Author: Anthony Persuader
Financial Journalist with global coverage.
Fitch Affirms Ireland at ‘AA’ with Stable Outlook Reflecting its strong credit fundamentals, Fitch Ratings has affirmed Ireland’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘AA’ with a stable outlook. According to the rating note, the Ireland’s ratings are supported by strong institutions and the second-highest GDP per capita in the Fitch-rated sovereign universe, even when adjusted for the large impact of multinational enterprises (MNE) on national accounts data. Ireland’s credit profile also benefits from very favourable governance indicators and the reserve currency status of the euro, the rating note stated. Fitch stated that these strengths are balanced by high…
U.S. Supreme Court Asks Critical Questions about Trump’s Tariffs Justices of the U.S. Supreme Court, including conservative ones, have raised questions over the legality of the Donald Trump administration imposing sweeping tariffs. They argued on whether or not Trump has the authority to impose sweeping tariffs under a 1977 emergency law. The judges heard arguments from the administration and opponents of Trump’s actions in a session lasting more than two hours on Wednesday. It was unclear when a ruling would be handed down, but U.S. media reported it could take weeks to months. Chief Justice John Roberts, an appointee of…
Oil Prices Steady as U.S Crude Inventories Climb Oil prices steadied in the global commodity market on Thursday as US crude inventories climbed amidst OPEC+’s decision to hit pause on further production increases. International benchmark Brent crude was trading at $63.60 per barrel, up around 0.3% from the previous close of $63.43. US benchmark West Texas Intermediate (WTI) also increased by about 0.3% to $59.67, compared to $59.48 in the prior session. The eight members of the OPEC+ group, comprising Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman, agreed on Sunday to raise oil production by 137,000…
US Treasury to Offer $125bn Securities to Refund Privately Held Notes The U.S. Treasury has announced a decision to offer $125 billion of Treasury securities to refund approximately $98.2 billion of privately held Treasury notes maturing on November 15, 2025. According to the Treasury department, the issuance will raise new cash from private investors of approximately $26.8 billion through a 3-year note in the amount of $58 billion, maturing November 15, 2028. The securities offering includes a 10-year note in the amount of $42 billion, maturing November 15, 2035, and 30-year bond in the amount of $25 billion, maturing November…
Bitcoin, Ethereum Selloffs Drag Crypto Market Cap Down to $3.45T The global cryptocurrencies market capitalisation has seen a significant daily loss due to negative price movements recorded by top digital assets on Tuesday. With 3.5% price decline in the last 24 hours, Bitcoin faced further losses Tuesday as traders target price fell below $100,000 due to negative sentiment. With $421.4 billion market capitalisation, Ethereum is trading negative, down by about 6% in 24 hours to $3,496 while its trading volume reached $56.516 billion. Price at $2.26, XRP market capitalisation has declined by 6.22% in 24 hours of trading to $135.848…
UK Manufacturing Output Rises for First Time in One Year UK manufacturing output expanded for the first time in a year during October, as companies depleted backlogs of work, increased stocks and, in some cases, were boosted by a restarting of production at Jaguar and Land Rover following a recent cyberattack, S&P Global said in its October purchasing manager index report. According to the report, the seasonally adjusted S&P Global UK Manufacturing Purchasing Managers’ Index rose to a 12-month high of 49.7 in October, up from 46.2 in September. S&P said three of the PMI constituents (new orders, employment and…
Euro Slips Ahead of European Central Bank Rate Decision Euro declined versus the US dollar at the forex markets ahead of the European Central Bank (ECB) rate decision on Thursday. Trading data revealed that the US dollar is relatively firm following the Federal Reserve’s 25 basis point interest rate cut on Wednesday. The Dollar Index recovered from the slippage through the 20-day moving average yesterday (98.65) and set the session high near 98.95 in North American dealings. The euro fell below $1.16, its weakest level since mid-October, pressured by a stronger dollar after the Federal Reserve lowered the federal funds…
Fed Cuts Interest Rate By 25bps Amidst Longest U.S. Shutdown The United States (US) Federal Reserve (Fed) cut interest rates on Wednesday by 25 basis points, the second rate cut in 2025 amid the longest in history federal government shutdown. Following the October rate cut, the Fed funds rate printed at 3.75% to 4%. The Fed has been under immense pressure from Donald Trump to cut rates despite persistent inflation. In a statement, the Fed said that the unemployment rate had gone up but remains low. “Job gains have slowed,” the statement reads. “Inflation has moved up and remains somewhat…
Euro at Record High Against Trade-Weighted Currency Basket The euro remains close to 10-year highs in real effective terms as the expectation of no further rate cuts by the European Central Bank (ECB), a stable US dollar, and China’s price competitiveness gains translate into a high real effective exchange rate, Fitch Ratings says in its latest FX Market Monitor. In nominal effective terms, the euro was at an all-time high in September on the BIS effective exchange-rate measure. The euro has appreciated by about 13% against the dollar since the end of 2024, but Fitch analysts do not expect a…
Crude Oil Prices Increase Ahead of Trump, Xi Meeting Prices of crude oil increased on Wednesday with a new wave of Israeli strikes on central Gaza and trade deal hopes between the US and China, while US sanctions targeting Russia’s two largest oil companies and the Organization of the Petroleum Exporting Countries’ (OPEC) output plans limited gains. Brent crude was trading at $63.93 per barrel, up 0.15% from the previous close of $63.83. US benchmark West Texas Intermediate (WTI) also rose by 0.04% to $60.27, compared to $60.24 in the prior session. The conflict in Gaza continues to weigh on…