The European Central Bank (ECB) announced on Thursday (October 30th) that it kept its key interest rates unchanged after its October policy meeting, as expected. This decision leaves the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate at 2.15%, 2.4%, and 2%, respectively. The European Central Bank (ECB) is expected to maintain the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate at 2.15%, 2.4%, and 2%, respectively. The decision will be announced on Thursday at 13:15 GMT. The rate...
The US economy expanded at a faster pace in the third quarter than previously estimated, owing in part to to stronger consumer spending and exports. Gross domestic product increased at a 3.1% annualized rate in the third quarter, the third estimate of the figures from the Bureau of Economic Analysis showed Thursday. That compared to a previous projection of 2.8%. Consumer spending was marked up to a 3.7% pace from 3.5%. The numbers reinforce the notion that the economy is still powering ahead despite expectations among forecasters for an eventual slowdown. The report comes...
The number of Americans filing for unemployment benefits fell to 220,000 in the week ended Dec. 15, 2024. That was down from the 229,000 estimate and from the previous weekly reading of 242,000, the Labor Department said Thursday (12/19). Source: @Newsmaker23
The Bank of England left the benchmark bank rate steady at 4.75% during its December 2024 meeting, in line with market expectations, as CPI inflation, wage growth and some indicators of inflation expectations had risen, adding to the risk of inflation persistence. However, three policymakers preferred to reduce the bank rate by 25bps to 4.5% on the back of sluggish demand and a weakening labour market. The central bank reinforced that a gradual approach to removing monetary policy restraint remains appropriate and that monetary policy will need to continue to remain restrictive for...
EUR/USD surged closer to 1.0400 during the European session on Thursday as the US Dollar (USD) strength took a breather after Wednesday's sharp rally. The US Dollar Index (DXY), which tracks the greenback against a basket of six major currencies, held gains near a fresh two-year high above 108.00. The greenback drew significant bids after the Federal Reserve (Fed) cut its key lending rate by 25 basis points (bps) to 4.25%-4.50% on Wednesday, as expected, but signaled fewer rate cuts for next year. In the latest dot chart, the Fed revised its projection for the number of interest rate cuts...
The United Kingdom (UK) Consumer Price Index (CPI) edged higher by 2.6% on a yearly basis in November after recording a 2.3% growth in October, according to the data released by the Office for National Statistics (ONS) on Wednesday. Data aligned with the market forecast of 2.6% and stayed well above the Bank of England's (BoE) 2.0% target. Core CPI (excluding volatile food and energy items) rose by 3.5% YoY in November, compared to a 3.3% increase in October while missing the market consensus of 3.6%. The UK November Services CPI inflation stayed unchanged at 5.0% YoY in November.The UK...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down on illegal fentanyl trade, resuming purchases of...