After a weak start and a subsequent recovery, the Canadian market slipped into negative territory Tuesday morning, but recovered gradually to eventually end the day\'s session on a firm note, thanks to strong gains in energy, consumer staples and technology sectors. Concerns about the outlook for Fed interest rates rendered the mood a bit cautious...
Australia will on Wednesday release May figures for building approvals, highlighting a light day for Asia-Pacific economic activity. Approvals are expected to rise 1.5 percent on month and 27.3 percent on year after slipping 0.3 percent on month and jumping 27.3 percent on year in April. Australia also will see June results for the construction...
The South Korea stock market on Tuesday halted the two-day winning streak in which it had added more than 20 point or 0.7 percent. The KOSPI now rests just above the 2,780-point plateau although it\'s likely to bounce higher again on Wednesday. The global forecast for the Asian markets suggests little movement ahead of Friday\'s...
The services sector in Australia continued to expand in June, albeit at a slower pace, the latest survey from Jufo Bank revealed on Wednesday with a services PMI score of 51.2. That\'s down from 52.5 in May, although it remains above the boom-or-bust line of 50. New business also extended its run of growth to...
European stocks are seen opening on a tepid note Tuesday as a surge in oil prices on prospects for strength in summer demand revived worries about inflation and interest rates. French political and policy uncertainty may also weigh on markets ahead of a second-round vote on July 7. Meanwhile, there are expectations of Donald Trump...
The board of the Reserve Bank of Australia discussed the case for raising the cash rate at its June meeting citing slower-than-expected inflation but finally judged that the case to leave the rate unchanged was the stronger one, the minutes of the meeting showed Tuesday. At the June meeting, the board governed by Michele Bullock...
Asian stocks ended mixed on Tuesday as investors pondered what the U.S. Supreme Court\'s immunity decision meant for former president Donald Trump. The dollar gained traction and yields hit a one-month high after the Supreme Court ruled that presidents have absolute immunity from prosecution for core official acts. President Joe Biden said the high court\'s...
The U.S. dollar weakened against its major counterparts in the New York session on Tuesday, as Federal Reserve Chair Jerome Powell signalled progress on cooling in inflation. Speaking at the ECB Forum in Portugal, Powell said that policy makers want to understand whether recent weaker inflation readings indicate a true picture of underlying price pressures....
European stocks closed lower on Tuesday, weighed down by the developments on the political front in the region, comments from some ECB officials that the central bank is unlikely to cut interest rates anytime soon, and lingering uncertainty about the outlook for U.S. interest rates. Higher U.S. Treasury yields weighed as well on stocks. Bond...
Recent inflation data does suggest a disinflationary trend in the U.S. economy, but more evidence is needed before policymakers can cut interest rates, Federal Reserve Chair Jerome Powell said Tuesday. \"We just want to understand that the levels that we\'re seeing are a true reading of underlying inflation,\" Powell said in a speech at a...