The yen continued to drift lower against the dollar on Tuesday as gaping interest rate differentials weighed on the currency, despite fresh warnings from Japanese officials following two rounds of suspected dollar-selling intervention last week.
China’s services sector grew at a steady pace in April as expected, a private survey showed on Monday, as new business activity grew and as export demand also improved from last year’s lows.
Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.
U.S. job growth slowed more than expected in April and the increase in annual wages fell below 4.0% for the first time in nearly three years, but it is probably too early to expect that the Federal Reserve will start cutting interest rates before September as the labor market remains fairly tight.
Most Asian stocks rose on Monday, tracking strength in Wall Street as weak payrolls data sparked a resurgence in rate cut expectations, while Chinese markets returned from a long weekend with standout gains.
Oil prices rose in Asian trade on Monday after clocking their worst weekly decline in seven months, amid growing signs that the latest ceasefire talks between Israel and Hamas had yielded little progress.