The Swiss franc weakened against other major currencies in the Asian session on Wednesday, as traders speculate that the central bank is likely to reduce its borrowing costs in the policy meeting due Thursday. The policy board of the Swiss National Bank (SNB) governed by Thomas J. Jordan is expected to lower the rate by...
The Asian Development Bank downgraded its growth outlook for developing Asia and cautioned that rapid shifts in US policies could dent economic growth and boost inflation. In the latest report released Wednesday, the ADB trimmed the growth forecast for developing Asia to 4.9 percent from 5.0 percent this year. Similarly, the projection for 2025 was...
Asian stocks turned in a mixed performance on Wednesday as traders awaited key U.S. CPI data due later in the day that could influence the Federal Reserves interest -rate decision next week. Currently, markets are pricing in an 85 percent chance of a quarter-point cut. Investors also braced for Chinas two-day Central Economic Work Conference...
The Indian rupee weakened against the U.S. dollar in the Asian session on Wednesday, as traders speculate that the Reserve Bank of India (RBI) is likely to intervene in the foreign exchange to limit the significant weakening of the rupee. Traders increased their bets on interest rate reduction after career bureaucrat Sanjay Malhotra was named...
German stocks held steady on Wednesday as investors braced for the release of U.S. inflation data and a European Central Bank policy meeting. The benchmark DAX was up 10 points at 20,340 after finishing marginally lower the previous day. Energy group Siemens Energy tumbled 3 percent after U.S. rival GE Vernova sounded cautious about the...
French stocks were subdued on Wednesday as traders awaited key U.S. CPI data due later in the day that could influence the Federal Reserves interest -rate decision next week. The report is expected to show U.S. consumer prices rose by 0.2 percent for the fifth straight month in November. The annual rate of consumer price...
U.K. stocks were moving lower on Wednesday as caution crept in ahead of key U.S. inflation data, due later in the day. The CPI report along with the release of producer price inflation figures on Thursday might impact the outlook for U.S. interest rates. The benchmark FTSE 100 dropped 0.2 percent to 8,266 after declining...
European stocks were little changed on Wednesday, after having snapped an eight-session losing streak the previous day as weaker-than-expected Chinese trade data signaled growing trade challenges. A cautious undertone prevailed as traders awaited key U.S. CPI data due later in the day that could influence the Federal Reserves interest -rate decision next week. Market participants...
Indian shares fluctuated in a narrow range before finishing marginally higher on Wednesday. A cautious undertone prevailed as traders closely monitored escalating violence in Syria and awaited key U.S. inflation readings this week that could influence the Feds rate trajectory. The benchmark S&P/BSE Sensex ended the session up 16.09 points, or 0.02 percent, at 81,526.14...
The latest report establishes that XRPL, Xahau, and Flare could be partnering for a decentralized bridge following years of deliberations. Axelar’s co-founder has also reported that $134 billion of XRP would soon be able to get yield everywhere through Axelar. According to the latest report, XRP Ledger (XRPL), Xahau, and Flare could be in line for...