DAX Gains On Optimism About US Economy

RTTNews | 784 days ago
Stocktwits
DAX Gains On Optimism About US Economy

(RTTNews) - German stocks traded sharply higher on Wednesday as upbeat U.S. economic reports on key manufactured capital goods, new home sales and consumer confidence soothed concerns about an economic downturn.

Meanwhile, investors shrugged off the results of a key survey showing that German consumer confidence has fallen for the first time since October.

Pollster GfK said its forward-looking survey of around 2,000 people fell to minus 25.4 points in July from 24.4 points in June.

Market participants now await a panel discussion of central bankers in Sintra, including European Central Bank President Christine Lagarde, Federal Reserve Chair Jerome Powell, Bank of Japan Governor Kazuo Ueda and Bank of England's Andrew Bailey later in the day for further policy direction.

The benchmark DAX was up 131 points, or 0.8 percent, at 15,978 after rising 0.2 percent in the previous session.

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Australian Dollar Falls Amid RBA Rate Cut Speculation

Australian Dollar Falls Amid RBA Rate Cut Speculation

The Australian dollar weakened against other major currencies in the Asian session on Wednesday, as traders expect two or more rate cuts if inflation continues to decline as anticipated. Earlier this month, the Reserve Bank of Australia (RBA) lowered its cash rate to 3.60 percent from 3.85 percent, as widely expected.
RTTNews | 45 minutes ago
New Zealand Hints At More Interest Rate Cuts

New Zealand Hints At More Interest Rate Cuts

The Reserve Bank of New Zealand reduced its key interest rate by 25 basis points to a three-year low and hinted at further easing on Wednesday. The Monetary Policy Committee, governed by Christian Hawkesby, voted to lower the Official Cash Rate to 3 percent from 3.25 percent. The bank has reduced the rate by 250 basis points since August 2024.
RTTNews | 1h 0min ago
NZ Dollar Slides As RBNZ Cuts Rate By 25 Bps

NZ Dollar Slides As RBNZ Cuts Rate By 25 Bps

The New Zealand dollar weakened against other major currencies in the Asian session on Wednesday, after the Reserve Bank of New Zealand decided to cut its key interest rate by 25 basis points and signaled further easing.
RTTNews | 2h 21min ago
European Economic News Preview: UK Inflation Data Due

European Economic News Preview: UK Inflation Data Due

Consumer prices from the UK and the euro area due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the Office for National Statistics publishes UK consumer prices for July. Inflation is seen rising to 3.7 percent in July from 3.6 percent in the previous month.
RTTNews | 2h 42min ago
China Leaves Benchmark Interest Rate Unchanged

China Leaves Benchmark Interest Rate Unchanged

The People's Bank of China maintained its interest rates on Wednesday, as Beijing focus on fiscal policy easing and more targeted measures. The central bank left its one-year loan prime rate at 3.0 percent. Similarly, the five-year LPR, the benchmark for mortgage rates, was retained at 3.50 percent. The bank had reduced its both LPRs by quarter points in October 2024.
RTTNews | 2h 52min ago
Yen Rises Against Majors

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Wednesday.
RTTNews | 3h 41min ago
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