• Fri, May 17, 2024 20:39
    Dollar Retreats After Early Gains

    The U.S. dollar climbed higher in the European session on Friday, extending gains from the previous session, but retreated later and stayed somewhat subdued thereafter and shed ground against its counterparts amid bets the Federal Reserve will start cutting interest rates from September.

  • Fri, May 17, 2024 14:20
    U.S. Leading Economic Index Decreases More Than Expected In April

    Suggesting softer economic conditions lay ahead, the Conference Board released a report on Friday showing a continued decrease by its reading on leading U.S. economic indicators in the month of April. The Conference Board said its leading economic index fell by 0.6 percent in April after dipping by 0.3 percent in March. Economists had expected the index to decrease by another 0.3 percent.

  • Fri, May 17, 2024 12:08
    China Industrial Output Gains Strength; Retail Sales & Investment Data Disappoints

    China's industrial growth accelerated in April driven by robust exports but softening growth in retail sales and fixed asset investment reflects an uneven economic recovery necessitating more efforts from the part of the government to achieve the official growth target. Industrial production registered an annual increase of 6.7 percent after rising 4.5 percent in March.

  • Fri, May 17, 2024 07:43
    Malaysia GDP Growth Rebounds More Than Estimated

    Malaysia's economy logged a stronger-than-estimated rebound in the first quarter on household spending and investment, the second estimate from the Department of Statistics showed on Friday. Gross domestic product grew by a revised 4.2 percent on a yearly basis in the first quarter, the fastest expansion since the first quarter of 2023.

  • Fri, May 17, 2024 05:43
    European Economic News Preview: Eurozone Final Inflation Data Due

    Final inflation data from the euro area is the top economic news due on Friday, headlining a light day for the European economic news. At 2.30 am ET, Switzerland's Federal Statistical Office publishes quarterly industrial production data for the first quarter.

  • Thu, May 16, 2024 21:03
    Dollar Rebounds, Gains Against Major Counterparts

    The U.S. dollar climbed higher on Thursday, recovering from recent losses, lifted by data showing an increase in import prices, and hawkish comments from a couple of Fed officials.

  • Thu, May 16, 2024 14:46
    U.S. Industrial Production Unexpectedly Unchanged In April

    With a surge in utilities output offset by decreases in mining and manufacturing output, the Federal Reserve released a report on Thursday showing U.S. industrial production came in flat in the month of April. The Fed said industrial production came in unchanged in April after inching up by a downwardly revised 0.1 percent in March.

  • Thu, May 16, 2024 14:26
    Philly Fed Index Indicates Notably Slower Growth In May

    Philadelphia-area manufacturing activity saw a notable slowdown in the pace of growth in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity tumbled to 4.5 in May from 15.5 in April, although a positive reading still indicates growth.

  • Thu, May 16, 2024 14:06
    U.S. Import Prices Jump 0.9% In April, Much More Than Expected

    The Labor Department released a report on Thursday showing U.S. import prices jumped by much more than expected in the month of April. The report said import prices shot up by 0.9 percent in April after climbing by an upwardly revised 0.6 percent in March. Economists had expected import prices to rise by 0.3 percent compared to the 0.4 percent increase originally reported for the previous month.

  • Thu, May 16, 2024 13:54
    U.S. Weekly Jobless Claims Pull Back From More Than Eight-Month High

    After reporting a notable increase in first-time claims for U.S. unemployment benefits in the previous week, the Labor Department released a report on Thursday showing jobless claims pulled back roughly in line with estimates in the week ended May 11th. The Labor Department said initial jobless claims fell to 222,000, a decrease of 10,000 from the previous week's revised level of 232,000.

  • Thu, May 16, 2024 13:42
    U.S. Housing Starts Rebound In April But Building Permits Extend Slump

    New residential construction in the U.S. rebounded in the month of April, according to a report released by the Commerce Department on Thursday, although the report also unexpectedly showed a continued decrease in building permits.

  • Thu, May 16, 2024 11:23
    Philippine Central Bank Hints At Rate Cut

    The Philippine central bank hinted at an interest rate reduction in the third or fourth quarter of this year after policymakers decided to leave the benchmark interest rate unchanged for the fifth straight session on Thursday. The Monetary Board of the Bangko Sentral ng Pilipinas, governed by Eli Remolona, maintained the target reverse repurchase rate at 6.50 percent.

  • Wed, May 15, 2024 23:55
    Japan GDP Slumps 0.5% In Q1

    Japan's gross domestic product contracted a seasonally adjusted 0.5 percent on quarter in the first quarter of 2024, the Cabinet Office said on Thursday.

    That missed expectations for a decline of 0.3 percent after adding 0.2 percent in the previous three months.

  • Wed, May 15, 2024 20:59
    Dollar Extends Losses After Soft Inflation Data

    The U.S. dollar drifted lower on Wednesday, extending recent losses, as soft inflation data eased concerns about the outlook for interest rates.

  • Wed, May 15, 2024 14:50
    U.S. Business Inventories Edge Down In Line With Estimates In March

    The Commerce Department released a report on Wednesday showing a modest decrease in business inventories in the U.S. in the month of March. The report said business inventories edged by 0.1 percent in March after climbing by 0.3 percent in February. The dip matched economist estimates.

  • Wed, May 15, 2024 14:32
    Stany Zjednoczone Homebuilder Confidence Unexpectedly Slumps In May

    With higher mortgage rates weighing on sentiment, the National Association of Home Builders released a report on Wednesday showing an unexpected deterioration in U.S. homebuilder confidence in the month of May. The report said the NAHB/Wells Fargo Housing Market Index tumbled to 45 in May from 51 in April. Economists had expected the index to come in unchanged.

  • Wed, May 15, 2024 14:09
    New York Manufacturing Index Unexpectedly Indicates Slightly Faster Contraction

    The Federal Reserve Bank of New York released a report on Wednesday showing regional manufacturing activity unexpectedly contracted at a slightly faster rate in the month of May. The New York Fed said its general business conditions index edged down to a negative 15.6 in May from a negative 14.3 in April, with a negative reading indicating contraction.

  • Wed, May 15, 2024 13:55
    U.S. Retail Sales Unexpectedly Flat In April Amid Decrease In Auto Sales

    With a decrease in sales by motor vehicle and parts dealers offsetting increases in sales by other retailers, the Commerce Department released a report on Wednesday showing U.S. retail sales unexpectedly came in flat in the month of April. The Commerce Department said retail sales were virtually unchanged in April after climbing by a downwardly revised 0.6 percent in March.

  • Wed, May 15, 2024 13:22
    U.S. Consumer Prices Rise 0.3% In April, Slightly Less Than Expected

    A highly anticipated report released by the Labor Department on Wednesday showed consumer prices in the U.S. rose by slightly less than expected in the month of April. The Labor Department said its consumer price index increased by 0.3 percent in April after rising by 0.4 percent in March. Economists had expected consumer prices to climb by another 0.4 percent.

  • Wed, May 15, 2024 12:09
    EU Projects Eurozone To Log Gradual Growth, Inflation On Track To Target

    The European Commission projected the euro area economy to stage a gradual growth amid geopolitical risks and expects inflation to be on the track to hit the target. In the latest Spring economic forecast, released Wednesday, the commission said the single currency bloc will grow 0.8 percent this year, same as the Winter interim forecast.

  • Wed, May 15, 2024 08:16
    China Keeps Lending Rate Unchanged As Expected

    China's central bank left its medium-term lending facility rate unchanged on Wednesday as policymakers focus more on the currency stabilization. The People's Bank of China conducted the CNY 125 billion of one-year MLF facility. The rate on the MLF was retained at 2.5 percent. The MLF usually acts as a guide to the loan prime rate fixing.

  • Wed, May 15, 2024 06:42
    European Economic News Preview: Eurozone GDP Data Due

    Flash GDP estimate from the euro area is the top economic news due on Wednesday, headlining a light day for the European economic news. At 2.45 am ET, France's statistical office INSEE is set to publish final inflation figures for April. Consumer price inflation is seen at 2.2 percent, unchanged from the flash estimate.

  • Tue, May 14, 2024 20:38
    Dollar Drifts Lower Against Major Counterparts

    The U.S. dollar drifted lower on Tuesday despite data showing a bigger than expected increase in the nation's producer price inflation in the month of April and prospects of the Federal Reserve keeping interest rates higher for a longer period.

  • Tue, May 14, 2024 15:45
    Powell Says Fed Needs To Be Patient As Confidence Inflation Is Slowing Dips

    With inflation coming in hotter-than-expected during the first quarter, Federal Reserve Chair Jerome Powell said the central bank needs to be patient with regard to interest rates. "The first quarter in the United States was notable for its lack of further progress on inflation," Powell said during remarks at the annual general meeting of the Foreign Bankers' Association in Amsterdam on Tuesday.

  • Tue, May 14, 2024 13:29
    U.S. Producer Price Growth Exceeds Estimates In April

    Producer prices in the U.S. increased by more than expected in the month of April, according to a report released by the Labor Department on Tuesday. The Labor Department said its producer price index for final demand climbed by 0.5 percent in April after a revised 0.1 percent dip in March. Economists had expected producer prices to rise by 0.3 percent.