European stocks fell after a sluggish session on Wall Street, weighed down by disappointing results from L'Oréal SA and Hermes International SCA. The Stoxx Europe 600 fell 0.3% as of 8:17 a.m. in London. The technology sector fell 1.2% after Texas Instruments Inc. provided a weaker-than-expected outlook, adding to concerns that the semiconductor industry's recovery is faltering. Meanwhile, mining and energy stocks led gains. Britain's FTSE 100 Index outperformed, rising 0.5%, as easing inflation reinforced expectations that the Bank of England will cut interest rates in the coming months....
Oil prices edged higher on Monday, along with other risk assets, after U.S. data showed a slowdown in inflation, reviving hopes of further policy easing next year that would support global economic growth and oil demand. Brent crude futures were up 26 cents, or 0.4%, at $73.20 a barrel by 0141 GMT. U.S. West Texas Intermediate crude was up 31 cents, or 0.5%, at $69.77 a barrel. "Risk assets, including U.S. equity futures and crude oil, have started the week on a firmer footing," said IG market analyst Tony Sycamore, adding that cooler inflation data helped ease concerns after the Federal...
Gold (XAU/USD) prices held steady near $2,625 during the early Asian session on Monday. The Federal Reserve's (Fed) hawkish stance may weigh on the yellow metal. However, a weaker greenback after a softer inflation report could limit its decline. The Fed cut interest rates in its December meeting as expected but signaled it would slow the pace of borrowing cost cuts further. The Fed's dot plot, a chart that projects the future path of interest rates, indicated a half percentage point rate cut in 2025, compared to a full percentage point cut projected in September. This, in turn,...
EUR/USD held steady after the previous session's uptick, trading around 1.0430 during Asian hours on Monday. The pair's uptick could be attributed to the US Dollar's (USD) decline after the Personal Consumption Expenditures (PCE) Price Index data from the United States (US). The November inflation report showed that year-on-year core PCE inflation, the Fed's preferred measure of inflation, rose steadily to 2.8%, slower than the 2.9% expected. Monthly core inflation grew modestly by 0.1%, against the 0.2% forecast and the previous release of 0.3%. Weaker-than-expected US inflation data...
The U.S. dollar pulled back from a two-year high on Friday, but was heading for its third-straight week of gains, with data showing a slowdown in inflation two days after the Federal Reserve cut interest rates and indicated inflation was stubborn enough to scale back cuts in 2025. The dollar was down 0.72% against a basket of six other currencies at 107.64 after spiking as high as 108.54 - its highest level since November 2022. It was set to end the week 0.72% higher. Commerce Department data showed the personal consumption expenditures price index - the Fed's preferred inflation gauge -...
Oil prices edged higher on Friday as the dollar eased from two-year highs and as a slowdown in the inflation report bolstered expectations of two more rate cuts next year.Brent crude futures edged up 16 cent, or 0.2%, to $73.04 a barrel by 1:03 p.m. EST (1803 GMT). U.S. West Texas Intermediate crude futures gained 21 cents, or 0.3%, to $69.59 per barrel.The Brent benchmark was on track to end the week down about 2.5%, while WTI was set to ease about 3%.While the U.S. dollar retreated from a two-year high on Friday, it was heading for its third consecutive week of gains, with data showing a...