The U.S. dollar drifted lower on Friday, extending weakness from the previous session, amid bets the Federal Reserve might announce a larger interest-rate cut nex week, and also deliver a few more reductions in the coming months. In economic news today, the University of Michigan said its consumer sentiment index rose to 69.0 in September...
Food prices in New Zealand were up 0.4 percent on year in August, Statistics New Zealand said on Thursday, slowing from 0.6% in July. Higher prices for restaurant meals and ready-to-eat food and grocery food drove the annual increase in food prices, up 3.6 percent and 2.4 percent, respectively. The price increase in restaurant meals...
The Swiss franc weakened against most major currencies in the Asian session on Thursday. The Swiss franc rose to more than a 3-week low of 0.8549 against the U.S. dollar, from yesterdays closing value of 0.8520. Against the euro and the pound, the franc advanced to an 8-day low of 0.9417 and a 6-day low...
German stocks traded higher on Thursday amid expectations the European Central Bank (ECB) will deliver a quarter-point rate cut later today, a move that would mark its second reduction to the deposit rate this year. Meanwhile, Germanys wholesale prices declined at a faster pace in August on lower petroleum product prices, data from Destatis revealed....
French stocks advanced on Thursday ahead of a European Central Bank (ECB) policy meeting later in the day. In a prelude to an expected Fed move next week, the ECB is expected to cut its baseline interest rate from 4.25 percent to 4 percent due to falling inflation and sluggish growth. Markets will focus more...
U.K. stocks traded higher on Thursday after the Bank of England relaxed a proposed overhaul of the banking system. The implementation of the new bank capital rules has been delayed until 2026, six months later than the central bank said previously. The benchmark FTSE 100 was up 70 points, or 0.9 percent, at 8,264 after...
European stocks traded higher on Thursday ahead of a European Central Bank policy meeting later in the day. The central bank is widely expected to cut its key interest rates by 25 basis points amid falling inflation and economic indicators signaling a weaker outlook. ECB staff macroeconomic projections and ECB Chief Christine Lagardes press conference...
The UK housing market conditions strengthened in August as the recent decrease in mortgage interest rates spurred demand and sales activity, the latest survey from the Royal Institution of Chartered Surveyors showed on Thursday. The number of people looking to buy homes increased in August, with the balance rising to 15 from 4 in July....
The Canadian dollar dropped against its major counterparts in the New York session on Thursday. The loonie touched 0.9106 against the aussie, setting a 6-day low. The loonie fell to 1.5019 against the euro, 1.3604 against the greenback and 104.37 against the yen, from an early 9-day high of 1.4936 and 2-day highs of 1.3565...
European stocks closed higher on Thursday with investors reacting positively to the European Central Banks monetary policy statement, and U.S. producer price inflation data. The ECB reduced its key interest rates by 25 basis points, as expected, as the euro area growth is expected to slow on weaker demand and core inflationary pressures remain high,...