The U.S. dollar weakened against other major currencies in the Asian session on Wednesday, as traders await the release of key U.S. CPI data along with other reports on U.S. retail sales and homebuilder confidence which is likely to influence the U.S. Federal Reserve\'s near-term policy path. Economists expect U.S. consumer prices to climb by...
Asian stocks ended mixed on Wednesday, with Hong Kong and South Korean markets closed for Buddha\'s birthday. The U.S. dollar and bond yields dipped while gold edged up after Federal Reserve chairman Jerome Powell said on Tuesday that the central bank is unlikely to raise its key interest rate to tackle elevated inflation. After producer...
German stocks traded higher on Wednesday as investors cheered mostly positive earnings results and awaited key U.S. CPI data later in the day for additional clues on the Fed\'s rate trajectory. The benchmark DAX was up 93 points, or half a percent, at 18,809 after declining 0.1 percent in the previous session. In corporate news,...
French stocks were marginally higher in cautious trade on Wednesday after Federal Reserve chairman Jerome Powell said on Tuesday that the central bank is unlikely to raise its key interest rate to tackle elevated inflation. After producer price data for April surprised on the upside, traders looked ahead to key U.S. CPI data due later...
The Federal Reserve Bank of New York released a report on Wednesday showing regional manufacturing activity unexpectedly contracted at a slightly faster rate in the month of May. The New York Fed said its general business conditions index edged down to a negative 15.6 in May from a negative 14.3 in April, with a negative...
With higher mortgage rates weighing on sentiment, the National Association of Home Builders released a report on Wednesday showing an unexpected deterioration in U.S. homebuilder confidence in the month of May. The report said the NAHB/Wells Fargo Housing Market Index tumbled to 45 in May from 51 in April. Economists had expected the index to...
The Commerce Department released a report on Wednesday showing a modest decrease in business inventories in the U.S. in the month of March. The report said business inventories edged by 0.1 percent in March after climbing by 0.3 percent in February. The dip matched economist estimates. The slight decrease by business inventories came as wholesale...
The U.S. dollar weakened against its major counterparts in the New York session on Wednesday, as consumer inflation data and retail sales came in lower than expected in April, strengthening expectations that the Federal Reserve will reduce interest rate in September. Data from the Labor Department showed that the consumer price index increased by 0.3...
European stocks closed broadly higher on Wednesday after data showing less than expected rise in U.S. consumer prices in the month of April helped ease concerns about the outlook for interest rates. Investors also reacted positively to the latest batch of European economic data. Data from the Labor Department showed consumer prices in the U.S....
The Switzerland market ended on a strong note on Wednesday as stocks kept edging higher and higher after opening marginally up. Data showing a smaller than expected increase in U.S. consumer prices in the month of April helped ease concerns about interest rates, and rendered the mood positive. The benchmark SMI ended with a gain...