Market News

    Oil futures open higher on IEA supply warning

    March 17 - Oil futures rose in early trading on Thursday, recovering some of the prior day's losses, after the International Energy Agency (IEA) said a decline in oil demand due to higher prices would not offset a shut-in of Russian oil supplies.

    Yen left behind as Fed begins hiking

    SINGAPORE, March 17 (Reuters) - The yen was pinned to a six-year low on the dollar and struggled against crosses on Thursday, as a rate hike with a hawkish outlook from the U.S. Federal Reserve underscored just how far the Bank of Japan is likely to lag worldwide policy tightening.

    Fed hikes interest rates, signals aggressive fight to curb inflation

    WASHINGTON, March 16 (Reuters) - The Federal Reserve on Wednesday raised interest rates for the first time since 2018 and laid out an aggressive plan to push borrowing costs to restrictive levels next year in a pivot from battling the coronavirus pandemic to countering the economic risks posed by excessive inflation and the war in Ukraine.