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Dollar Rises Against Major Counterparts After Hot Inflation Data
The U.S. dollar gained against its major counterparts on Friday, lifted by data showing a larger than expected increase in the nation's annual rate of consumer price growth. Data from the Commerce Department showed the annual rate of consumer price growth accelerated to 2.7% in March from 2.5% in Fe
U.S. Dollar Higher Following Strong PCE Inflation Data
The U.S. dollar moved up against its major counterparts in the New York session on Friday, as the Federal Reserve's preferred measure of inflation, the personal consumption expenditures price index, exceeded expectations on an annual basis in March. Data from the Commerce Department showed that the
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European Stocks Close On Strong Note As Investors Cheer Earnings Updates
European stocks closed on a firm note on Friday with investors cheering a slew of strong earnings updates from U.S. big names Alphabet and Microsoft, and a few European companies, and shrugging of interest rate concerns for now. The pan European Stoxx 600 climbed 1.11%. The U.K.'s FTSE 100 gained 0.
Eurozone Consumers' 12-Month Inflation Expectations Lowest Since Dec 2021 - ECB
Euro area consumers' inflation expectations for the next 12 months hit their lowest since December 2021, results of a monthly survey by the European Central Bank showed Friday. Median expectations for inflation over the next 12 months eased to 3.0 percent from 3.1 percent in February, the ECB Consum
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Spending surges in spite of inflation
Summary Despite real income growth being strong, real spending is stronger, forcing consumers to dip into savings. In the short run, that's problematic as it keeps pressure on inflation, particularly services prices. But the reach is not sustainable indefinitely amid mounting personal interest expen
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European Shares See Cautious Gains Ahead Of US Core PCE Reading
European stocks were seeing modest gains in cautious trade on Friday after U.S. tech giants Microsoft and Alphabet posted strong quarterly earnings and an ECB survey showed Euro zone consumers lowered their expectation for inflation over the next 12 months in March. Meanwhile, France's consumer conf
FTSE 100 Rises As Consumer Sentiment Strengthens In April
U.K. stocks traded higher on Friday after a monthly survey conducted by the market research group GfK revealed that British consumer sentiment improved in April on slowing inflation as well as expectations about further tax cuts. The consumer confidence index rose to -19 in April from -21 in March.
CAC 40 Gains Amid Earnings Deluge
French stocks rose on Friday, though overall gains remained capped ahead of the release of the Federal Reserve's preferred inflation measure due later in the day. Meanwhile, France's consumer confidence unexpectedly decreased in April, monthly survey data from the statistical office INSEE showed ear
WHO Reports Widespread Overuse Of Antibiotics In Patients During Covid
New evidence from the World Health Organization shows the extensive overuse of antibiotics during Covid-19 pandemic worldwide, which may have exacerbated silent spread of antimicrobial resistance (AMR). While only 8 percent of hospitalized patients with Covid-19 had bacterial co-infections requiring
Markets Brace For PCE-data, Earnings Updates
Following softer-than-expected GDP data, markets are looking forward to the PCE-data due on Friday morning for further cues on the Fed's monetary policy outlook. Upbeat corporate earning updates are supporting market sentiment. Wall Street Futures are trading higher. European benchmarks also rallied
Austria Manufacturing Downturn Continues In April
Austria's manufacturing activity deteriorated further in April, though the pace of decline softened amid slower falls in output and new orders, data produced by S&P Global showed on Friday. The UniCredit Bank Austria Manufacturing Purchasing Managers' Index stood at 43.5 in April, up from 42.2 i
Russia Central Bank Keeps Key Rate Unchanged
Russia's central bank left its key interest rates unchanged for the third consecutive meeting on Friday but cautioned about upside risks to inflation. The board of directors of the Bank of Russia, headed by Governor Elvira Nabiullina, decided to hold the key rate at 16.00 percent. As domestic demand
Eurozone Private Sector Credit Growth Remains Weak
Eurozone private sector credit continued to increase in March but the pace of recovery remained weak, data from the European Central Bank showed Friday. Claims on the private sector gained 0.8 percent on a yearly basis, which was slightly faster than the 0.7 percent increase in February. The adjuste
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