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European Economic News Preview: UK Unemployment Data Due
(RTTNews) - Unemployment from the UK and economic confidence from Germany are the top economic news due on Tuesday.
At 2.00 am ET, the Office for National Statistics releases UK labor market data. The jobless rate is forecast to rise to 4.5 percent in three months to December from 4.4 percent in the preceding period.
In the meantime, final inflation data is due from Sweden.
At 2.45 am ET, France's statistical office INSEE publishes final inflation figures for January. The flash estimate showed that inflation rose slightly to 1.4 percent from 1.3 percent in December.
At 5.00 am ET, Germany's ZEW economic confidence survey results are due. The economic sentiment index is expected to rise notably to 19.9 in February from 10.3 in January.
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TSX Retreats After Sailing Past 30k Mark For First Ever Time
Canadian benchmark S&P/TSX Composite Index breached the 30k mark for the first ever time, and moved on to a new high Tuesday morning before paring gains and slipping into negative territory, due largely to profit taking.
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Swiss Market Ends Marginally Down
The Switzerland market closed on a weak note on Tuesday after a choppy ride as stocks turned in a mixed performance.
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European Stocks Close Broadly Higher
European markets closed mostly higher on Tuesday with investors digesting the latest batch of regional economic data, and picking up stocks amid expectations of more monetary easing by the Federal Reserve.
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Powell Warns There's 'No Risk-Free Path' For Interest Rates
Following last week's decision to cut interest rates for the first time this year, Federal Reserve Chair Jerome Powell delivered remarks before the 2025 Greater Providence Chamber of Commerce Economic Outlook Luncheon in Warwick, Rhode Island, on Tuesday.
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Hungary Holds Rates Steady As Inflation Expected To Remain High
The Hungarian central bank left its interest rates unchanged again, on Tuesday, as policymakers assessed that tight monetary conditions were needed amid forecast that inflation is set to remain beyond the tolerance level in the coming months.
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Bay Street Likely To Post New Highs
Canadian shares are likely to open on a firm note Tuesday morning with higher oil and bullion prices set to trigger buying in energy and materials sectors.
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Wall Street Likely To Open Flat
Futures point to a somewhat flat start on Wall Street Tuesday morning. Data on manufacturing and services sector activity in the U.S. in the month of August, due after the opening bell, is likely to provide some direction to the market.
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Sweden Cuts Policy Rate By 25 Bps
Sweden's central bank cut its benchmark interest rate by 25 basis points in order to support economic recovery and signalled an end to the easing cycle. The executive board of the Riksbank decided to lower the policy rate by 25 basis points to 1.75 percent. The bank has reduced the rate by 200 basis points since it started policy easing in May 2024.
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