2025-02-17 10:24
KAMPALA, Feb 17 (Reuters) - The Ugandan shilling was stable on Monday, data from London Stock Exchange Group showed. At 1007 GMT the shilling was quoted at 3,675/3,685 to the U.S. dollar, the same level as at Friday's close. Sign up here. https://www.reuters.com/markets/currencies/ugandan-shilling-flat-lseg-data-shows-2025-02-17/
2025-02-17 10:09
LONDON, Feb 17 (Reuters) - Sterling held steady and traded at just below its highest level in two months, as investors looked towards employment and inflation data later in the week. The pound rose around 1.4% last week as currencies recovered against the dollar due to fading expectations that U.S. President Donald Trump will sharply ramp up tariffs in the early days of his administration. Stronger-than-expected growth data also lifted the UK currency. Sterling was last flat at $1.2591, after rising above $1.26 on Friday to its highest since mid-December. The euro was down 0.23% against the pound at 83.19 pence. Economic data will be key for the pound this week, after the Bank of England cut interest rates this month but said it remained cautious about price pressures. Analysts polled by Reuters expect data on Tuesday to show average earnings growth ticked up in December while unemployment rose to 4.5%, from 4.4% in November. Data on Wednesday is expected to show inflation increased to 2.8% year-on-year in January from 2.5% a month earlier. "Sterling's focus this week will be on jobs data, CPI and a speech from Bank of England Governor, Andrew Bailey, tomorrow morning," said Chris Turner, global head of markets at ING. "We continue to doubt that GBP/USD can sustain gains over $1.26 and expect it to be trading back at $1.24 by the end of March." Investors were also keeping an eye on developments around the war in Ukraine after Trump shocked European capitals by initiating talks about a potential peace with Russia's Vladimir Putin last week. British Prime Minister Keir Starmer this weekend became the first European leader to say he is ready to put peacekeeping troops in Ukraine. UK sovereign bond yields rose as prices fell on Monday, with investors betting any peace deal would require higher government spending and therefore more borrowing . Sign up here. https://www.reuters.com/markets/currencies/pound-trades-around-two-month-high-investors-await-data-2025-02-17/
2025-02-17 09:55
NEW DELHI, Feb 17 (Reuters) - India on Monday vowed to buy more industrial goods from the United States, days after Prime Minister Narendra Modi's U.S. visit, while data showed the South Asian country's merchandise trade deficit (INTRD=ECI) , opens new tab stood at $22.99 billion in January, in line with expectations. Economists had estimated the January trade deficit to be $22.35 billion, according to a Reuters poll. Merchandise exports in January stood at $36.43 billion compared with $38.01 billion in December 2024. The imports for the month were $59.42 billion, while they were at $59.95 billion the month prior. "Electronics goods (are) driving exports, followed by drugs, pharmaceuticals and rice," Trade Secretary Sunil Barthwal told reporters in New Delhi. Services exports in January were estimated at $38.55 billion and imports at $18.22 billion against $32.66 billion and $17.50 billion, respectively, in December. The monthly data comes after Modi's U.S. visit, when the two countries agreed to resolve issues over tariffs and the South Asian country promised to buy more U.S. oil, gas and military equipment. U.S. President Donald Trump said he will slap reciprocal tariffs on every country that taxes U.S. imports, including India, where the tariffs are one of the highest. Trump said he will charge India the same tariff as India does U.S. goods. The U.S. has a $45.6 billion trade deficit with India. Overall, the U.S. trade-weighted average tariff rate has been about 2.2%, according to World Trade Organization data, compared with India's 12%. New Delhi and Washington have agreed to a "tough" timeline to negotiate the first tranche of a trade deal between the two countries and will find ways to increase U.S. exports of industrial goods, Rajesh Agrawal, a senior Indian trade official said. India will aim to reduce tariff and seek reduction in certain sectors from the U.S. during the trade negotiations, the officials added. In January, India's gold imports fell to $2.68 billion from the previous month's $4.7 billion, while crude oil imports fell to $13.4 billion from $15.2 billion in December, data showed. In December, India's trade ministry scrambled to correct monthly import figures, including for precious metals such as gold from April to November, after uncovering an unprecedented miscalculation due to some double counting. Sign up here. https://www.reuters.com/world/india/indias-january-merchandise-trade-deficit-2299-bln-2025-02-17/
2025-02-17 09:43
Feb 17 (Reuters) - Standard Chartered Plc (STAN.L) , opens new tab, (2888.HK) , opens new tab said on Monday its Hong Kong banking division, Animoca Brands and HKT (6823.HK) , opens new tab will establish a joint venture to apply for a license from the Hong Kong Monetary Authority for issuance of a Hong Kong dollar-backed stablecoin. Standard Chartered said it has entered agreements with Animoca Brands, a company which specialises in Web3 for leveraging blockchains, and HKT, a major telecommunications service provider in Hong Kong, in order to "enable the JV to tap into crypto-native opportunities" and "enhance both domestic and cross-border payments", according to its statement. StanChart said it looks forward to becoming one of the first issuers launching an HKD-backed stablecoin with its strategic partners, according to Mary Huen, Chief Executive Officer of the bank's Hong Kong and Greater China & North Asia division. Sign up here. https://www.reuters.com/markets/asia/standard-chartered-hkt-animoca-form-jv-hk-dollar-backed-stablecoin-2025-02-17/
2025-02-17 09:33
MOSCOW, Feb 17 (Reuters) - The Russian rouble weakened slightly against the U.S. dollar on Monday ahead of Russia-U.S. talks scheduled to take place in Saudi Arabia's capital Riyadh on February 18. At 0915 GMT, the rouble was down 0.3% at 91.40 against the dollar, still the highest level for the Russian currency since September 2024, according to data from the over-the-counter market. It was also down 0.3% against China's yuan, the most traded foreign currency in Russia, in trade on the Moscow stock exchange. "The starting negotiations in Saudi Arabia may continue to fuel a positive news background, which will maintain the buying of the rouble by speculative capital," said PSB Bank's analyst Denis Popov. The Russian currency is up about 20% against the dollar this year, mostly on expectations of easing of geopolitical tensions between Russia and the West. Sign up here. https://www.reuters.com/markets/europe/russian-rouble-weakens-slightly-ahead-russia-us-talks-2025-02-17/
2025-02-17 09:28
WARSAW, Feb 17 (Reuters) - Microsoft (MSFT.O) , opens new tab plans to invest an additional 700 million dollars in Poland to improve Polish cybersecurity in cooperation with the country's armed forces, the company's president said on Monday without elaborating. In a joint press conference with Polish Prime Minister Donald Tusk, Microsoft President Smith said the investment would be for a second phase of the already completed $1 billion Polish data centre project announced in 2020. The data centre was opened in 2023, providing cloud services to businesses and government institutions. Sign up here. https://www.reuters.com/technology/microsoft-invest-700-mln-poland-says-polish-pm-2025-02-17/
