Dollar Extends Losses Against Major Counterparts

RTTNews | 384 dagar sedan
Dollar Extends Losses Against Major Counterparts

(RTTNews) - Despite data showing a bigger than expected increase in U.S. Producer Price Index, the U.S. dollar fell on Friday, extending recent losses, on rising prospects of an interest rate cut by the Federal Reserve amid signs of cooling consumer price inflation.

A report from the Labor Department said its producer price index for final demand rose by 0.2% in June following a revised unchanged reading in May. Economists had expected producer prices to inch up by 0.1% compared to the 0.2% dip originally reported for the previous month.

The report also said the annual rate of producer price growth accelerated to 2.6% in June from an upwardly revised 2.4% in May. The annual rate of producer price growth was expected to creep up to 2.3% from the 2.2% originally reported for the previous month.

The Labor Department's data on Wednesday said U.S. consumer price index slipped by 0.1% in June after coming in unchanged in May. Economists had expected consumer prices to inch up by 0.1%.

The report also said the annual rate of consumer price growth slowed to 3% in June from 3.3% in May. Economists had expected the pace of price growth to decelerate to 3.1%. The annual rate of core consumer price growth also slowed to 3.3% in June from 3.4% in May. The pace of growth was expected to remain unchanged.

The dollar index dropped to 104.04, down nearly 0.4% from the previous close.

Against the Euro, the dollar weakened to 1.0909 from 1.0869, and against Pound Sterling, it fell more than 0.5% to 1.2986.

The dollar was down against the Japanese currency at 157.91 yen. The Aussie firmed against the U.S. dollar, fetching 0.6784 a unit.

Against Swiss franc, the dollar weakened to CHF 0.8944. The Loonie edged down marginally to 1.3637 a unit of the American currency.

read more
Swiss Market Ends Moderately Lower

Swiss Market Ends Moderately Lower

Despite a decent spell in positive territory till about an hour before noon, the Switzerland market turned weak and kept drifting lower as the session progressed on Thursday to eventually settle with a moderate loss.
RTTNews | 1h 59minuter sedan
European Stocks Close Mostly Weak As Investors React To Earnings

European Stocks Close Mostly Weak As Investors React To Earnings

European markets closed mostly lower on Thursday as investors reacted to a slew of earnings announcements and digested the latest batch of economic data from the region, and also followed the developments on the trade front.
RTTNews | 2h 30minuter sedan
U.S. Consumer Price Growth Matches Estimates In June

U.S. Consumer Price Growth Matches Estimates In June

A closely watched report released by the Commerce Department on Thursday showed consumer prices in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.3 percent in June after inching up by an upwardly revised 0.2 percent in May.
RTTNews | 5h 18minuter sedan
German Unemployment Rises In July

German Unemployment Rises In July

Germany's unemployment increased less than expected in July but the overall number of people out of work remained close to the 3 million mark due to the prolonged period of economic slowdown, official data revealed on Thursday. The number of unemployed rose by less-than-expected 2,000 from June, the Federal Employment Agency said. For July, economists had forecast an increase of 15,000.
RTTNews | 6h 1minuter sedan
U.S. Jobless Claims Inch Up Less Than Expected To 218,000

U.S. Jobless Claims Inch Up Less Than Expected To 218,000

First-time claims for U.S. unemployment benefits edged slightly higher in the week ended July 26th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims crept up to 218,000, an increase of 1,000 from the previous week's unrevised level of 217,000. Economists had expected jobless claims to rise to 224,000.
RTTNews | 6h 8minuter sedan
Bay Street Looks Headed For Positive Start

Bay Street Looks Headed For Positive Start

Canadian shares look headed for a positive start Thursday morning, with investor sentiment getting a boost thanks to strong results from US tech majors Meta Platforms and Microsoft.
RTTNews | 6h 56minuter sedan