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Fri, Apr 26, 2024 08:59BoJ Keeps Key Interest Rate Near Zero
The Bank of Japan left its key interest rate unchanged near zero and the bank's latest projections showed the underlying inflation staying around 2 percent that further damped expectations for aggressive tightening in future. The BoJ policy board, headed by Governor Kazuo Ueda, unanimously decided to hold the overnight interest rate at around 0 to 0.1 percent.
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Fri, Apr 26, 2024 08:55UK Consumer Confidence Strengthens In April
British consumer sentiment improved in April on slowing inflation as well as expectations about further tax cuts, a monthly survey conducted by the market research group GfK revealed Friday. The consumer confidence index rose to -19 in April from -21 in March. The score was also better than economists' forecast of -20.
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Fri, Apr 26, 2024 07:23Yen Slides After BoJ Keeps Key Rate Unchanged
The Japanese yen weakened against other major currencies in the Asian session on Friday after the Bank of Japan left its key interest rate unchanged and raised its inflation outlook.
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Fri, Apr 26, 2024 04:03European Economic News Preview: Eurozone Monetary Aggregates Data Due
Monetary developments from the euro area and consumer confidence from France are due on Friday, headlining a light day for the European economic news. At 2.00 am ET, retail sales and household consumption from Norway and foreign trade data from Sweden are due.
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Thu, Apr 25, 2024 14:37U.S. Pending Home Sales Surge 3.4% In March, Much More Than Expected
Pending home sales in the U.S. surged by much more than expected in the month of March, according to a report released by the National Association of Realtors on Thursday. NAR said its pending home sales index spiked by 3.4 percent to 78.2 in March after jumping by 1.6 percent to 75.6 in February. Economists had expected pending home sales to rise by just 0.3 percent.
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Thu, Apr 25, 2024 13:49U.S. Economic Growth Slows Much More Than Expected In Q1
A report released by the Commerce Department on Thursday showed the U.S. economy grew by much less than expected in the first quarter of 2024. The Commerce Department said gross domestic product increased by 1.6 percent in the first quarter after surging by 3.4 percent in the fourth quarter of 2023. Economists had expected GDP to jump by 2.5 percent.
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Thu, Apr 25, 2024 13:08U.S. Weekly Jobless Claims Unexpectedly Dip To Two-Month Low
The Labor Department released a report on Thursday showing an unexpected decrease by first-time claims for U.S. unemployment benefits in the week ended April 20th. The report said initial jobless claims fell to 207,000, a decrease of 5,000 from the previous week's unrevised level of 212,000. The dip surprised economists, who had expected jobless claims to inch up to 214,000.
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Thu, Apr 25, 2024 12:35German Consumer Sentiment To Hit 2-Year High In May
Germany's consumer confidence is set to rise again in May to hit a two-year high as households turned more optimistic about future income, adding to the list of positive indicators that suggests the biggest euro area economy is likely to undergo a very shallow recession. The forward-looking consumer sentiment index rose to -24.2 in May from a revised value of -27.3 in April.
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Thu, Apr 25, 2024 05:33European Economic News Preview: German Consumer Confidence Data Due
Consumer sentiment survey data from Germany is the top economic news due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the market research group GfK is slated to issue Germany's consumer confidence survey results. The sentiment index is forecast to rise to -25.9 in May from -27.4 in April.
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Wed, Apr 24, 2024 23:48South Korea Q1 GDP Climbs 1.3%
South Korea's gross domestic product was up a seasonally adjusted 1.3 percent on quarter in the first three months of 2024, the Bank of Korea said on Thursday.
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Wed, Apr 24, 2024 21:08Dollar Turns In Mixed Performance Ahead Of GDP, PCE Data
The U.S. dollar stayed fairly steady on Wednesday, scoring gains against some of its major counterparts, and drifting down a bit against some, as traders digested U.S. durable goods orders data, and awaited Q1 GDP data and a report on personal income and spending that includes readings on inflation said to be preferred by the Fed.
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Wed, Apr 24, 2024 13:58U.S. Durable Goods Orders Surge 2.6% In March, More Than Expected
With orders for transportation equipment showing a substantial increase, the Commerce Department released a report on Wednesday showing new orders for U.S. manufactured durable goods surged by more than expected in the month of March. The report said durable goods orders soared by 2.6 percent in March after climbing by a downwardly revised 0.7 percent in February.
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Wed, Apr 24, 2024 12:50German Ifo Business Confidence Near 1-Year High
Germany's business sentiment strengthened for the third straight month to a near one-year high in April on a notable improvement in confidence among service providers. The business confidence index climbed to 89.4 in April from a revised 87.9 in March, monthly survey results from the ifo Institute showed on Wednesday. This was the highest score since May 2023, when the reading was 91.4.
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Wed, Apr 24, 2024 11:50Indonesia Central Bank Unexpectedly Hikes Rate
Indonesia's central bank surprised markets on Wednesday with an unexpected quarter-point rate hike to strengthen the rupiah. The Board of Governors of Bank Indonesia, governed by Perry Warjiyo, decided to lift the seven-day reverse repo rate to 6.25 percent from 6.00 percent. The current rate is the highest since 2016, when the bank made the seven-day reverse repo as its main policy rate.
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Wed, Apr 24, 2024 05:46European Economic News Preview: Germany Ifo Business Confidence Data Due
Business sentiment survey data from Germany is the major report due on Wednesday, headlining a light day for the European economic news. At 4.00 am ET, the ifo Institute is scheduled to issue Germany's business confidence survey results. The business sentiment index is expected to climb to 88.9 in April from 87.8 in March.
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Tue, Apr 23, 2024 21:05Dollar Drifts Lower Against Major Counterparts After Weak Economic Data
The U.S. dollar traded weak on Tuesday, weighed down by data showing a slowdown in the nation's manufacturing activity, and on the Euro's strength after data showed a notable expansion in Eurozone manufacturing and services sector activity.
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Tue, Apr 23, 2024 14:35U.S. New Home Sales Surge Much More Than Expected In March
A report released by the Commerce Department on Tuesday showed a substantial increase in new home sales in the U.S. in the month of March. The Commerce Department said new home sales spiked by 8.8 percent to an annual rate of 693,000 in March after plunging by 5.1 percent to a revised rate of 637,000 in February.
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Tue, Apr 23, 2024 12:39Eurozone Private Sector Growth Strongest In Almost A Year
The euro area private sector expanded the most in nearly a year in April as the continuing downturn in the manufacturing activity was offset the strength in the service sector, flash survey results from S&P Global showed on Tuesday. The composite output index registered 51.4 in April, up from 50.3 in March. The reading stayed above economists' forecast of 50.8.
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Tue, Apr 23, 2024 10:33UK Private Sector Activity Expands Most In 11 Months
The UK private sector economy grew at the quickest pace in nearly a year in April amid a robust growth in service sector output, flash survey results from S&P Global showed on Tuesday. The composite output index rose to 54.0 in April from 52.8 in March. A reading above 50.0 indicates expansion in the private sector.
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Tue, Apr 23, 2024 05:47European Economic News Preview: Eurozone Flash PMI Data Due
Flash Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK public sector finance data. The budget deficit is forecast to widen to GBP 8.9 billion in March from GBP 7.48 billion in February.
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Mon, Apr 22, 2024 21:16Dollar Turns In Mixed Performance Against Major Rivals Ahead Of Key Economic Data
The U.S. dollar turned in a mixed performance against its major counterparts on Monday as traders looked ahead to a slew of crucial U.S. economic data for more clarity about the outlook for interest rates.
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Mon, Apr 22, 2024 12:28Swiss Central Bank Lifts Minimum Reserve Requirement
The Swiss National Bank raised the minimum reserve requirement for domestic banks, which is set to reduce its payout. The SNB lifted the minimum reserve ratio to 4 percent from 2.5 percent. The bank also made changes to how it calculates the minimum reserve requirements.
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Mon, Apr 22, 2024 07:27China Keeps Lending Rates Unchanged As Expected
China maintained its benchmark lending rates unchanged as expected after the economy showed signs of improvement at the start of the year. At a monthly fixing on Monday, the People's Bank of China kept the one-year loan prime rate at 3.45 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.95 percent.
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Fri, Apr 19, 2024 20:47Dollar Turns In Mixed Performance Against Major Counterparts
After trading weak in the Asian and European sessions, the U.S. dollar slipped a bit deeper in the New York session on Friday, and despite rebounding as the session progressed, struggled to move any significantly above the flat line.
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Fri, Apr 19, 2024 08:52UK Retail Sales Stable In March
UK retail sales were unchanged on a month-on-month basis in March, defying expectations for a gain, preliminary data from the Office for National Statistics showed Friday. Retail sales including automotive fuel grew 0.1 percent in the previous month. Economists were looking for a 0.3 percent gain for March.