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US Federal Reserve

US Federal Reserve
Founded in 1913, the Federal Reserve is the central banking system for the United States.
Workers rebuild a home in Altadena, California, on Friday. The US construction sector lost 11,000 jobs in February. Photo: AFP
United States

US sheds 92,000 jobs in warning sign for Trump’s economy

Unemployment crept up, while job numbers showed a surprise reversal from growth in the previous month.

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Hong Kong stock market

Hong Kong stocks record steepest weekly slump in 4 months on US-Iran war

US, Israel war on Iran

Opinion | Are investors spooked by Iran violence? Market response suggests not

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Hong Kong economy

From oil spikes to power bills, how war on Iran will hit Hongkongers’ wallets

Residents may face higher energy and dining costs as analysts stress the city cannot remain immune to surging oil prices.

Analysts warn Hong Kong may feel the impact of rising oil prices amid the escalating conflict in the Middle East. Photo: Sam Tsang
Yuan

China’s yuan strengthens to near 3-year high as US dollar uncertainty grows

The offshore currency continues to appreciate, with official fixing also hitting its strongest level since May 2023.

Hong Kong budget 2026-27

Hong Kong budget 2026-27: should the coming blueprint boost yuan’s global push?

Experts say Hong Kong has ‘distinct advantages’ that can support the country’s financial development amid geopolitical uncertainties.

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Banking & finance

Opinion | Why the Fed credibility crisis will hit emerging markets harder

As confidence in US monetary stewardship falters, inflation risks rise and capital flows become more volatile. Emerging markets with fewer policy buffers will bear the brunt.

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US Federal Reserve chair Jerome Powell speaks during a press conference at the Federal Reserve Board Building in Washington on January 28. Photo: AFP
Cryptocurrency

‘Sentiment is bleak’: bitcoin declines amid geopolitical tensions

Bitcoin prices drop as much as 3.2 per cent to US$66,604 on Tuesday, before paring the decline.

Banking & finance

Can Hong Kong’s MPF members repeat record gains in Year of the Horse?

Volatility looms in the Year of the Horse, analysts forecast, after the Year of the Snake delivered estimated earnings of US$32 billion.

United States

US inflation cools more than expected, kindling hopes of Fed rate cut

The consumer price index rose 2.4 per cent year-on-year, the lowest level since May, though affordability concerns still weigh on households.

A shopper looks at vegetables in a grocery store in Schaumburg, Illinois, on Monday. Photo: AP
United States

US job market defies Trump policy fears with January growth

US job growth exceeded expectations in January, while unemployment dropped to 4.3 per cent, despite concerns over Trump’s policies.

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A pedestrian walks past a “Now Hiring” sign posted in front of a business in Los Angeles in August 2025. Photo: AFP
US-China relations

US seeks fair China competition, looks to realign Latin America ties

Scott Bessent says Washington wants to reduce security risks without decoupling from Beijing as it steps up engagement across Latin America.

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Banking & finance

Macroscope | Trump-Takaichi meddling in finance spells more turbulence ahead

The two leaders’ moves into economics despite their lack of knowledge threaten to further destabilise global finance and inflate debt levels.

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Donald Trump

Why gold still glitters in Asia despite volatility triggering ‘panic selling’

Investors are also looking to buy more silver despite the recent rush of funds towards the US dollar, analysts say.

The outlook for gold remains strong in Asia due to its reputation as a safe haven investment. Photo: Shutterstock
United States

Bitcoin drops, driving US$2 trillion slide in crypto market value

The world’s largest cryptocurrency fell to a low of US$66,675.12, its weakest since October 2024, a month before Trump won the US election.

Bitcoin tumbled below US$70,000 on Thursday as negative momentum deepened across cryptocurrencies. Photo: AFP
Bitcoin

Hong Kong crypto investors stay cautious but upbeat as bitcoin sell-off deepens

Bitcoin’s steep pullback has rattled global crypto markets, but in Hong Kong clearer rules on stablecoins are underpinning confidence.

Banking & finance

‘America First’ Fed? Why China economists doubt Trump’s pick can boost US dollar

Kevin Warsh unlikely to deliver long-term rebound while central bank independence still at risk, analysts say.

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Japan

Macroscope | Could Japan stop being the ballast of the bond market?

A lower house election victory would give flight to Prime Minister Takaichi’s fiscal expansionism – and introduce upheaval far beyond Japan.

Japan’s 10-year government bond yield, seen on a screen outside a brokerage in Tokyo on January 21, touched its highest in a century this month. Photo: Reuters
United States

Trump picks former Federal Reserve official Kevin Warsh to chair US central bank

The nomination comes as economic issues – from tariffs to affordability – dominate the policy agenda ahead of the November midterm elections.

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Central banks

Before Trump’s Fed pick, a new clear favourite emerges for chair

Betting markets show shiny odds for a former governor, with a prominent asset manager trailing a distant second as the announcement looms.

Commodities

Runaway gold: why even Wall Street can’t keep up with the metal’s record ascent

Some Chinese funds halt subscriptions as uncertainty fuels volatility in the metals market, while Hong Kong’s first gold exchange-traded fund surges on its debut.

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Gold’s current price represents a historic gain of more than 20 per cent in the first four weeks of the year. Photo: Shutterstock
Interest rates

HKMA warns of risks as Hong Kong follows Fed in keeping interest rate unchanged

Analysts see the first US rate cut in June, with a falling Hong Kong interbank rate set to bring relief to borrowers.

The Hong Kong Monetary Authority kept its base rate unchanged at 4 per cent on Thursday. Photo: Jonathan Wong
United States

US Federal Reserve holds interest rates steady, defying Trump pressure

The US president had been pushing for cuts at the central bank’s first policy gathering this year.

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United States

S&P 500 hits 7,000 for first time amid AI boom and rate cut hopes

AI and Big Tech earnings propel the surge, as rate cut expectations boost market confidence despite earlier jitters.

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Banking & finance

Trump says the US dollar can move like a yo-yo. Will Treasuries be left hanging?

With the US president levelling threats at enemies, allies and his own central bank, alternatives like gold and Chinese assets are gaining appeal.

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Illustration: Lau Ka-kuen
Commodities

Gold surge has analysts eyeing new highs after US$5,100 record

Safe-haven demand spikes amid de-dollarisation fears and supply-chain tensions, as gold buyers seek stability against growing macro uncertainties.

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Analysts expect the price of gold to continue climbing this year, building on a safe-haven surge. Photo: AFP
Hong Kong Monetary Authority (HKMA)

How lower US interest rates can help Hongkongers amid steady local prime rates

Most new mortgages, many corporate loans are based on interbank rates, which will continue to fall, monetary authority’s deputy chief says.

US-China trade war

At America’s biggest retail show, the China question never really goes away

Tariffs may ebb and supply chains may detour, but US shoppers – and giants like Walmart and Amazon – still rely heavily on Chinese goods.

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