European shares closed higher on Tuesday, buoyed by better-than-expected corporate earnings and renewed optimism that the Federal Reserve may cut interest rates next month. The pan-European STOXX 600 index edged up 0.15%, with most regional bourses also trading in the green. Earnings season, in full swing, offered some relief for investors concerned about the impact of trade uncertainty on corporate performance. Diageo gained 4.9% after the world's biggest spirits maker forecast flat 2026 sales despite U.S. tariffs and upped its cost-savings target. The stock boosted the food &...
The next SNB policy meeting is not scheduled until March 20, Rabobank's FX analyst Jane Foley notes."A lot can happen in six weeks, but at this point it seems fairly likely that the central bank will announce another cut in rates. This would follow the jumbo 50 bps move at the last meeting in December. The SNB only meets once a quarter. This alone increases the chances of a move next month."Arguably, it also raises the chances that policymakers could decide on another jumbo move since the next policy meeting will not be until June. That said, the SNB's policy rate is already at 0.50%. Given...
The US Dollar Index holds below 108.00 as mixed economic indicators raise concerns ahead of Friday's employment report.ADP reports a stronger-than-expected increase in private sector employment for January, while Initial Jobless Claims also rise.Investors anticipate the upcoming Nonfarm Payrolls data to gauge the Federal Reserve's future monetary policy decisionsThe US Dollar Index (DXY), which measures the value of the US Dollar (USD) against a basket of currencies, struggles to hold its recent gains, trading below 108.00 on Thursday. Mixed United States (US) economic data fuels uncertainty...
Aussie dips near 0.6280 amid trade gloom,RBA likely to cut rates to 4.1%, capping Aussie gains.Markets await US labor data for fresh momentum,Soft Trade Balance data from Australia also affected the Aussie.The Australian Dollar (AUD) softens to around 0.6280 in Thursday's American session, tallying nearly 0.30% losses. Expectations of a Reserve Bank of Australia (RBA) rate cut and revived United States (US)-China tariff anxieties hamper the pair's upside. Meanwhile, attention shifts to the United States labor market report on Friday, with the Aussie bracing for further volatility.On the...
Oil prices rose on Thursday after a sharp overnight decline as traders cautiously assessed escalating U.S.-China trade tensions, while data showing higher U.S. crude inventories reflected weak demand. At 9:10 a.m. ET (14:10 GMT), Brent crude futures were up 0.7% at $75.16 a barrel, while WTI crude futures expiring in March were up 0.8% at $71.61 a barrel. Sentiment had improved on Thursday after Saudi Aramco (TADAWUL:2222), the world's top oil exporter, detailed a sharp increase in prices for Asian buyers. "This is consistent with the strength we have seen in the physical Middle East...
The US Dollar Index (DXY), which tracks the performance of the US Dollar against six major currencies, jumped higher ahead of the US (US) trading session on Thursday (6/2), trading slightly above 108.00 at the time of writing. The move came after comments from US President Donald Trump expressing his intention to take over Gaza and reach a nuclear deal with Iran. In addition, a plan to end the war in Ukraine may be put forward this week or next by the Trump administration as well. On the economic data front, comments from US Treasury Secretary Scott Bessent sparked some support in US...