Business sentiment in Germany fell to the weakest level since 2020 in December as firms were more skeptical about the economic outlook, survey results from the ifo Institute showed on Tuesday, amid the prospect of trade rifts with the U.S. and the uncertainty surrounding domestic economic policies. The ifo business climate index fell to 84.7...
The British pound strengthened against other major currencies in the European session on Tuesday, after the U.K. labor market data for the three months ending October showed robust wage growth, signaling that the Bank of England will hold off cutting interest rates on Thursday. Data from the Office for National Statistics showed that the unemployment...
The euro area trade surplus declined in October largely due to the rebound in imports, data from Eurostat showed on Tuesday. The trade surplus fell to EUR 6.8 billion in October from EUR 9.4 billion a year ago. This was also below Septembers level of EUR 11.6 billion. The fall in surplus reflects a reduction...
Economic sentiment in Germany unexpectedly rebounded in December to its highest level in four months as financial market experts turned optimistic on the announcement of snap elections in February next year and the prospect of more interest rate cuts from the European Central Bank, results of a survey by the think tank ZEW showed Tuesday....
Lower Canadian and U.S. futures, and weak commodity prices point to a negative start on Bay Street Tuesday morning. Canadian inflation data and U.S. retail sales data are in focus, and investors are also looking ahead to the Federal Reserves monetary policy meeting that gets underway today. Canadian inflation data for the month of November...
The UK wage growth accelerated more than expected in the three months to October supporting a case for more gradual interest rate reductions next year as pay increases could revive inflationary pressures. Excluding bonus, annual growth in average earnings came in at 5.2 percent compared to 4.9 percent in the three months to September, the...
Japans SoftBank Group is planning to invest $100 billion in the United States over the next four years, which would create more than 100,000 jobs in Artificial Intelligence or AI and related critical infrastructure. During President-elect Donald Trumps first news conference since the election, SoftBank founder and Chief Executive officer Masayoshi Son joined to make...
Retail sales in the U.S. increased by more than expected in the month of November, according to a report released by the Commerce Department on Tuesday, with auto sales once again leading the way higher. The report said retail sales grew by 0.7 percent in November after climbing by an upwardly revised 0.5 percent in...
The Federal Reserve released a report on Tuesday unexpectedly showing a modest decrease by U.S. industrial production in the month of November. The report said industrial production edged down by 0.1 percent in November after falling by a revised 0.4 percent in October. Economists had expected industrial production to rise by 0.3 percent compared to...
The U.S. Dollar firmed against most of its major counterparts on Tuesday after data showed a bigger than expected increase in retail sales in the month of November. Investors also looked ahead to the Federal Reserves monetary policy announcement, due on Wednesday. The Fed is widely expected to lower rates by another quarter point. The...