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Israel and Indonesia Consider Normalizing Relations Amid Strategic Opportunities

Israel and Indonesia Consider Normalizing Relations Amid Strategic Opportunities

Recent developments have increased the potential for Israel and Indonesia to normalize relations, despite historical challenges. Indonesia, the world's most populous Muslim country, has maintained a 'shadow relationship' with Israel, involving trade and defense ties through third-party hubs. The bilateral trade between the two nations reached $111.4 million in 2024, with estimates suggesting a higher volume when including indirect trade. Indonesia's President Prabowo Subianto has shown a shift in approach by recognizing Israel's right to security, which could pave the way for formal ties. The normalization could support Indonesia's 'Golden Indonesia 2045 Vision' and enhance cooperation in areas like cybersecurity, AI, and defense, leveraging Israel's technological expertise.

Dollar climbs to two-month peak as Fed hike bets ramp up

Dollar climbs to two-month peak as Fed hike bets ramp up

By Rae Wee SINGAPORE, June 8 (Reuters) - The dollar was perched near a two-month high on Monday after a blowout U.S. jobs report sent traders ramping up bets on a Federal Reserve rate hike this year, while the yen teetered further into the intervention zone.

Japan's economy cools on weak capex in Q1, revised data shows

Japan's economy cools on weak capex in Q1, revised data shows

By Satoshi Sugiyama TOKYO, June 8 (Reuters) - Japan's economy lost momentum in the January-March quarter from the previous three months over sluggish capital expenditure, revised gross domestic product (GDP) data showed on Monday, pointing to challenges ahead due to the Middle East conflict.

European leaders voice 'urgent need' to bolster Ukraine's defenses against ballistic missiles

European leaders voice 'urgent need' to bolster Ukraine's defenses against ballistic missiles

The leaders of the U.K., Ukraine, France and Germany discussed the “urgent need” to ramp up production of weapons to combat Russia’s powerful hypersonic Oreshnik ballistic missiles in a meeting in London on Sunday

Indonesia central bank, finance minister agree to boost asset yields to aid rupiah

Indonesia central bank, finance minister agree to boost asset yields to aid rupiah

JAKARTA, June 6 (Reuters) - Indonesia's central bank chief and finance minister on Saturday agreed to increase yields on Indonesian assets to attract portfolio inflows and support the rupiah, after the currency hit record lows in the past few weeks.

UK house prices fall unexpectedly as market feels Iran war impact

UK house prices fall unexpectedly as market feels Iran war impact

LONDON, June 5 (Reuters) - British house prices unexpectedly fell in May, according to data from mortgage lender Halifax on Friday, which represented the latest sign of a cooling in the market as higher borrowing costs and uncertainty caused by the Iran war weigh on demand.

UK firms plan smaller price rises than in April, BoE survey shows

UK firms plan smaller price rises than in April, BoE survey shows

By Suban Abdulla LONDON, June 5 (Reuters) - British businesses expect to increase prices less quickly in the year ahead than they did in April as some of the initial energy price shock caused by the Iran war fades, according to a survey published by the Bank of England on Friday.

Factbox-What issues do the US and Iran need to resolve for any peace deal?

Factbox-What issues do the US and Iran need to resolve for any peace deal?

LONDON, June 5 (Reuters) - Here are the main issues between the United States and Iran as they seek a deal to end their war, which is now in its fourth month: HORMUZ AND GULF BLOCKADE Iran's closure of the Strait of Hormuz, normally the conduit for around a fifth of global oil and liquefied natural

Yen pinned near intervention zone; dollar boosted by Gulf tensions

Yen pinned near intervention zone; dollar boosted by Gulf tensions

By Amanda Cooper LONDON, June 5 (Reuters) - The Japanese yen tested the 160-per-dollar barrier on Friday, drawing sharp official warnings, as the dollar held firm ahead of key U.S. employment data and Middle East tensions underpinned safe-haven demand.

Reuters poll: BoC expected to hold rates through 2026, look past temporary inflation pressures

Reuters poll: BoC expected to hold rates through 2026, look past temporary inflation pressures

By Nushaiba Iqbal BENGALURU, June 5 - The Bank of Canada will hold its key overnight rate at 2.25% on June 10 and for the rest of the year, according to a majority of economists polled by Reuters, despite rising inflation risks stemming from a conflict-driven rise in energy prices.

Bank of Canada Maintains Interest Rates Amid Inflation Concerns

Bank of Canada Maintains Interest Rates Amid Inflation Concerns

The Bank of Canada (BoC) is expected to maintain its key overnight rate at 2.25% through 2026, according to a Reuters poll of economists. Despite rising inflation risks due to a conflict-driven increase in energy prices, the BoC is likely to hold rates steady as economic activity remains sluggish. The Canadian economy, which recently entered a technical recession, showed robust job gains in May, providing some positive news. However, the persistent energy shock from the U.S.-Israeli conflict with Iran has pushed inflation to 2.8% in April, up from 2.4% in March. The BoC's decision to keep rates unchanged is supported by a decline in core inflation, indicating weak demand.

Morning Bid: Missing the mark

Morning Bid: Missing the mark

By Anna Szymanski June 5 (Reuters) - Everything Mike Dolan and the ROI team are excited to read, watch and listen to over the weekend. From the Editor Hello Morning Bid readers!