DAX Drifts Lower Ahead Of ECB Rate Decision
(RTTNews) - German stocks were moving lower on Wednesday and the euro was down for a third day in a row as investors await Thursday's ECB meeting for directional cues.
Markets currently eye two more rate cuts from the euro area's central bank this year amid a weak growth outlook and lower inflation.
The benchmark DAX slipped 0.2 percent to 19,451 after closing 0.1 percent lower the previous day.
Earnings remained in focus, with sportswear giant Adidas tumbling 3.6 percent despite raising its full-year sales and profit guidance.
Dragerwerk declined 3.1 percent. The breathing equipment maker for industries and hospitals registered a decline in preliminary earnings before interest and taxes for the third quarter, reflecting a drop in sales.
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Dollar Mostly Subdued Against Major Counterparts Amid Rate Cut Bets
The U.S. dollar turned in a weak performance on Thursday, weighed down by dovish remarks from Federal Reserve Governor Waller that suggested.
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5h 5min ago
TSX Closes Higher For 3rd Straight Day
Canadian stocks closed higher on Thursday, extending gains to a third straight session, with investors shifting their focus to earnings updates and expecting a couple of rate cuts by the Federal Reserve this year.
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5h 33min ago
Swiss Market Ends On Buoyant Note
The Switzerland market closed on a buoyant note on Thursday after holding firm start to finish thanks to sustained buying at several counters after recent data from U.S. raised hopes of some interest rate cuts by the Federal Reserve this year.
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7h 49min ago
U.S. Dollar Drops After Fed Waller's Comments
The U.S. dollar fell against its major counterparts in the New York session on Thursday, following dovish comments from Federal Reserve Governor Christopher Waller.
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8h 16min ago
European Stocks Close Higher On Some Positive Data, Rate Cut Hopes
European stocks closed on a positive note on Thursday with several major markets in the region rising to multi-month highs or new record highs, as some upbeat earnings updates, and encouraging European and U.S. economic data aided sentiment.
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8h 40min ago
ECB Minutes Show Policymakers Saw Room For More Easing
European Central Bank policymakers were looking forward to more interest rate cuts, but they saw the need for a cautious approach due to several uncertainties that could derail inflation from its path to the 2 percent target, the minutes of the December 11-12 policy session showed on Thursday.
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9h 51min ago
U.S. Housing Market Index Unexpectedly Inches Up To Nine-Month High In January
Reflecting hopes for an improved economic growth and regulatory environment, the National Association of Home Builders released a report on Thursday unexpectedly showing a modest improvement by U.S. homebuilder confidence in the month of January. The report said the NAHB/Wells Fargo Housing Market Index crept up to 47 in January from 46 in December.
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11h 55min ago
Philly Fed Index Skyrockets To Highest Level Since April 2021
The Federal Reserve Bank of Philadelphia released a report on Thursday showing a substantial turnaround by regional manufacturing activity in the month of January. The Philly Fed said its diffusion index for current general activity skyrocketed to a positive 44.3 in January from a negative 10.9 in December, with a positive reading indicating growth.
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12h 10min ago
