News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Crude Prices Drop Ahead of OPEC Deal on Output Cuts

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Crude prices fell after a Saudi oil minister suggested that output cuts won't be extended by more than nine months in a meeting of oil major producers.

OPEC Agrees to Extend Crude Output Caps

OPEC renewed an agreement to withhold some crude-oil supplies into March 2018, doubling down on its bet that it can raise prices despite soaring output from U.S. shale producers.

Europe Shares Reverse Gains on OPEC News

European stocks reversed early gains as an update from major energy producers around an OPEC meeting prompted steep swings in oil prices.

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BIS Releases New Set of Standards for Currency Trading

A group of global standards-setters on Thursday completed a new set of principles for trading in the foreign-exchange market, capping a two-year effort to improve transparency after a series of collusion scandals at major banks.

Where the China Credit Crunch Could Really Bite

What Moody's didn't say this week is that China's sovereign bailout of troubled state companies is in fact already well under way, with a little help from provincial governments.

Beijing on the China-U.S. Trade Relationship: It's All Good

China's assessment of the trade relationship with the U.S.: The imbalance isn't that bad, job losses at U.S. steel mills aren't China's fault and Beijing's yuan interventions benefit the U.S.

Fed Should Be Judged On How Well It Achieves Mandates, Fed's Evans Says

Chicago Fed Chief Charles Evans said a conservative disposition among policy makers can make it hard to truly achieve a 'symmetric' inflation target, where price pressures above and below the target are equally unwelcome.

U.S. Dollar Finds Unusual Favor in Hong Kong

The U.S. dollar has been on something of a tear-against one currency where it ought to be quite stable.

BOJ to Continue Monetary Easing, Says Board Member Sakurai

Bank of Japan board member Makoto Sakurai said Thursday that the central bank will carry on with its easing program by keeping interest rates low and expanding its monetary base, dismissing speculation of tightening soon.

China Securities Regulator Punishes Three Domestic Brokerages

China's securities regulator punished three domestic brokerages for violating rules on margin trading with transactions on behalf of Chicago-based Citadel LLC.

(END) Dow Jones Newswires

May 25, 2017 07:15 ET (11:15 GMT)