The Philippine central bank unexpectedly lowered its benchmark rates for the first time in nearly four years and hinted at more easing amid well-anchored inflation expectations. The monetary board of the Bangko Sentral ng Pilipinas governed by Eli Remolona reduced the target reserve repurchase rate by 25 basis points to 6.25 percent. Markets were expecting...
The British pound strengthened slightly against other major currencies in the European session on Thursday, after the U.K. economy expanded again in the second quarter but the pace of growth moderated slightly due to the contractions in industrial and construction output. Data from the Office for National Statistics showed that the real gross domestic product...
Shares of Walmart, Inc. were gaining around 8 percent in the pre-market activity on the NYSE after the retail behemoth on Thursday issued third-quarter guidance, expecting growth, and also raised its fiscal 2025 forecast. Meanwhile, adjusted earnings forecast for the third quarter is below the market estimates, and for fiscal 2025 is in line or...
A report released by the Labor Department on Thursday showed an unexpected decline by first-time claims for U.S. unemployment benefits in the week ended August 10th. The Labor Department said initial jobless claims fell to 227,000, a decrease of 7,000 from the previous weeks revised level of to 234,000. Economists had expected jobless claims to...
European stocks are seen opening broadly higher on Wednesday amid inflation and rate cut optimism. After a measure of U.S. producer price inflation rose less than expected in July, investors now looked forward to the release of U.S. CPI data later in the day for further confirmation that the underlying inflation pulse in the worlds...
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...