrey is quitting Facebook and dumping his stock — and is urging everyone else to do so as well.

"We must encourage more oversight by the owners of these social media platforms," Jim Carrey said in a statement to CNBC.

• German factories shifted into a lower gear at the end of 2017 with industry output falling more than expected in December, but a surge in orders and buoyant business sentiment point to solid growth in Europe’s largest economy in the coming months.

Industrial output edged down by 0.6 percent after rising by an upwardly revised 3.1 percent in November, the Statistics Office said on Tuesday. The December reading compared with the mid-range forecast in a Reuters poll for a fall of 0.5 percent.

• Prime Minister Theresa May is unlikely to provide the kind of clarity on her government’s Brexit blueprint that the European Union wants by the end of this week, according to a senior U.K. official.

• Oil prices rose on Wednesday, lifted by a report that U.S. crude inventories fell last week, although analysts warned that soaring U.S. output and a seasonal demand drop could soon weigh on crude.

Brent crude futures were at $67.44 per barrel at 0751 GMT, up 58 cents, or 0.9 percent, from the previous close.

U.S. West Texas Intermediate (WTI) crude futures were at $63.88 a barrel. That was up 49 cents, or 0.8 percent, from their last settlement.


Reference: Reuters, CNBC, Bloomberg, Market Watch
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