The United Kingdom began the formal process of exiting the European Union on Wednesday after more than four decades of membership, thus entering uncharted territory for negotiations that is set to last two years. Prime Minister Theresa May's historic letter invoking the Article 50 of the Lisbon Treaty was delivered to the European Council President Donald Tusk in Brussels.
After reporting a steep drop in U.S. pending home sales in the previous month, the National Association of Realtors released a report on Wednesday showing that pending sales rebounded by much more than expected in the month of February. NAR said its pending home sales index spiked by 5.5 percent to 112.3 in February from 106.4 in January.
The United Kingdom is leaving the European Union as Britons wished and can look forward with optimism and hope that the best days are ahead, Prime Minister Theresa May said Wednesday, after announcing that her letter invoking Article 50 that triggers the Brexit process was delivered to the European Union.
The pound remained lower against its major counterparts in Asian session on Wednesday after the UK Prime Minister Theresa May sent the letter invoking Article 50 of the Lisbon Treaty to Brussels, kick-starting the formal process of leaving the European Union.
Britain's Ambassador to the EU Tim Barrow...
UK Prime Minister Theresa May signed a letter late Tuesday that notifies the European Union of her government invoking the Article 50 of the Lisbon Treaty, which will trigger the formal 'Brexit' process. Britain's Ambassador to the EU Tim Barrow will deliver the letter to the European Council President Donald Tusk in Brussels on Wednesday.
The 'Brexit' negotiation process is set to begin as the UK Prime Minister Theresa May signed the letter late Tuesday that notifies the European Union of her government invoking the Article 50 of the Lisbon Treaty.
The dollar struggled in early trade Tuesday, but jumped following the release of the stronger than expected consumer confidence report. The U.S. currency is now rising against all of its major rivals this afternoon.
Consumer confidence in the U.S. unexpectedly improved in the month of March, according...
Consumer confidence in the U.S. unexpectedly improved in the month of March, according to a report released by the Conference Board on Tuesday.
The Conference Board said its consumer confidence index jumped to 125.6 in March from a revised 116.1 in February.
The increase surprised economists, who...
South Korea's gross domestic product expanded a seasonally adjusted annualized 0.5 percent on quarter in the fourth quarter of 2016, the Bank of Korea said in Tuesday's revised reading.
That was moved up from 0.4 percent in January's preliminary reading and was unchanged from the three months prior.
The dollar got off to a weak start Monday, after investors reacted negatively to the decision by Republican leaders to withdraw Trump's healthcare bill intended to repeal and replace Obamacare late Friday. The failure of the Trumpcare bill sparked concerns about the ability of the Trump administration...
German business sentiment strengthened to a 68-month high in March as economic impetus pushed up companies' assessment of the current assessment and outlook.
The business confidence index rose to 112.3 in March from a revised 111.1 in February, survey data from the Munich-based Ifo institute revealed Monday.
Business confidence data from Germany is due on Monday, headlining a light day for the European economic news.
The dollar is turning in a mixed performance against its major rivals Friday afternoon, but is little changed overall. Investors are in a cautious mood ahead of a crucial Congressional vote on healthcare reform.
The vote was expected to take place Thursday evening, but House Republican leaders delayed...
Populist narrative that things were better before the euro is a deception and the single currency and EU are made scapegoats, European Central Bank Executive Board member Peter Praet said.
Reflecting a continued increase in demand for commercial aircraft and parts, the Commerce Department released a report on Friday showing that new orders for U.S. manufactured durable goods shot up by more than anticipated in the month of February. The report said durable goods orders jumped by 1.7 percent.