British Pound Weekly Forecast: Lack of Local Cues Could See a Drift Lower
Sterling has largely ignored the announcement of a UK election, with the economic fundamentals still very much in charge
A Hawkish Tone from Central Banks Weigh on Stocks, US PCE up Next
The Fed and RBNZ highlight inflation risks which saw the dollar and Treasury yields strengthen, weighing on stocks. In the coming week PCE will be the main focus alongside the 2nd estimate of US GDP, Aus and EU CPI
Oil Holds Steady Around ThreeMonth Lows
LONDON, May 24 Reuters Oil prices were stable on Friday but poised to show a weekly loss under pressure from lingering concerns that sticky inflation could prolong higher interest rates and curb fuel demand. Brent crude futures fell by 25 cents, or 0.31, to 81.11 a barrel by 1151 GMT. U.S. West Texas Intermediate WTI […]
FTSE 100, DAX 40 and S&P 500 Drop as Rates Higher for Longer Scenario Scares off Buyers
Outlook on FTSE 100, DAX 40 and S&P 500 amid signs that Fed members worry about inflation creeping back.
US Labor Market Remains Strong; Housing Market Losing Momentum
Weekly jobless claims fall 8,000 to 215,000 Continuing claims increase 8,000 to 1.794 million New home sales drop 4.7 in April; March revised down Median new house price up 3.9 to 433,500 from year ago WASHINGTON, May 23 Reuters The number of Americans filing new claims for unemployment benefits fell last week, pointing to underlying […]
Japans Inflation Slows Further, Keeping BOJ Cautious on Rate Hikes
April core CPI rises 2.2 yy, cools from March, matches f39;cast Corecore CPI rises 2.4, slows from March Soft consumption likely to reinforce BOJ caution on rate hikes TOKYO, May 24 Reuters Japan39;s core inflation slowed for a second straight month in April, likely signalling that the Bank of Japan will be patient in raising […]
German Economy Grew 0.2 in Q1, Stats Office Confirms
BERLIN, May 24 Reuters The German economy grew by 0.2 in the first three months of 2024, the statistics office reported on Friday, confirming preliminary data. After GDP declined at the end of 2023, the German economy started 2024 with positive growth, said Ruth Brand, president of the statistics office. Despite declining inflation, household consumption […]
Dollar Gains as Traders Trim US Rate Cut Bets
SINGAPORE, May 24 Reuters The dollar headed for its largest weekly rise in a month and a half on Friday as surprisingly strong U.S. economic data has left markets on edge about the outlook for U.S. inflation and interest rates. May figures showed U.S. business activity accelerated to the highest level in just over two years and […]
European Automakers Need Time, not Tariffs, to Fend off China Competition
MUNICH, May 23 Reuters Europe39;s car giants won39;t have much time to restructure their operations and product lines to compete with ascendant Chinese automakers, and stiffer tariffs will do little to protect the status quo, industry executives said during a Reuters event. European trade regulators in Brussels have said they could levy new tariffs on Chinese electric […]
US House Passes Crypto Bill Despite Warnings from SEC
Reuters The U.S. House of Representatives on Wednesday passed a bill that aims to create a new legal framework for digital currencies, despite an unusual warning from the U.S. securities regulator it could create new financial risks. The Republicansponsored Financial Innovation and Technology for the 21st Century Act passed in a bipartisan 279136 vote. It […]