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Forex News
KOSPI May Reclaim 2,600-Point Level
The South Korea stock market on Thursday snapped the three-day losing streak in which it had retreated more than 40 points or 1.7 percent. The KOSPI now rests just above the 2,590-point plateau and it may add to its winnings on Friday.
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745 days ago
Japan Inflation Data Due On Friday
Japan will on Friday release May figures for national consumer prices, highlighting a modest day for Asia-Pacific economic activity.
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746 days ago
U.S. Dollar Moves Back To The Upside Amid Interest Rate Concerns
Following the pullback seen in the previous session, the value of the U.S. dollar has moved back to the upside during trading on Thursday.
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746 days ago
Swiss Market Ends Marginally Up
The Switzerland market bucked the negative trend seen across Europe, and managed to close marginally up on Thursday as stocks recovered gradually after a weak start and a subsequent long spell in negative territory.
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746 days ago
European Stocks Close Lower As Rate Hike Moves By Central Banks Weigh
European stocks closed lower on Thursday, weighed down by concerns about economic growth after the Bank of England and the Norges Bank raised interest rates by larger-than-expected 50 basis points, and the Swiss National Bank raised rates by 25 basis points.
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746 days ago
Bank Of England Surprises With 50 Bps Rate Hike
Persistence of inflation convinced Bank of England policymakers to act more aggressively and signaled more tightening even as higher interest rates hit mortgage holders hard and the surprise move raised market expectations regarding the level at which the UK bank rate would peak. The Monetary Policy Committee, led by Governor Andrew Bailey, decided to increase the bank rate.
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746 days ago
U.S. Leading Economic Index Declines For Fourteenth Straight Month In May
A reading on leading U.S. economic indicators decreased in line with economist estimates in the month of May, the Conference Board revealed in a report released on Thursday. The Conference Board said its leading economic index slid by 0.7 percent in May after falling by 0.6 percent. The continued slump matched expectations.
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746 days ago
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Pound Lower Despite Big BoE Rate Hike
The pound retreated against its major counterparts in the European session on Thursday, despite a larger-than-expected interest rate hike by the Bank of England.
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746 days ago
U.S. Existing Home Sales Unexpectedly Inch Higher In May
A report released by the National Association of Realtors on Thursday unexpectedly showed a modest increase in U.S. existing home sales in the month of May. NAR said existing home sales crept up by 0.2 percent to an annual rate of 4.30 million in May after tumbling by 3.2 percent to a revised rate of 4.29 million in April.
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746 days ago
Turkish Central Bank Takes U-Turn By Lifting Key Rate By 650 Bps To 15%
Turkey's central bank raised its key interest rate for the first time in more than two years on Thursday, and massively, in the first meeting chaired by its newly appointed chief with the aim of establishing disinflation immediately and anchoring the inflation target. The Monetary Policy Committee, headed by the new Governor Hafize Gaye Erkan, decided to hike the policy rate by 650 bps to 15%.
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746 days ago
U.S. Weekly Jobless Claims Remain At Highest Level Since October 2021
First-time claims for U.S. unemployment benefits were unchanged in the week ended June 17th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims came in at 264,000, unchanged from the previous week's revised level. Economists had expected jobless claims to edge down to 260,000 from the 262,000 originally reported for the previous week.
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746 days ago
Spirit AeroSystems To Suspend Factory Operations; Stock Down 9%
Aerostructure manufacturer Spirit AeroSystems Holdings, Inc. (SPR) announced on Thursday that it will suspend factory operations prior to contract expiry.
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746 days ago
Norges Bank Hints At Additional Tightening
Norway's central bank lifted the benchmark rate by a steeper-than-expected 50 basis points and hinted at another increase in August as higher wage growth and a weaker currency are set to push inflation higher in coming months. The Monetary Policy and Financial Stability Committee of Norges Bank decided to hike the policy rate to 3.75 percent from 3.25 percent.
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746 days ago
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