• Mon, Jun 10, 2024 11:43
    Eurozone Investor Confidence Highest Since Early 2022

    Euro area investor sentiment continued its recovery trend in June to hit the highest since early 2022 but the momentum remained weak as the economy still struggle to reach the level that prevailed before the outbreak of the war in Ukraine. The economic confidence index rose to +0.3 in June from -3.6 in May. The reading was forecast to remain negative in June, at -1.5.

  • Mon, Jun 10, 2024 08:10
    UK Job Placements Fall At Slowest Pace In More Than A Year: KPMG/REC Report

    UK permanent staff appointments fell for the twentieth consecutive month in May but the pace of decrease was the softest since March 2023, a report compiled by S&P Global showed on Monday. Recruitment consultants cited delayed decision making and a lack of demand amongst companies as reasons for the fall in recruitment activity, the KPMG/REC Report on Jobs revealed.

  • Mon, Jun 10, 2024 05:50
    European Economic News Preview: Eurozone Sentix Investor Confidence Due

    Investor sentiment from the euro area is the top economic news due on Monday, headlining a light day for the European economic news. At 2.00 am ET, Statistics Norway releases consumer and producer price figures. In the meantime, GDP, industrial output and household consumption figures from Sweden are due.

  • Fri, Jun 07, 2024 21:02
    Dollar Rises Sharply Against Major Counterparts After Upbeat Jobs Data

    The U.S. dollar gained significant ground against several major currencies on Friday as an interest rate cut in September faded a bit after data from the Labor Department showed a stronger than expected increase in the nation's non-farm payroll employment.

  • Fri, Jun 07, 2024 18:28
    Why Economists Think Jobs Report Could Delay Fed Rate Cuts?

    The strong set of employment figures released on Friday have sent market expectations for Fed rate cuts lower as the data pointed to a strong labor market and the increase in wages could add to the stickiness of inflation. Non-farm payroll employment surged by 272,000 jobs in May, data from the Labor Department showed Friday. Economists had forecast employment growth of about 185,000 jobs.

  • Fri, Jun 07, 2024 18:28
    Why Do Economists Think Jobs Report Could Delay Fed Rate Cuts?

    The strong set of employment figures released on Friday have sent market expectations for Fed rate cuts lower as the data pointed to a strong labor market and the increase in wages could add to the stickiness of inflation. Non-farm payroll employment surged by 272,000 jobs in May, data from the Labor Department showed Friday. Economists had forecast employment growth of about 185,000 jobs.

  • Fri, Jun 07, 2024 14:35
    Eurozone Economy Recovers On Household Spending, Trade

    The euro area economy recovered as initially estimated in the first quarter, driven by household spending along with favorable net exports, the latest data from Eurostat showed on Friday. Gross domestic product grew 0.3 percent sequentially, reversing the 0.1 percent fall in the final quarter of 2003. The rate confirmed the second estimate published on May 15.

  • Fri, Jun 07, 2024 14:28
    U.S. Wholesale Inventories Inch Up Slightly Less Than Expected In April

    Wholesale inventories in the U.S. crept up by slightly less than expected in the month of April, according to a report released by the Commerce Department on Friday. The Commerce Department said wholesale inventories inched up by 0.1 percent in April after falling by a revised 0.5 percent in March. Economists had expected wholesale inventories to rise by 0.2 percent.

  • Fri, Jun 07, 2024 13:23
    U.S. Job Growth Far Exceeds Estimates In May But Unemployment Rate Ticks Higher

    Employment in the U.S. shot up by far more than economists had been expecting in the month of May, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment surged by 272,000 jobs in May after climbing by a downwardly revised 165,000 jobs in April.

  • Fri, Jun 07, 2024 13:18
    German Industrial Output Logs 0.1% Fall; Exports Rise

    Germany's industrial production registered a marginal fall on falling construction output, while growth in both exports and imports accelerated more than expected, official data revealed on Friday. Industrial output edged down 0.1 percent on a monthly basis in April, Destatis said Friday. This follows a 0.4 percent drop in March. Although the pace of decrease softened from March.

  • Fri, Jun 07, 2024 12:45
    India Holds Key Interest Rates As Expected; Raises Growth Outlook

    India's central bank kept its key interest rates unchanged for the eighth straight session on Thursday and pledged to maintain the disinflationary stance until inflation aligns with the target on a durable basis amid faster economic growth. The Monetary Policy Committee of the Reserve Bank of India led by Governor Shaktikanta Das, voted 4-2 to keep the policy repo rate at 6.50 percent.

  • Fri, Jun 07, 2024 08:55
    UK House Prices Log Marginal Fall May: Halifax

    UK house market remained broadly stable with a marginal fall in house prices in May, data from the mortgage lender Halifax showed on Friday. House prices dropped unexpectedly by 0.1 percent month-on-month in May after remaining flat in April. Prices were expected to grow 0.2 percent.

  • Fri, Jun 07, 2024 06:23
    China Exports Growth Accelerates Sharply

    China's exports growth accelerated markedly in May despite escalating trade tensions, official data revealed on Friday. Exports posted an annual growth of 7.6 percent following a 1.5 percent rise in April, the Customs Administration reported today. Shipments were forecast to grow 6.0 percent.

  • Fri, Jun 07, 2024 04:03
    European Economic News Preview: German Industrial Production, Foreign Trade Data Due

    Industrial production and foreign trade from Germany and house prices from the UK are the top economic news due on Friday, headlining a busy day for the European economic news. At 2.00 am ET, Destatis is scheduled to issue Germany's industrial production and foreign trade for April.

  • Thu, Jun 06, 2024 20:54
    Dollar Loses Ground Against Major Counterparts Ahead Of Jobs Data

    The U.S. dollar stayed largely subdued on Thursday with traders digesting the European Central Bank's rate cut decision, and awaiting the crucial U.S. jobs data that could provide some clues about the likely timing of an interest rate cut by the Federal Reserve.

  • Thu, Jun 06, 2024 13:55
    U.S. Labor Productivity, Costs Increase Less Than Previously Estimated In Q1

    Revised data released by the Labor Department on Thursday showed U.S. labor productivity increased by slightly less than previously estimated in the first quarter of 2024. Unit labor costs also jumped by less than previously estimated during the quarter.

  • Thu, Jun 06, 2024 13:49
    U.S. Trade Deficit Widens To Largest Since October 2022

    With the value of imports jumping by much more than the value of exports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened significantly in the month of April. The Commerce Department said the trade deficit surged to $74.6 billion in April from a downwardly revised $68.6 billion in March.

  • Thu, Jun 06, 2024 13:42
    U.S. Jobless Claims Rise More Than Expected To 229,000

    A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits rose by more than expected in the week ended June 1st. The Labor Department said initial jobless claims climbed to 229,000, an increase of 8,000 from the previous week's revised level of 221,000.

  • Thu, Jun 06, 2024 12:46
    ECB Cuts Rates By 25 Bps As Expected On Improving Inflation Outlook

    The European Central Bank lowered interest rates by a quarter basis point on Thursday, in line with expectations, citing an improvement in the inflation outlook. The Governing Council, led by ECB President Christine Lagarde, cut the main refinancing rate by 25 basis points to 4.25 percent.

  • Thu, Jun 06, 2024 11:53
    German Manufacturing Orders Log Surprise Fall

    Germany's factory orders posted an unexpected decline in April on sharp reduction in large-scale orders, data from Destatis showed on Thursday. Factory orders dropped 0.2 percent month-on-month in April, confounding expectations for an increase of 0.3 percent. Orders had declined over the last four months. Nonetheless, the latest pace of decline was slower than the revised 0.8 percent fall pos

  • Thu, Jun 06, 2024 09:08
    UK Construction Growth Fastest In Nearly Two Years

    The UK construction sector logged its fastest growth in two years in May with activity and new orders increasing at sharper rates, survey results from S&P Global showed on Thursday. The construction Purchasing Managers' Index rose unexpectedly to 54.7 in May from 53.0 in April. The reading was forecast to fall to 52.5.

  • Thu, Jun 06, 2024 08:17
    German Construction Sector Continues To Contract

    Germany's construction sector remained deep in the contraction zone in May on sharp falls in total industry activity and new orders, the latest HCOB survey compiled by S&P Global showed on Thursday. The construction Purchasing Managers' Index posted 38.5 in May, up from 37.5 in April. A reading below the threshold 50.0 indicates contraction.

  • Thu, Jun 06, 2024 07:21
    ECB Set To Cut Key Rates By 25 Bps

    The European Central Bank is set to lower its key interest rates by 25 basis points on Thursday, ending the rate hiking cycle that began in July 2022. As the rate hike is widely priced in, markets focus more on tweaks to the policy statement and the future path of easing in the second half of the year.

  • Thu, Jun 06, 2024 05:12
    European Economic News Preview: ECB Set To Cut Rates By 25 Bps

    The European Central Bank is widely expected to cut its key interest rates on Thursday, ending the rate hiking cycle that began in mid-2022. At the governing council meeting in Frankfurt, policymakers are set to lower the main refinancing rate, the deposit facility rate and the lending rate by 25 basis points each.

  • Wed, Jun 05, 2024 20:30
    U.S. Dollar Seeing Modest Strength Following Upbeat Service Sector Data

    After trending lower over the past few days, the value of the U.S. dollar has shown a modest move back to the upside during trading on Wednesday.