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Thu, Apr 25, 2024 05:33European Economic News Preview: German Consumer Confidence Data Due
Consumer sentiment survey data from Germany is the top economic news due on Thursday, headlining a light day for the European economic news. At 2.00 am ET, the market research group GfK is slated to issue Germany's consumer confidence survey results. The sentiment index is forecast to rise to -25.9 in May from -27.4 in April.
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Wed, Apr 24, 2024 23:48South Korea Q1 GDP Climbs 1.3%
South Korea's gross domestic product was up a seasonally adjusted 1.3 percent on quarter in the first three months of 2024, the Bank of Korea said on Thursday.
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Wed, Apr 24, 2024 21:08Dollar Turns In Mixed Performance Ahead Of GDP, PCE Data
The U.S. dollar stayed fairly steady on Wednesday, scoring gains against some of its major counterparts, and drifting down a bit against some, as traders digested U.S. durable goods orders data, and awaited Q1 GDP data and a report on personal income and spending that includes readings on inflation said to be preferred by the Fed.
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Wed, Apr 24, 2024 13:58U.S. Durable Goods Orders Surge 2.6% In March, More Than Expected
With orders for transportation equipment showing a substantial increase, the Commerce Department released a report on Wednesday showing new orders for U.S. manufactured durable goods surged by more than expected in the month of March. The report said durable goods orders soared by 2.6 percent in March after climbing by a downwardly revised 0.7 percent in February.
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Wed, Apr 24, 2024 12:50German Ifo Business Confidence Near 1-Year High
Germany's business sentiment strengthened for the third straight month to a near one-year high in April on a notable improvement in confidence among service providers. The business confidence index climbed to 89.4 in April from a revised 87.9 in March, monthly survey results from the ifo Institute showed on Wednesday. This was the highest score since May 2023, when the reading was 91.4.
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Wed, Apr 24, 2024 11:50Indonesia Central Bank Unexpectedly Hikes Rate
Indonesia's central bank surprised markets on Wednesday with an unexpected quarter-point rate hike to strengthen the rupiah. The Board of Governors of Bank Indonesia, governed by Perry Warjiyo, decided to lift the seven-day reverse repo rate to 6.25 percent from 6.00 percent. The current rate is the highest since 2016, when the bank made the seven-day reverse repo as its main policy rate.
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Wed, Apr 24, 2024 05:46European Economic News Preview: Germany Ifo Business Confidence Data Due
Business sentiment survey data from Germany is the major report due on Wednesday, headlining a light day for the European economic news. At 4.00 am ET, the ifo Institute is scheduled to issue Germany's business confidence survey results. The business sentiment index is expected to climb to 88.9 in April from 87.8 in March.
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Tue, Apr 23, 2024 21:05Dollar Drifts Lower Against Major Counterparts After Weak Economic Data
The U.S. dollar traded weak on Tuesday, weighed down by data showing a slowdown in the nation's manufacturing activity, and on the Euro's strength after data showed a notable expansion in Eurozone manufacturing and services sector activity.
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Tue, Apr 23, 2024 14:35USA Nowe Home Sales Surge Much More Than Expected In March
A report released by the Commerce Department on Tuesday showed a substantial increase in new home sales in the U.S. in the month of March. The Commerce Department said new home sales spiked by 8.8 percent to an annual rate of 693,000 in March after plunging by 5.1 percent to a revised rate of 637,000 in February.
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Tue, Apr 23, 2024 12:39Eurozone Private Sector Growth Strongest In Almost A Year
The euro area private sector expanded the most in nearly a year in April as the continuing downturn in the manufacturing activity was offset the strength in the service sector, flash survey results from S&P Global showed on Tuesday. The composite output index registered 51.4 in April, up from 50.3 in March. The reading stayed above economists' forecast of 50.8.
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Tue, Apr 23, 2024 10:33UK Private Sector Activity Expands Most In 11 Months
The UK private sector economy grew at the quickest pace in nearly a year in April amid a robust growth in service sector output, flash survey results from S&P Global showed on Tuesday. The composite output index rose to 54.0 in April from 52.8 in March. A reading above 50.0 indicates expansion in the private sector.
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Tue, Apr 23, 2024 05:47European Economic News Preview: Eurozone Flash PMI Data Due
Flash Purchasing Managers' survey results from the euro area and the UK are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK public sector finance data. The budget deficit is forecast to widen to GBP 8.9 billion in March from GBP 7.48 billion in February.
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Mon, Apr 22, 2024 21:16Dollar Turns In Mixed Performance Against Major Rivals Ahead Of Key Economic Data
The U.S. dollar turned in a mixed performance against its major counterparts on Monday as traders looked ahead to a slew of crucial U.S. economic data for more clarity about the outlook for interest rates.
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Mon, Apr 22, 2024 12:28Swiss Central Bank Lifts Minimum Reserve Requirement
The Swiss National Bank raised the minimum reserve requirement for domestic banks, which is set to reduce its payout. The SNB lifted the minimum reserve ratio to 4 percent from 2.5 percent. The bank also made changes to how it calculates the minimum reserve requirements.
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Mon, Apr 22, 2024 07:27China Keeps Lending Rates Unchanged As Expected
China maintained its benchmark lending rates unchanged as expected after the economy showed signs of improvement at the start of the year. At a monthly fixing on Monday, the People's Bank of China kept the one-year loan prime rate at 3.45 percent. Likewise, the five-year LPR, the benchmark for mortgage rates, was retained at 3.95 percent.
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Fri, Apr 19, 2024 20:47Dollar Turns In Mixed Performance Against Major Counterparts
After trading weak in the Asian and European sessions, the U.S. dollar slipped a bit deeper in the New York session on Friday, and despite rebounding as the session progressed, struggled to move any significantly above the flat line.
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Fri, Apr 19, 2024 08:52UK Retail Sales Stable In March
UK retail sales were unchanged on a month-on-month basis in March, defying expectations for a gain, preliminary data from the Office for National Statistics showed Friday. Retail sales including automotive fuel grew 0.1 percent in the previous month. Economists were looking for a 0.3 percent gain for March.
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Thu, Apr 18, 2024 21:04Dollar Rises Against Major Counterparts
The U.S. dollar climbed higher on Thursday, gaining some ground against most of its major counterparts, after weekly jobless claims data indicated continued strength in the labor market.
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Thu, Apr 18, 2024 15:06U.S. Existing Home Sales Pull Back Sharply In March
A report released by the National Association of Realtors on Thursday showed a sharp pullback by existing home sales in the U.S. in the month March. NAR said existing home sales plunged by 4.3 percent to an annual rate of 4.19 million in March after surging by 9.5 percent to a rate of 4.38 million in February. Economists had expected existing home sales to slump to a rate of 4.20 million.
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Thu, Apr 18, 2024 14:30U.S. Leading Economic Index Unexpectedly Pulls Back In March
The Conference Board released a report on Thursday showing an unexpected pullback by its index of leading U.S. economic indicators in the month of March. The report said the leading economic index fell by 0.3 percent in March after rising by 0.2 percent in February. The modest advance in February marked the first increase by the leading index in two years.
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Thu, Apr 18, 2024 13:48Philly Fed Index Unexpectedly Indicates Faster Growth In April
Growth in Philadelphia-area manufacturing activity has unexpectedly seen a considerable acceleration in the month of April, the Federal Reserve Bank of Philadelphia revealed in a report released on Thursday. The Philly Fed said its diffusion index for current general activity jumped to 15.5 in April from 3.2 in March, with a positive reading indicating growth.
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Thu, Apr 18, 2024 13:28U.S. Jobless Claims Unchanged From Slightly Upwardly Revised Level
First-time claims for U.S. unemployment benefits remained flat in the week ended April 13th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims came in at 212,000, unchanged from the previous week's revised level. Economists had expected jobless claims to rise to 215,000 from the 211,000 originally reported for the previous week.
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Thu, Apr 18, 2024 10:06Eurozone Construction Output Rises For Third Month
Euro area construction output grew for a third straight month in February and at a stronger pace, mainly led by civil engineering works and rebound in building construction, preliminary data from the statistical office Eurostat showed Thursday. Construction output rose a calendar and seasonally adjusted 1.8 percent month-on-month following a downwardly revised 0.2 percent gain in January.
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Thu, Apr 18, 2024 04:00European Economic News Preview: Swiss Foreign Trade Data Due
Foreign trade data from Switzerland and the current account from the euro area are the top economic news due on Thursday. At 2.00 am ET, Switzerland's customs office is slated to release foreign trade data for March.
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Wed, Apr 17, 2024 20:27U.S. Dollar Giving Back Ground Following Recent Strength
After trending higher over the past several days, the value of the U.S. dollar has given back ground during trading on Wednesday.