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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South Korea Interest Rate Decision Due On Thursday
The Bank of Korea will wrap up its monetary policy meeting and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The BoK is expected to keep its benchmark lending rate unchanged at 3.25 percent.
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U.S. Dollar Slumps Amid Lingering Worries About Trump Tariffs
Following the rebound seen during trading on Tuesday, the value of the U.S. dollar is extending Monday's slump during trading on Wednesday.
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6h 27minuter sedan
Swiss Stock Market Ticks Higher On Wednesday
The Swiss stock market spent most of Wednesday's trade under water before a late rally nudged it up into positive territory going into the close.
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Swiss Franc Declines Against Most Majors
The Swiss franc weakened against its most major counterparts in the New York session on Wednesday.
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European Markets Finish Mixed On Tuesday
The major European markets saw late support to finish mixed on Tuesday, shaking off early weakness as investors fretted about potential inflationary pressures arising from U.S. President-elect Donald Trump's proposed tariff policies.
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9h 33minuter sedan
Pound Climbs Against Majors
The pound firmed against its major counterparts in the New York session on Wednesday.
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U.S. Pending Home Sales Unexpectedly Increase In October
The National Association of Realtors released a report on Wednesday unexpectedly showing a continued increase by U.S. pending home sales in the month of October. NAR said its pending home sales index jumped by 2.0 percent to 77.4 in October after soaring by 7.5 percent to an upwardly revised 75.9 in September. Economists had expected pending home sales to pull back by 1.3 percent.
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11h 54minuter sedan
U.S. Consumer Price Growth Matches Estimates In October
A closely watched report released by the Commerce Department on Wednesday showed consumer prices in the U.S. increased in line with expectations in the month of October. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in October, matching the uptick seen in September as well as economist estimates.
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