The Thai stock market has moved lower in back-to-back sessions, surrendering almost 10 points or 0.8 percent along the way. The Stock Exchange of Thailand now sits just above the 1,440-point plateau and its expected to open under pressure again on Monday. The global forecast for the Asian markets is soft on concerns over the...
The U.S. dollar climbed to a new 52-week high on Thursday with the latest set of economic data reducing the prospects of aggressive rate cuts by the Federal Reserve. Hawkish comments from Fed Chair Jerome Powell contributed as well to the dollars rise. In economic news today, data from the Labor Department said initial jobless...
The Japanese yen weakened against other major currencies in the Asian session on Friday, as weak GDP data dampened expectations for more rate hikes by the Bank of Japan. Data from the Cabinet Office showed that the Japans gross domestic product expanded by a seasonally adjusted 0.2 percent on quarter in the third quarter of...
In a blow to Chancellor Rachel Reeves, the UK economy grew only marginally in the third quarter on weak services output, data from the Office for National Statistics revealed Friday. Gross domestic product grew 0.1 percent sequentially, following growth of 0.5 percent in the second quarter and was also weaker than the forecast of 0.2...
Asian stocks turned in a mixed performance on Friday as Federal Reserve Chair Jerome Powells remarks poured cold water on rate cut optimism and mixed economic data highlighted Chinas uneven economic recovery. Gold hovered near $2,560 per ounce in Asian trade as the dollar consolidated weekly gains ahead of the release of U.S. retail sales...
The Canadian dollar weakened against other major currencies in the European session on Friday. The Canadian dollar fell to a 4-1/2-year low of 1.4070 against the U.S. dollar, from an early high of 1.4052. Against the euro and the yen, the loonie slid to 2-day lows of 1.4848 and 110.73 from early highs of 1.4804...
China industrial production growth slowed unexpectedly in October and the decline in property investment deepened but retail sales growth accelerated as recent stimulus measures strengthened consumer sentiment. Industrial production posted an annual growth of 5.3 percent in October after rising 5.4 percent in September, the National Bureau of Statistics said Friday. The slowdown in growth...
German stocks were notably lower on Friday after Federal Reserve Chairman Jerome Powell damped market expectations of quick interest rate cuts. Investors shrugged off some positive data on the domestic front, which showed Germanys wholesale prices continued to decline in October, though at a slower pace. Destatis reported that German wholesale prices decreased 0.8 percent...
The Canadian dollar weakened against other major currencies in the European session on Friday, as crude oil prices declined amid worries about oversupply by growing U.S. crude stocks. Data from the Energy Information Administration (EIA) showed crude oil inventories in the U.S. climbed by 2.1 million barrels last week, matching the increase seen in the...
French stocks traded lower on Friday after Federal Reserve Chair Jerome Powell signalled a cautious approach on rate cuts, given persistent inflationary pressures. Powell said the U.S. central bank does not need to rush to lower interest rates and can approach decisions carefully. The benchmark CAC 40 was down 30 points, or 0.4 percent, at...