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Swiss Govt Forecasts Below-Average Growth

Switzerland's economy is expected to log significantly below-average growth though the year started vigorously, the State Secretariat for Economic Affairs, or SECO, said Thursday. The expert group of SECO forecast gross domestic product to grow 1.1 percent this year, unchanged from the previous projection. Likewise, growth outlook for 2024 was maintained at 1.5 percent.
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Euro Advances After ECB Decision

Euro Advances After ECB Decision

As expected, the European Central Bank raised its main refinancing rate by 25 basis points to 4 percent. Following the announcement, the euro climbed against its major opponents.
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Euro Mixed Ahead Of ECB Decision

Euro Mixed Ahead Of ECB Decision

The European Central Bank will announce interest rate decision at 8:15 am ET Thursday. The ECB is expected to raise the key refi rate by 25 basis points to 4 percent from 3.75 percent.
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Kroger Reaffirms FY23 Outlook - Update

Kroger Reaffirms FY23 Outlook - Update

While reporting financial results for the first quarter on Thursday, supermarket chain Kroger Co. (KR) reaffirmed its adjusted earnings and identical sales outlook for the full-year 2023. Identical sales growth for the first quarter, without fuel, increased 3.5 percent, with underlying growth of 5.0 percent.
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Bay Street Seen Opening Lower

Bay Street Seen Opening Lower

Canadian shares are likely to open weak on Thursday, tracking lower European stocks and bullion prices. The Federal Reserve's hawkish tone is also likely to weigh on sentiment.
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Australian Dollar Climbs On Upbeat Jobs Data

Australian Dollar Climbs On Upbeat Jobs Data

The Australian dollar strengthened against its major counterparts on Thursday, as strong jobs data out of country bolstered hopes for more interest rate hikes from the Reserve Bank of Australia.
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Hut 8 Mining To Combine With US Bitcoin In All-stock Merger Of Equals

Hut 8 Mining To Combine With US Bitcoin In All-stock Merger Of Equals

Digital asset miner Hut 8 Mining Corp. (HUT, HUT.TO) on Thursday agreed to a proposed business combination with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (USBTC) under which they will combine in an all-stock merger of equals.
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Sensex, Nifty Snap Three-day Winning Run

Sensex, Nifty Snap Three-day Winning Run

Indian shares ended lower on Thursday to snap a three-day winning streak after the U.S. Federal Reserve signaled that two more rate increases are on the way. The dollar traded higher and Treasury yields rebounded after the Federal Reserve held interest rates steady on Wednesday, as widely expected, but signaled that borrowing costs will likely rise by another half of a percentage point by the end of this year.
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China Cuts Policy Rate; Economic Data Disappoints

China Cuts Policy Rate; Economic Data Disappoints

China's central bank lowered its policy rate on Thursday after recent data suggested that the bounce back from the pandemic-related downturn seen at the start of the year proved to be temporary. Calling for more stimulus measures, official data released today showed that retail sales growth decelerated sharply reflecting weak domestic demand.
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European Shares Subdued Ahead Of ECB Rate Decision

European Shares Subdued Ahead Of ECB Rate Decision

European stocks traded lower on Thursday as a slew of Chinese data disappointed and the Federal Reserve signaled that two more rate increases are on the way.
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CAC 40 Declines On China Growth Concerns

CAC 40 Declines On China Growth Concerns

French stocks edged lower on Thursday, with hawkish signals from the U.S. Federal Reserve and disappointing Chinese data keeping investors nervous.
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