Malaysias economic growth accelerated more than initially estimated in the second quarter on household consumption and investment. Gross domestic product registered an annual growth of 5.9 percent in the second quarter after rising 4.2 percent in the previous quarter, revised estimate from the Department of Statistics showed on Friday. This was the strongest growth since...
The New Zealand dollar strengthened against other major currencies in the Asian session on Friday amid risk appetite, as stronger than expected U.S. retail sales and weekly jobless claims data helped ease concerns about a recession in the worlds largest economy. However, this is expected to prompt the U.S. Fed to go for a lower...
UK retail sales volume rebounded in July as summer discounting and the European football Championship boosted department stores and sports equipment stores sales. Retail sales increased 0.5 percent on a monthly basis in July, following a revised 0.9 percent fall in June, the Office for National Statistics said Friday. Economists had forecast sales to grow...
The British pound strengthened against other major currencies in the European session on Friday, after data showed that U.K. retail sales volume rebounded in July as summer discounting and the European football Championship boosted department stores and sports equipment stores sales. Markets speculate that the strong U.K. retail sales data is likely to diminish the...
Asian stocks advanced on Friday as encouraging U.S. data on inflation and retail sales allayed recession fears in the worlds largest economy but prompted traders to push back expectations for aggressive rate cuts by the Federal Reserve. The dollar and U.S. Treasury yields held broadly steady in Asian trade on growing optimism that the U.S....
German stocks rose on Friday to extend gains from the previous session as fears of a U.S. recession eased and optimism prevailed that the Federal Reserve would lower interest rates by at least 25-basis at next months upcoming policy meeting. The benchmark DAX was up half a percent at 18,275 after rallying 1.7 percent the...
The Canadian dollar weakened against its major counterparts in the New York session on Friday, as oil edged lower on China demand concerns. Oil prices came under pressure due to concerns about a slowdown in Chinese growth and expectations of a ceasefire deal for the Gaza war and related violence in the Middle East. Data...
European stocks closed on a firm note on Friday, with many of the markets recovering after having dropped to multi-month lows in recent sessions. Fairly encouraging economic data from the U.S., and some good earnings updates from European companies helped underpin sentiment in the markets. The pan European Stoxx 600 climbed 0.83%. The U.K.\'s FTSE...
The Switzerland market started off on a weak note Friday morning, but recovered swiftly and then kept moving higher and higher as the day progressed to eventually close on a strong note. Rising hopes of an interest rate cut by the Federal Reserve in September, and some fairly encouraging earnings updates aided sentiment. The benchmark...
The U.S. dollar edged lower on Friday amid rising prospects of an interest rate cut by the Federal Reserve in September after the latest readings on the nation\'s inflation. In economic news, a report from the Commerce Department said its personal consumption expenditures (PCE) price index inched up by 0.1% in June after coming in...