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Fri, Mar 22, 2024 20:59Dollar Gains Against Major Counterparts
The U.S. dollar scored over its major counterparts on Friday on recent strong economic data and uncertainty about when the Fed will start cutting interest rates.
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Fri, Mar 22, 2024 10:06German Ifo Business Confidence Brightens In March
Business confidence in Germany improved in March on stronger expectations and better assessment of the current conditions, survey results from the ifo Institute showed on Friday. The business sentiment index rose more-than-expected to 87.8 from an upwardly revised 85.7 in February. The score was forecast to climb to 86.0.
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Fri, Mar 22, 2024 09:45UK Retail Sales Stable Amid Wet Weather
UK retail sales steadied in February after rebounding at the start of the year, as poor weather lead to a reduction in footfall, data released by the Office for National Statistics showed on Friday. Retail sales were unchanged from January, when they expanded by a revised 3.6 percent in January. Sales were forecast to fall 0.4 percent.
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Fri, Mar 22, 2024 05:30European Economic News Preview: Germany Ifo Business Confidence Due
Business sentiment survey results from Germany and retail sales from the UK are due on Friday, headlining a busy day for the European economic news. At 2.00 am ET, the Office for National Statistics releases UK retail sales data for February. Sales are forecast to fall 0.4 percent on month, in contrast to the 3.4 percent rise in January.
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Thu, Mar 21, 2024 21:35Dollar Rises On Strong Economic Data
The U.S. dollar climbed higher on Thursday, lifted by encouraging economic data, including jobless claims report, and an unexpected increase in existing home sales.
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Thu, Mar 21, 2024 15:17U.S. Leading Economic Index Unexpectedly Increases For First Time In Two Years
A report released by the Conference Board on Thursday showed its reading on leading U.S. economic indicators unexpectedly increased for the first time in two years in February. The Conference Board said its leading economic index inched up by 0.1 percent in February after falling by 0.4 percent in January. Economists had expected the index to decrease by 0.3 percent.
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Thu, Mar 21, 2024 15:06U.S. Existing Home Sales Unexpectedly Spike To Highest Level In A Year
After reporting a notable increase in U.S. existing home sales in the previous month, the National Association of Realtors released on report on Thursday showing existing home sales unexpectedly continued to soar in the month of February. NAR said existing home sale index spiked by 9.5 percent to an annual rate of 4.38 million in February.
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Thu, Mar 21, 2024 14:17Philly Fed Index Edges Lower But Remains Positive In March
The Federal Reserve Bank of Philadelphia released a report on Thursday showing a modest slowdown in the pace of growth in regional manufacturing activity in the month of March. The Philly Fed said its diffusion index for current general activity slipped to 3.2 in March from 5.2 in February, although a positive reading still indicates growth.
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Thu, Mar 21, 2024 13:42Bank Of England Keeps Rate On Hold For Fifth Time
The Bank of England maintained its key policy rate for the fifth straight session on Thursday, with no members seeking a hike as inflation is expected to ease faster than expected. The Monetary Policy Committee, led by Governor Andrew Bailey, voted 8-1 to keep the bank rate unchanged at 5.25 percent. No members called for a tightening this time.
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Thu, Mar 21, 2024 13:30U.S. Jobless Claims Unexpectedly Edge Down To 210,000
A report released by the Labor Department on Thursday unexpectedly showed a slight drop by first-time claims for U.S. unemployment benefits in the week ended March 16th. The Labor Department said initial jobless claims edged down to 210,000, a decrease of 2,000 from the previous week's revised level of 212,000. The dip surprised economists, who had expected jobless claims to rise to 215,000.
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Thu, Mar 21, 2024 12:03Switzerland's Central Bank Unexpectedly Cuts Policy Rate
The Swiss National Bank made a surprise interest rate cut on Thursday and became the first major central bank to ease the policy in the current cycle as the fight against inflation over the last two and a half years has been effective. The SNB unexpectedly lowered the policy rate by 25 basis points to 1.5 percent. Markets had expected the bank to keep the rate unchanged.
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Thu, Mar 21, 2024 12:00Eurozone Private Sector Nears To Stabilization
The euro area economy moved closer to stabilization in March as services activity expanded for the second month and the decline in manufacturing output softened, flash results from S&P Global purchasing managers' survey showed on Thursday. The composite output index rose more than expected to 49.9 in March from 49.2 in the previous month. The score was seen at 49.7.
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Thu, Mar 21, 2024 10:04UK Budget Deficit Worse Than Expected
The UK budget deficit was wider than economists' expectations in February despite an increase in receipts, official data revealed on Thursday. Public sector net borrowing, or PSNB, excluding public sector banks decreased by GBP 3.4 billion from the previous year to GBP 8.4 billion in February, the Office for National Statistics said. However, borrowing was well above economists' forecast.
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Thu, Mar 21, 2024 05:24European Economic News Preview: Bank Of England Policy Decision Due
The monetary policy announcement from the Bank of England and flash Purchasing Managers' survey results from the major euro area economies are the top economic news due on Thursday. At 3.00 am ET, the Office for National Statistics releases UK public sector finance data. In the meantime, the European Automobile Manufacturers' Association publishes Europe's new car registrations data for February.
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Wed, Mar 20, 2024 21:13Dollar Pares Gains After Fed Policy Announcement
After climbing higher in the European session and holding firm till well past noon on Wednesday, the U.S. dollar pared gains after the Federal Reserve left interest rates unchanged and signaled a few rate cuts this year.
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Wed, Mar 20, 2024 18:25Fed Leaves Rates Unchanged, Still Needs Greater Confidence Inflation Is Slowing
The Federal Reserve announced its widely expected decision to leave interest rates unchanged on Wednesday. The Fed's accompanying statement acknowledged inflation has eased over the past year but reiterated officials do not expect it will be appropriate to lower rates until they have gained "greater confidence" inflation is moving sustainably toward 2 percent.
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Wed, Mar 20, 2024 13:45U.S. Mortgage Applications Pull Back 1.6% In Week Ended March 15th
Mortgage applications in the U.S. saw a notable pullback in the week ended March 15th, according to a report released by the Mortgage Bankers Association on Wednesday. The MBA said the Market Composite Index, a measure of mortgage loan application volume, decreased 1.6 percent last week after surging by 7.1 percent in the previous week.
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Wed, Mar 20, 2024 11:40UK Inflation Near 2-1/2 Year Low
UK consumer price inflation weakened to the lowest in nearly two-and-a-half years in February on easing food price inflation, official data showed ahead of the Bank of England's monetary policy announcement this week. The consumer price index registered an annual growth of 3.4 percent, slower than the 4.0 percent rise in January, the Office for National Statistics reported Wednesday.
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Wed, Mar 20, 2024 08:32China Keeps Key Lending Rates Unchanged
China's central bank left its loan prime rates unchanged on Wednesday, as widely expected, as authorities monitor developments in the housing market and credit growth. The People's Bank of China kept the five-year loan prime rate at 3.95 percent after lowering it by 5 basis points in February. The one-year LPR was retained at 3.45 percent.
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Wed, Mar 20, 2024 05:22European Economic News Preview: UK Inflation Data Due
Consumer and producer prices data from the UK is the top economic news due on Wednesday, headlining a light day for the European economic news. At 3.00 am ET, the Office for National Statistics is scheduled to issue UK consumer and producer prices for February. Inflation is forecast to ease to 3.5 percent from 4.0 percent in January. Economists expect output prices to fall 0.1 percent on year.