• Fri, Jul 19, 2024 20:55
    Dollar Rises Against Major Counterparts On Safe-haven Appeal

    The U.S. dollar gained some ground on Friday on safe-haven appeal as risk sentiment waned amid deepening Sino-U.S. trade tensions, uncertainty about the outcome of the upcoming U.S. presidential election, and rising concerns about the outlook for China's growth.

  • Fri, Jul 19, 2024 12:54
    Malaysia Economy Expands At Fastest Pace Since Late 2022

    Malaysia's economy posted its fastest growth in six quarters with strong support from services and manufacturing sectors, official data revealed Friday. Gross domestic product registered an annual growth of 5.8 percent in the second quarter after rising 4.2 percent in the previous quarter, advance estimate from the Department of Statistics revealed on Friday.

  • Fri, Jul 19, 2024 10:26
    UK Government Borrowings Overshoot Estimate

    The bigger-than-expected UK public sector net borrowing in June highlights the challenges faced by the new government. Public sector net borrowing decreased GBP 3.2 billion from the last year to GBP 14.5 billion in June, marking the lowest June borrowing since 2019. However, the latest figure was GBP 2.9 billion higher than the GBP 11.6 billion forecast by the OBR.

  • Fri, Jul 19, 2024 07:20
    UK Retail Sales Fall In June

    Despite an improvement in consumer sentiment, UK retail sales logged a notable decline in June amid election uncertainty and poor weather, data showed Friday. Retail sales decreased 1.2 percent month-on-month in June, in contrast to the 2.9 percent increase posted in May, the Office for National Statistics said. Sales were expected to log a moderate 0.4 percent fall.

  • Fri, Jul 19, 2024 05:06
    Japan Core Inflation Rises In June

    Japan's core inflation rose for the second straight month in June, keeping alive hopes of another interest rate hike. Core inflation that excludes fresh food edged up to 2.6 percent in June from 2.5 percent in May. However, this was slightly below economists' forecast of 2.7 percent, the Ministry of Internal Affairs and Communications said.

  • Fri, Jul 19, 2024 04:42
    European Economic News Preview: UK Public Sector Finance, Retail Sales Data Due

    Public sector finance and retail sales reports from the UK and current account from the euro area are due on Friday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK public sector net borrowing and retail sales figures.

  • Thu, Jul 18, 2024 21:03
    Dollar Rises Against Major Currencies

    The U.S. dollar firmed against its major counterparts on Thursday as bond yields moved up, and the Euro fell after the European Central Bank left its key interest rates unchanged.

  • Thu, Jul 18, 2024 14:22
    U.S. Leading Economic Index Dips Slightly Less Than Expected In June

    The Conference Board released a report on Thursday showing a modest decrease by its reading on leading U.S. economic indicators in the month of June. The report said the leading economic index edged down by 0.2 percent in June after falling by a revised 0.4 percent in May. Economists had expected the leading economic index to dip by 0.3 percent.

  • Thu, Jul 18, 2024 13:49
    Philly Fed Index Indicates Notable Reacceleration In Growth In July

    After reporting a slowdown in the pace of regional manufacturing growth in the previous month, the Federal Reserve Bank of Philadelphia released a report on Thursday showing the pace of growth reaccelerated by much more than expected in the month of July. The Philly Fed said its diffusion index for current general activity jumped to 13.9 in July from 1.3 in June.

  • Thu, Jul 18, 2024 13:49
    Philly Fed Index Indicates More Widespread Growth In July

    The Federal Reserve Bank of Philadelphia released a report on Thursday showing growth by regional manufacturing was more widespread in the month of July. The Philly Fed said its diffusion index for current general activity jumped to 13.9 in July from 1.3 in June.

  • Thu, Jul 18, 2024 13:33
    U.S. Jobless Claims Climb More Than Expected To 243,000

    A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits climbed by much more than expected in the week ended July 13th. The Labor Department said initial jobless claims rose to 243,000, an increase of 20,000 from the previous week's revised level of 223,000. Economists had expected initial jobless claims to edge up to 230,000.

  • Thu, Jul 18, 2024 13:12
    German Building Permits Post Sharp Decline In May

    Germany's building permits posted another sharp decline in May, reflecting the ongoing weakness in the construction sector, data from Destatis showed on Thursday. The number of permits for construction of apartments shrank 24.2 percent in May from the last year, which was worse than the 17.0 percent decrease posted in April.

  • Thu, Jul 18, 2024 13:11
    ECB Pauses Rates Ahead Of Likely September Cut

    The European Central Bank left its key interest rates unchanged on Thursday, as expected, after lowering them for the first time in five years in the previous session, as policymakers head into a summer break ahead of a possible rate reduction in September even as they worry about the sticky inflation.

  • Thu, Jul 18, 2024 08:58
    UK Labor Market Cools In May

    UK wage growth softened in the three months to May period suggesting that the labor market cooled further and revived hopes of interest rate cuts. The unemployment rate came in at 4.4 percent in March to May period, unchanged from the preceding three months, the Office for National Statistics said Thursday. The figure matched economists' forecast.

  • Thu, Jul 18, 2024 06:19
    Australia Jobless Rate Rises Slightly In June

    Australia's unemployment rate rose slightly despite a sharp increase in employment, data from the Australian Bureau of Statistics showed on Thursday.

    The jobless rate rose slightly to a seasonally adjusted 4.1 percent in June, while it was expected to remain unchanged at 4.0 percent. Employment increased by 50,200 in June, much bigger than economists' forecast of 20,000.

  • Thu, Jul 18, 2024 05:41
    European Economic News Preview: ECB To Keep Rates On Hold

    The monetary policy announcement from the European Central Bank is the top economic event due on Thursday. Markets expect the ECB to keep its key rates on hold today after cutting the rates for the first time in five years in June. The main refinancing rate was lowered by 25 basis points to 4.25 percent.

  • Wed, Jul 17, 2024 21:15
    Dollar Weakens Against Major Rivals On Rate Cut Hopes

    The U.S. dollar fell against most of its major counterparts on Wednesday amid continued optimism about an interest rate cut by the Federal Reserve in its September meeting.

  • Wed, Jul 17, 2024 14:16
    Mortgage Applications Rise For First Time In 4 Weeks

    U.S. mortgage applications increased in the week ending July 12, after declining in the past three weeks, the weekly survey results from the Mortgage Bankers Association showed Wednesday. Mortgage applications rose 3.9 percent from the previous week, when they fell 0.2 percent, the MBA said.

  • Wed, Jul 17, 2024 14:01
    U.S. Industrial Production Climbs More Than Expected In June

    A report released by the Federal Reserve on Wednesday showed industrial production in the U.S. increased by more than expected in the month of June. The Fed said industrial production climbed by 0.6 percent in June after jumping by 0.9 percent in May. Economists had expected industrial production to rise by 0.3 percent.

  • Wed, Jul 17, 2024 13:43
    U.S. Housing Starts, Building Permits Rebound Significantly In June

    The Commerce Department released a report on Wednesday showing a significant rebound by new residential construction in the U.S. in the month of June. The report said housing starts shot up by 3.0 percent to an annual rate of 1.353 million in June after plunging by 4.6 percent to a revised rate of 1.314 million in May.

  • Wed, Jul 17, 2024 10:34
    Indonesia Keeps Key Interest Rate Unchanged

    Indonesia's central bank kept its benchmark interest rate unchanged, as widely expected, on Wednesday. The Board of Governors of Bank Indonesia, governed by Perry Warjiyo, decided to maintain the seven-day reverse repo rate to 6.25 percent.

  • Wed, Jul 17, 2024 09:51
    Eurozone Inflation Slows To 2.5% As Estimated

    Eurozone inflation slowed as initially estimated in June but the European Central Bank is expected to hold its benchmark rate on Thursday as underlying inflation remains too high. The harmonized index of consumer prices rose 2.5 percent on a yearly basis, which was slower than the 2.6 percent growth posted in May. The 2.5 percent matched the flash estimate published on July 2.

  • Wed, Jul 17, 2024 09:16
    ADB Raises Developing Asia's Growth Outlook

    The Asian Development Bank raised developing Asia's economic growth outlook for this year as strong export growth and domestic demand boosted activity in the first quarter. In the Asian Development Outlook report released Wednesday, the ADB said the region will grow 5.0 percent in 2024, which was slightly better than the previous projection of 4.9 percent. The outlook for 2025 was maintained at 4

  • Wed, Jul 17, 2024 07:31
    UK Inflation Steady At 2.0%

    UK inflation remained unchanged at the official target in June but the stability of services inflation reduced chances of a rate cut in August. The consumer price index grew 2.0 percent on a yearly basis, the same pace of growth as seen in May, the Office for National Statistics said Wednesday. Headline inflation was expected to ease to 1.9 percent.

  • Wed, Jul 17, 2024 04:45
    European Economic News Preview: UK Inflation Data Due

    Consumer and producer prices from the UK and final inflation from the euro area are the top economic news due on Wednesday. At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for June. Output prices are expected to grow 1.8 percent on year after rising 1.7 percent in the previous month.