The dollar is up sharply against its major rivals at the end of the trading week. The U.S. currency has received a boost from the U.S. inflation data released this morning, as well as comments from Federal Reserve Chair Janet Yellen this afternoon.
Consumer prices in the U.S. rose in line with economist...
European Central Bank President Mario Draghi reiterated on Friday that euro area economic conditions have improved, indicating a cyclical recovery, and urged the region's governments to make progress on structural reform that is essential to sustain the momentum. "The economic outlook for the euro area is brighter today than it has been for seven long years," he said.
German business confidence weakened marginally from a 10-month high in May and the economy grew at a slower pace in the first quarter, as initially estimated, revealed two separate reports released Friday. The business confidence index fell less-than-expected to 108.5 in May from 108.6 in April, according to a survey by Munich-based Ifo Institute. This was the first fall in seven months but the i
Business confidence and detailed quarterly national accounts from Germany and public finance from the U.K. are due on Friday.
The Bank of Japan refrained from easing monetary stimulus further as policymakers assessed that faster economic growth in the first quarter warrants no more immediate actions. The Policy Board of the BoJ governed by Haruhiko Kuroda decided by an 8-1 majority vote to maintain its target of raising the monetary base at an annual pace of about JPY 80 trillion.
The Japanese yen strengthened against the other major currencies in the Asian session on Friday after the Bank of Japan kept its massive stimulus unchanged, as expected by economists.
In a statement, the BoJ announced that the policy board headed by Governor Haruhiko Kuroda decided by an 8-1 majority...
The dollar is little changed against both the Euro and Japanese Yen Thursday, but is down against the pound sterling. The U.S. released a number of economic reports today, which were largely weaker than anticipated. However, the leading economic index did exceed expectations.
While the Labor Department...
Firms responding to the Federal Reserve Bank of Philadelphia's Manufacturing Business Outlook Survey revealed that regional manufacturing activity has unexpectedly increased at a slower rate in May.
Suggesting the paltry economic growth in the first quarter may be temporary, the Conference Board released a report on Thursday showing that its index of leading U.S. economic indicators rose by much more than anticipated in April.
With lagging supply relative to demand putting upward pressure on home prices, the National Association of Realtors released a report on Thursday showing an unexpected decrease in existing home sales in the U.S. in the month of April.
European Central Bank policymakers agreed that a steady course of monetary policy with a focus on the firm implementation of the Governing Council's stimulus measures must be pursued more intently, the minutes of the April 14-15 rate-setting meeting showed on Thursday.
While the Labor Department released a report on Thursday showing a bigger than expected increase in initial jobless claims in the week ended May 16th, the four-week moving average of claims still fell to a new fifteen-year low.
U.K. retail sales recovered at a faster-than-expected pace on clothing demand in April, providing a notable support to economic growth at the start of second quarter. The volume of retail sales including auto fuel expanded 1.2 percent month-on-month reversing a 0.7 percent fall in March, the Office for National Statistics reported Thursday. This was the fastest growth since November.
The Eurozone economy lost growth momentum for a second successive month in May on weak German performance, but firms took extra staff at the fastest rate in four years. The composite output index dropped to 53.4 in May from 53.9 in April, flash survey data from Markit Economics showed Thursday. The reading was expected to remain unchanged at 53.9.
New Zealand is on track to see a budgetary deficit this fiscal year and would be in a position to post a surplus only by fiscal year 2015-16, according to the budgetary statement released by the Treasury on Thursday. The budgetary balance is expected to turn to a surplus of NZ$156 million in 2015-2016, with the surplus expected to rise to NZ$3.6 billion in 2018-2019.