The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand (RBNZ) decided to cut its interest rate unexpectedly. The Monetary Policy Committee of the Reserve Bank of New Zealand, led by Governor Adrian Orr, decided to cut the Official Cash Rate by 25...
The Japanese yen weakened against other major currencies in the European session on Wednesday, as investors digested key Eurozone data and looked forward to the release of U.S. CPI data later in the day for additional clues on the interest-rate outlook. Eurostat reported that the euro area economy grew by 0.3 percent in the three...
A highly anticipated report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased in line with estimates in the month of July. The Labor Department said its consumer price index rose by 0.2 percent in July after edging down by 0.1 percent in June. The modest increase by consumer prices...
UK consumer price inflation rose less than expected in July as services price growth slowed to its lowest in over two years, strengthening the call for more interest rate cuts from the Bank of England. The consumer price index moved up 2.2 percent in July from a year ago, following Junes 2.0 percent increase, the...
A highly anticipated report released by the Labor Department on Wednesday showed consumer prices in the U.S. increased in line with estimates in the month of July. The Labor Department said its consumer price index rose by 0.2 percent in July after edging down by 0.1 percent in June. The modest increase by consumer prices...
European stocks closed higher on Wednesday, reacting positively to UK consumer price inflation data, and amid continued optimism about a sharp cut in U.S. interest rate in September. The pan European Stoxx 600 climbed 0.49%. The U.K.s FTSE 100 gained 0.56%, Germanys DAX ended 0.41% up, and Frances CAC 40 jumped 0.79%, while Switzerlands SMI...
The Canadian market opened marginally up on Tuesday, and then kept moving higher and higher as the session progressed, as data showing a smaller than expected increase in U.S. produced prices raised hopes of a 50-basis point interest rate cut by the Federal Reserve in September. The benchmark S&P/TSX Composite Index ended with a gain...
Indian shares eked out modest gains on Wednesday as investors awaited the release of U.S. CPI report due later in the day that could allow the Federal Reserve to begin cutting interest rates in September. Heightened geopolitical tension in the Middle East between Israel and Iran also rendered the underlying mood somewhat cautious. The benchmark...
Performance Food Group Co. (PFGC) announced Wednesday that it has entered into a definitive agreement with Cheney Bros., Inc., pursuant to which PFG will acquire Cheney Brothers for $2.1 billion in cash. Cheney Bros. is an independent broadline foodservice distributor based in Riviera Beach, Florida and owned by the Cheney family and Clayton Dubilier &...
Shares of Cardinal Health, Inc. were gaining more than 7 percent in the pre-market activity on the NYSE after the healthcare company on Wednesday raised its fiscal 2024 adjusted earnings forecast above the market after reporting a profit in its fourth quarter, compared to prior years loss. The improved results reflected strong revenues from both...