Asian shares ended mixed in muted trading Friday as investors awaited Fed Chair Jerome Powells Jackson Hole speech later in the day for confirmation U.S. rate cuts would start in September. The dollar extended its recent sharp slide and Treasury yields eased while gold edged up slightly but was poised for a weekly loss. Crude...
The U.S. Food and Drug Administration approved and granted emergency use authorization or EUA for updated Covid vaccines from Pfizer Inc. and ModernaTX Inc. for use against currently circulating variants. The approval for the updated mRNA COVID-19 vaccines (2024-2025 formula) comes as the Covid cases are surging in the United States. The updated mRNA COVID-19...
German stocks rose modestly on Friday as investors awaited Fed Chair Jerome Powells Jackson Hole speech later in the day for confirmation U.S. rate cuts would start in September. With a recession looming large on the economy and inflationary pressures abating, markets currently expect the U.S. Federal Reserve to deliver three quarter-point rate cuts at...
European stocks traded slightly higher on Thursday as a survey showed Eurozone manufacturing PMI fell from 45.8 to an 8-month low of 45.6 in August, reinforcing investor bets on a September ECB rate cut. Overall business activity showed surprising strength in August as a strong rebound in the blocs dominant services industry offset a deeper...
The British pound strengthened against other major currencies in the European session on Thursday. The pound rose to more than a 1-year high of 1.3129 against the U.S. dollar, from an early low of 1.3081. Against the euro and the Swiss franc, the pound advanced to nearly a 3-week high of 0.8488 and a 2-day...
Policymakers at the European Central Bank were keen to explore the option of reducing interest rates in the monetary policy meeting in September as they turned wary of the mixed bag of recent economic data, minutes of the July 17-18 rate-setting session showed Thursday. The Governing Council, led by ECB President Christine Lagarde, left the...
After trending lower over the past several days, the value of the U.S. dollar has regained some ground during trading on Thursday. Currently, the U.S. dollar index is climbing 0.49 points or 0.5 percent to 101.53, bouncing off its lowest levels in nearly eight months. The greenback is trading at 146.5 yen versus the 145.21...
Indian shares may open on a positive note Thursday as oil prices continued to fall on demand concerns and minutes from the most recent Federal Reserve meeting hinted at potential rate cuts amid signs of easing inflation and a rising unemployment rate. Financial markets anticipate significant policy easing, potentially including multiple cuts by year-end. Benchmark...
Indian shares opened on a firm note Thursday as the July FOMC minutes as well as revised data showing a cooling labor market reinforced hopes of a 25-bps rata cut during the September meeting. The benchmark S&P/BSE Sensex was up 178 points, or 0.2 percent, at 81,083 in early trade, while the broader NSE Nifty...
Indian shares ended modestly higher on Thursday, giving up some early gains as investors awaited cues from U.S. PMI and initial jobless claims figures as well as Fed Chair Powells Friday speech at the Jackson Hole Symposium. Underlying sentiment remained supported by a continued fall in oil prices and dovish minutes from the Federal Reserve...