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BoE's Pill Says Cutting Bank Rate Remains Some Way Off
Bank of England Chief Economist Huw Pill said on Friday that an interest rate cut from the U.K. central bank was not imminent. "...in my baseline scenario the time for cutting Bank Rate remains some way off," Pill said in a speech in Cardiff.
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544 days ago
Kansas City Fed Services Activity Index Jumps Into Positive Territory In February
Service sector activity in the middle of the U.S. saw a notable turnaround in the month of February, according to a report released by the Federal Reserve Bank of Kansas City on Friday.
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544 days ago
U.S. Manufacturing Activity Unexpectedly Contracts At Faster Rate In February
Manufacturing activity in the U.S. unexpectedly contracted at an accelerated rate in the month of February, according to a report released by the Institute for Supply Management on Friday. The ISM said its manufacturing PMI dipped to 47.8 in February from 49.1 in January, with a reading below 50 indicating contraction. Economists had expected the index to inch up to 49.5.
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544 days ago
U.S. Consumer Sentiment Index For February Unexpectedly Downwardly Revised
Consumer sentiment in the U.S. unexpectedly deteriorated in the month of February, according to revised data released by the University of Michigan on Friday.
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544 days ago
U.S. Dollar Eases After Economic Data
At 10 am ET Friday, ISM manufacturing PMI, U.S. construction spending and University of Michigan's final consumer sentiment index have been released. After the data, the greenback pulled back against its major counterparts.
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544 days ago
U.S. Construction Spending Unexpectedly Dips 0.2% In January
A report released by the Commerce Department on Friday unexpectedly showed a modest decrease in U.S. construction spending in the month of January.
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544 days ago
U.S. Manufacturing Index Unexpectedly Dips To 47.8 In February
Manufacturing activity in the U.S. unexpectedly contracted at an accelerated rate in the month of February, according to a report released by the Institute for Supply Management on Friday.
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544 days ago
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Canadian Market In Positive Territory As Investors React To Earnings
The Canadian market got off to a slightly positive start and moved further up in early trades Friday morning thanks to gains in energy and technology stocks. Optimism about an interest rate cut by the Federal Reserve in June, and higher crude oil and gold prices are aiding sentiment.
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544 days ago
Hyundai Motor America February Total Sales Up 6%
Hyundai Motor America reported Friday that it sold a total of 69,341 units in the month of February, up 6 percent from last year's 57,044 units, driven by best ever February total sales record for Tucson, Tucson HEV, Tucson PHEV, Kona EV and Palisade.
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544 days ago
Competition Bureau Canada Expands Probe Into Google's Advertising Practices
Competition Bureau Canada announced Friday that the court has allowed it to expand its ongoing investigations into the online advertising practices of Alphabet Inc.'s Google in Canada. The Bureau has been investigating Google since October 2021 on whether the search giant engaged in certain practices that harm competition in the online display advertising industry in Canada.
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544 days ago
NaaS Technology Partners Geely Auto To Provide Enhanced EV Charging Services
NaaS Technology, Inc. (NAAS), the first US listed EV charging service company in China, announced Friday a partnership with Geely Holding Group Automobile Sales Co., Ltd., whereby the two parties will, through cooperation in connectivity of charging facilities, station data, payment service and plug and charge, facilitate Geely Auto to further improve charging service network and ease charging of Geely EVs.
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544 days ago
Bay Street Seen Opening Higher On Firm Commodity Prices
The Canadian market is likely to open with a positive bias Friday morning thanks to higher crude oil and bullion prices. Once again, activity is likely to remain stock specific as investors are likely to react to a slew of earnings updates from Canadian companies.
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544 days ago
Eurozone Inflation Impedes Prospects Of Early Rate Cut
Eurozone inflation softened to a three-month low in February, while underlying price pressures remained high, strengthening the chances of the European Central Bank delaying its first interest rate cut. The harmonized index of consumer prices, or HICP, rose 2.6 percent annually after rising 2.8 percent in January, flash data from Eurostat showed on Friday.
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544 days ago
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