• Thu, Jun 20, 2024 08:30
    Swiss Central Bank Lowers Policy Rate By 25 Bps

    The Swiss National Bank lowered its key policy rate for the second consecutive meeting on Thursday, citing easing underlying inflationary pressures. The policy board headed by Thomas Jordan decided to cut the policy rate by 25 basis points to 1.25 percent. The new rate will take effect on June 21. The bank had unexpectedly reduced its rate by a quarter point at the March meeting.

  • Thu, Jun 20, 2024 06:36
    China Keeps Lending Rates Unchanged As Expected

    China's central bank maintained its lending rates unchanged, as widely expected, on Thursday. The People's Bank of China kept its one-year loan prime rate unchanged at 3.45 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.95 percent.

  • Thu, Jun 20, 2024 05:55
    European Economic News Preview: Bank Of England Policy Decision Due

    The monetary policy announcements from the Bank of England and the Swiss National Bank are the top events due on Thursday, headlining a hectic day for the European Economic news. The BoE is widely expected to hold its interest rate at 5.25 percent for the seventh straight session despite inflation hitting the 2 percent target in May.

  • Wed, Jun 19, 2024 14:33
    U.S. Homebuilder Confidence Unexpectedly Dips To Six-Month Low In June

    A report released by the National Association of Home Builders on Wednesday unexpectedly showed a continued deterioration in U.S. homebuilder confidence in the month of June. The report said the NAHB/Wells Fargo Housing Market Index fell to 43 in June after slumping to 45 in May, while economists had expected the index to come in unchanged.

  • Wed, Jun 19, 2024 06:48
    UK Inflation Eases To 2% Target

    UK consumer price inflation hit the 2 percent target in May, data from the Office for National Statistics showed on Wednesday. Consumer price inflation softened to 2.0 percent in May, as expected, from 2.3 percent in April. The central bank targets to keep inflation at 2 percent.

  • Wed, Jun 19, 2024 05:46
    Japan Exports Rise Most Since Late 2022

    Underpinned by weaker yen, Japan's exports grew at the fastest pace since 2022 in May despite the fall in sales volume, official data revealed on Wednesday. Exports advanced 13.5 percent on a yearly basis after rising 8.3 percent in April, the Ministry of Finance said. This was the fastest expansion since late 2022 and marked the sixth consecutive rise.

  • Wed, Jun 19, 2024 05:22
    European Economic News Preview: UK Inflation Data Due

    Consumer and producer prices from the UK and current account from the euro area are due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK consumer and producer prices for May. Consumer price inflation is seen at 2.0 percent compared to 2.3 percent in April. Output prices are expected to climb 0.1 percent on month.

  • Tue, Jun 18, 2024 21:13
    Dollar Tuns Weak After Retails Data

    The U.S. dollar lost ground against most of its major counterparts on Tuesday, weighed down by data showing a smaller than expected increase in the retail sales in the month of May.

  • Tue, Jun 18, 2024 14:16
    U.S. Business Inventories Increase In Line With Estimates In April

    A report released by the Commerce Department on Tuesday showed business inventories in the U.S. increased in line with economist estimates in the month of April. The Commerce Department said business inventories rose by 0.3 percent in April after edging down by 0.1 percent in March. Economists had expected business inventories to climb by 0.3 percent.

  • Tue, Jun 18, 2024 13:41
    U.S. Industrial Production Jumps Much More Than Expected In May

    Industrial production in the U.S. increased by much more than expected in the month of May, the Federal Reserve revealed in a report released by on Tuesday. The Fed said industrial production jumped by 0.9 percent in May after coming in unchanged in April. Economists had expected industrial production to rise by 0.3 percent.

  • Tue, Jun 18, 2024 13:30
    U.S. Retail Sales Inch Up 0.1% In May, Slightly Less Than Expected

    Retail sales in the U.S. inched slightly higher in the month of May, according to a report released by the Commerce Department on Tuesday. The Commerce Department said retail sales crept up by 0.1 percent in May after dipping by a revised 0.2 percent in April. Economists had expected retail sales to rise by 0.2 percent compared to the unchanged reading originally reported for the previous month.

  • Tue, Jun 18, 2024 12:02
    Australian Dollar Recovers After RBA Keeps Key Rate Unchanged

    The Australian dollar recovered from recent lows against other major currencies in the Asian session on Tuesday, after the Reserve Bank of Australia maintained its interest rates at a 12-year high for a fifth straight meeting.

  • Tue, Jun 18, 2024 11:42
    German Economic Sentiment Rises Slightly In June

    German economic confidence improved only marginally in June, survey data from the ZEW economic research institute showed Tuesday. The ZEW Indicator of Economic Sentiment rose slightly to 47.5 in June from 47.1 in the previous month. The reading remained below forecast of 50.0. Assessment of current situation deteriorated in June with the index falling to -73.8 from -72.3 last month.

  • Tue, Jun 18, 2024 09:39
    Eurozone Inflation Rises As Estimated

    Eurozone inflation accelerated in May, as initially estimated, largely driven by services cost, official data revealed on Tuesday. The harmonized index of consumer prices rose 2.6 percent on a yearly basis, following the 2.4 percent rise in April, Eurostat reported. The rate came in line with the estimate published on May 31 and it has moved away from the ECB's 2 percent target.

  • Tue, Jun 18, 2024 07:54
    RBA Holds Key Rate At 12-Year High; Vigilant On Inflation

    The Reserve Bank of Australia decided to leave its benchmark rate at a 12-year high for a fifth straight meeting and underscored that inflation is slowing more slowly than anticipated, leaving the door open for a possible rate hike. The policy board of the RBA, led by Governor Michele Bullock, retained the cash rate target at 4.35 percent.

  • Tue, Jun 18, 2024 05:54
    European Economic News Preview: German ZEW Economic Confidence Data Due

    Economic sentiment survey results from Germany and final inflation from the euro area are the top economic news due on Tuesday. At 3.00 am ET, final inflation figures are due from Austria. The initial estimate showed that the consumer price inflation eased to 3.3 percent in May from 3.5 percent in April.

  • Mon, Jun 17, 2024 13:17
    New York Manufacturing Index Indicates Notably Slower Contraction In June

    New York manufacturing activity contracted at a notably slower rate in the month of June, according to a report released by the Federal Reserve Bank of New York on Monday. The New York Fed said its general business conditions index climbed to a negative 6.0 in June from a negative 15.6 in May, although a negative reading still indicates contraction.

  • Mon, Jun 17, 2024 12:48
    Eurozone Labor Cost Growth Exceeds Expectations

    The euro area hourly labor cost growth accelerated more than expected in the first quarter, which aligns with trends revealed by other indicators and the European Central Bank's view that wage pressures are set to remain elevated for some time before entering a downward trajectory next year. Hourly labor cost grew at a faster pace of 5.1 percent on a yearly basis.

  • Mon, Jun 17, 2024 08:18
    China Industrial Output Growth Weakens; Property Investment Downturn Continues

    China's industrial production growth slowed more than expected in May and the property investment deteriorated further despite supportive measures, official data revealed on Monday. Industrial production growth decelerated to 5.6 percent in May from 6.7 percent in April, the National Bureau of Statistics reported.

  • Mon, Jun 17, 2024 04:31
    European Economic News Preview: Italy Final Inflation Data Due

    Final inflation from Italy and economic forecast from Switzerland are due the top economic news due on Monday. At 3.00 am ET, the State Secretariat for Economic Affairs is scheduled to issue Swiss economic forecast.

  • Fri, Jun 14, 2024 20:58
    Dollar Rises To Near 7-year High

    The U.S. dollar rose to a near 7-week high on Friday with traders betting on just one interest rate cut by the Federal Reserve this year.

  • Fri, Jun 14, 2024 14:12
    U.S. Consumer Sentiment Unexpectedly Drops To Seven-Month Low In June

    The University of Michigan released preliminary data on Friday unexpectedly showing a continued deterioration in U.S. consumer sentiment in the month of June. The report said the consumer sentiment index fell to 65.6 in June after tumbling to 69.1 in May. Economists had expected the index to rebound to 72.0.

  • Fri, Jun 14, 2024 13:23
    U.S. Import Price Unexpectedly Decrease 0.4% In May

    A report released by the Labor Department on Friday showed unexpected decreases by U.S. import and export prices in the month of May. The Labor Department said import prices fell by 0.4 percent in May following a 0.9 percent advance in April. Economists had expected import prices to inch up by 0.1 percent.

  • Fri, Jun 14, 2024 06:39
    Bank Of Japan Delays Bond Purchase Reduction

    The Bank of Japan delayed its normalization of policy on Friday as policymakers decided to unveil a detailed plan for reducing its bond purchase programme at its upcoming meeting in July. At the June meeting, the policy board governed by Ueda Kazuo, decided to conduct purchases of Japanese government bonds, CP, and corporate bonds in accordance with the decision made at the March meeting.

  • Fri, Jun 14, 2024 05:16
    European Economic News Preview: Eurozone Foreign Trade Data Due

    Foreign trade from the euro area and final consumer prices from France are the top economic news due on Friday. At 2.45 am ET, France's statistical office INSEE is slated to issue final consumer prices and harmonized consumer price data. The flash estimate showed that consumer price inflation held steady at 2.2 percent in May.