2026-01-29 11:49
MOSCOW, Jan 29 (Reuters) - Russian President Vladimir Putin on Thursday told his UAE counterpart Mohammed bin Zayed Al Nahyan that Russia was closely monitoring the situation in Iran and wanted to discuss it with him in Kremlin talks. Putin made the comment at the start of talks with the UAE president whose country has recently hosted peace talks between Russia and Ukraine. Sign up here. Earlier on Thursday, Kremlin spokesman Dmitry Peskov said that the potential for talks between the U.S. and Iran had not yet been exhausted, and that any use of force against Tehran could create "chaos" in the region and lead to dangerous consequences. Peskov was commenting a day after U.S. President Donald Trump urged Iran to come to the table and make a deal on nuclear weapons or face a possible U.S. attack. https://www.reuters.com/world/europe/russias-putin-tells-uae-leader-he-wants-discuss-iran-tensions-with-him-2026-01-29/
2026-01-29 11:44
Jan 29 (Reuters) - Futures linked to Canada's main stock index rose on Thursday, as precious metals extended their rally and oil advanced on lingering geopolitical concerns, while investors assessed Big Tech results from the U.S. March futures on Toronto's S&P/TSX Composite Index were up 0.3% as of 6:05 a.m. ET. Sign up here. Spot gold gained 1.4%, briefly hovering near $5,600 per ounce, supported by safe-haven demand amid continuing geopolitical uncertainty and concerns over the U.S. Federal Reserve's autonomy. The sell-off in the U.S. dollar eased on Thursday, but the currency remained close to multi-year lows. Silver prices were steady, while copper and other metal prices rose. Oil prices gained, with Brent crude futures surging past $70 per barrel for the first time since September amid fears of a potential U.S. strike on major oil producer Iran. Wall Street futures were largely flat as investors weighed earnings from Microsoft (MSFT.O) , opens new tab, Tesla (TSLA.O) , opens new tab and Meta (META.O) , opens new tab. While Tesla and Meta rose in premarket trading after disclosing plans for capex increases, Microsoft failed to impress with its cloud revenue growth. Rising commodity stocks helped Toronto's benchmark stock index (.GSPTSE) , opens new tab close higher on Wednesday, recovering from earlier losses triggered by the Bank of Canada flagging uncertainty around future policy moves. The Canadian central bank kept benchmark rates unchanged, as widely expected. The Fed also held rates steady on Wednesday, with Chair Jerome Powell noting that the risks to both inflation and employment have "diminished, but still exist." In corporate news, Celestica (CLS.TO) , opens new tab raised its full-year revenue outlook for 2026 after the bell on Wednesday, while Canadian Pacific Kansas City (CP.TO) , opens new tab slightly missed fourth-quarter profit estimates. FOR CANADIAN MARKETS NEWS, CLICK ON CODES: TSX market report Canadian dollar and bonds report CA/ Reuters global stocks poll for Canada , Canadian markets directory https://www.reuters.com/business/tsx-futures-rise-gold-extends-rally-oil-advances-2026-01-29/
2026-01-29 11:43
NIAMEY, Jan 29 (Reuters) - Gunfire and loud explosions echoed around Niger’s international airport in Niamey shortly before midnight in what two security sources described as a "terrorist attack", before calm returned to the capital on Thursday morning. Businesses and schools were open in the city of about 1.5 million, and people were moving about freely, apart from a cordoned-off zone near the airport which was heavily patrolled by defence and security forces, the Reuters witness said. Sign up here. Two security sources described the overnight incident to Reuters as a "terrorist attack" and said security had been reinforced around the airport following an internal alert about an imminent attack on the site. They said a store of uranium currently held at the airport had not been affected by the attack. Nigerien authorities moved the uranium yellowcake late last year from the Somair mine in Arlit to the Niamey base for export after seizing control of the mine from French nuclear group Orano, according to two other sources, who estimated it to be around 1,000 metric tons of uranium. Two more sources confirmed that the uranium was still at the airport at the time of the incident Wednesday night. Yellowcake, or uranium oxide concentrate, is a powdered form of uranium which can be processed to make fuel for nuclear power production. A reinforced security presence was visible on the main thoroughfares of the capital on Thursday, especially on the road leading toward the airport, the witness added. MORE THAN AN HOUR OF GUNFIRE HEARD, WITNESS SAYS The heavy gunfire began shortly before midnight on Wednesday and continued for over an hour, the Reuters witness said. A video shared on social media platform X appeared to show the city's night skyline illuminated by gunfire, though Reuters has not independently verified the footage. A spokesperson for Niger's military government, which seized power in a July 2023 coup, was not immediately available for comment. The West African nation, like its Sahel neighbours Mali and Burkina Faso, has struggled to contain attacks from jihadist groups linked to al Qaeda and Islamic State that have killed thousands and displaced millions in the three nations. An American missionary was kidnapped in Niamey in October, leading the United States to warn its citizens against travelling to the country. Five Indian citizens, a Swiss citizen and an Austrian citizen were kidnapped in more remote parts of the country last year. https://www.reuters.com/world/africa/sustained-gunfire-loud-blasts-heard-nigers-capital-2026-01-29/
2026-01-29 11:07
Fed holds rates steady, pausing easing cycle Fed fund futures suggest next cut could be June Investors waiting for Trump's nominee to replace Powell as chair NEW YORK, Jan 29 (Reuters) - Wall Street is anticipating a pause in the Federal Reserve's monetary easing cycle to last through the remainder of Chair Jerome Powell's term that ends in May, forcing investors to bank on further rate cuts later in the year to support bullish positioning. The Fed held rates steady on Wednesday at the end of its two-day policy meeting, pausing an easing cycle which has supported U.S. stocks. Interest rate futures priced in the next rate cut at the June meeting, which would be under the next Fed chair. Trump has repeatedly said he expects to announce his pick soon. Sign up here. "Our two cents is that the economy is doing okay, but inflation is a bit sticky, and the Fed was right to stand pat," said Tim Holland, chief investment officer at wealth management service provider Orion in Omaha, Nebraska. "We would be very surprised if we get another rate cut with Mr. Powell at the helm.” While investors anticipated the Fed to pause its easing cycle at the meeting, they are banking on the central bank maintaining a dovish posture with more cuts later in the year that can support equities and the economy. Markets are pricing in the next likely cut in June, but some investors say further easing could come sooner, while others say that inflation worries could prevent more cuts entirely this year. Investors noted the calm market reaction to Wednesday's decision, given that Fed meetings often result in wild swings for assets. The benchmark S&P 500 (.SPX) , opens new tab ended little changed on the day, after breaching the 7,000 level for the first time during the session. The U.S. dollar index largely held its daily gain following the meeting, as it rebounded from a four-year low. The benchmark 10-year Treasury yield moved modestly higher on the day to about 4.25%. "The market didn’t react much to this, largely because Powell has two more meetings," said David Seif, chief economist for developed markets at Nomura. "To the extent that Powell wants to give forward guidance, there's a clear expiration." MORE CUTS IN 2026? A weakening jobs picture had prompted the Fed -- which seeks to maintain stability in employment and inflation -- to lower rates last year to its current level of 3.50%-3.75%. The committee cut that rate by a quarter of a percentage point at its meetings in September, October, and December following a nine-month pause. On Wednesday, Powell said the job market has shown "some signs of stabilization," while inflation "remains somewhat elevated." "You would need for those dynamics to change in order for the Fed to cut rates again during Chairman Powell's term," said Michael Arone, chief investment strategist at State Street Investment Management. Fed funds futures suggested a less than 30% chance of a cut at either of the next two meetings in March and April, but a 65% chance of one in June, according to LSEG data late on Wednesday. Markets were still pricing in nearly two more quarter-point cuts by December. Still, Drew Matus, chief market strategist at MetLife Investment Management, said a cut could come in March, adding that "people are being maybe a little overly optimistic that the outlook is very clear." Matus said the current environment is a "good opportunity to be moving up in quality for assets," including shifting away from high-yield fixed income and other riskier strategies. NEXT CHAIR, NEXT CUT? Investors are trying to anticipate policy once Powell hands over the baton, including the extent to which the next leader will lean more dovish. Concerns over the Fed's ability to operate free of political interference ratcheted up after the revelation earlier this month that Powell faced a threatened criminal probe, with the Fed chief at the time calling it part of a push by Trump to pressure the central bank for rate cuts. Candidates to take the role include Fed Governor Christopher Waller, former Fed Governor Kevin Warsh and BlackRock's chief bond investment manager, Rick Rieder, and Trump economic adviser Kevin Hassett, although Trump has also said he preferred to keep Hassett in his current post. "We're starting to think about what Fed policy looks like under a new chair, especially now that I think we're really coalescing around a couple key candidates," said Michael Reynolds, vice president of investment strategy at Glenmede. Glenmede is overweight small-cap stocks, with the potential for one or two more rate cuts this year helping to "reinforce that thesis," Reynolds said. Trump on Tuesday said he will soon announce his Fed chair pick, and predicted interest rates would decline after the new chair takes over. Matthew Vegari, head of research at Clearwater Analytics, said he does not think that a rate cut decision would be solely at the new leader's discretion. "Would a more dovish Fed chair sway the other voting members? I'm not sure," Vegari said. "The chair can exert a lot of influence, but these are seasoned professionals at the top of their game." https://www.reuters.com/business/investors-bet-later-fed-cuts-support-markets-after-pause-2026-01-29/
2026-01-29 10:47
LONDON, Jan 29 (Reuters) - The Bank of England is considering expanding the range of assets that could be accepted as collateral in tokenised form, Sasha Mills, the central bank's Executive Director of Financial Market Infrastructure said on Thursday. The BoE last year consulted on plans to start permitting tokenised assets - blockchain-based versions of financial assets - as eligible collateral. Sign up here. “Some thought is needed on traditional assets that are not already acceptable as regulatory collateral, but which the industry would like to see tokenized and then used as collateral,” Mills said at City & Financial Global’s London Tokenisation Summit. Earlier this week, the European Central Bank confirmed that it would permit banks to use tokenised assets as collateral in Eurosystem credit operations from March 2026. The ECB also said it was looking at how assets that are currently ineligible in securities settlement systems could become eligible in a tokenised form. Despite significant industry hype, to date there are only a handful of live tokenisation projects and limited take-up by major banks and investors. Most pilots have remained in test environments and trading volumes are still negligible. Supporters say tokenisation and the technology behind it will cut costs and speed up settlement times. https://www.reuters.com/world/uk/boe-is-open-accepting-more-tokenised-assets-collateral-mills-says-2026-01-29/
2026-01-29 10:41
Jan 29 (Reuters) - The pound hovered near multi‑year highs against the dollar on Thursday, with U.S. policy uncertainty keeping the greenback on the back foot as markets looked ahead to next week’s Bank of England decision and to developments on the UK political front. The decision to keep Bank Rate unchanged this month may be less hotly debated given recent news of the strongest private sector since April 2024 alongside unexpectedly and further from the MPC's 2% target, according to economists polled by Reuters. Sign up here. The greenback edged down against a basket of currencies as uncertainty over U.S. economic policies and geopolitical moves weighed on sentiment. Sterling was roughly unchanged at $1.3802 , after hitting $1.36645 early this week, its highest since September 2021. Matthew Ryan, head of market strategy at global financial services firm Ebury, noted that in the last few days “domestic news in the UK, namely expectations for Bank of England rates and the brewing civil war within the Labour Party,” has been completely overshadowed by headlines elsewhere. British Labour Party politician Andy Burnham was on Sunday blocked from , with lawmakers on the left of the party accusing Prime Minister Keir Starmer and his allies of a political move to keep out a potential leadership rival. Labour is trailing in opinion polls to Nigel Farage's right-wing populist Reform UK ahead of bellwether local elections in May. The pound lost 0.05% against the euro to 86.60 pence. “UK politics may well take its toll on sterling again over the coming months,” said Chris Turner head of forex strategy at ING, mentioning a UK by-election on 26 February. There looks to be no upside for Starmer from a by-election in the pipeline in the Greater Manchester constituency of Gorton and Denton, as the Labour Party could lose a seat it won with a big majority in 2024. “Sterling is also vulnerable to any further bond market pressure emanating from Japan or the U.S. In short, we think sterling is near the top of multi-quarter ranges,” ING's Turner added. https://www.reuters.com/world/uk/sterling-close-multi-year-highs-vs-dollar-focus-shifts-boe-politics-2026-01-29/
