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International146d ago

March US Durable Goods Orders Ex-Transportation Rise 0.9% Vs. 0.4% Gain Expected, Prior 1.2% Gain

International146d ago

March US Durable Goods New Orders Rise 0.8% Vs. 0.5% Gain Expected; Prior 1.2% Decline

International146d ago

March US Building Permits 1.372 Million Rate Vs. Expected 1.39 Million, Prior 1.538 Million

International146d ago

March US Housing Starts 1.502 Million Rate Vs. Expected 1.38 Million, Prior 1.356 Million

International146d ago

German Flash Annual Inflation Rises to 2.9% in April

Germany's annual inflation rate rose to 2.9% in April from 2.7% in March, according to provisional data from the country's Federal Statistical Office published Wednesday.The latest reading is below the consensus estimate of 3%.On a monthly basis, consumer prices were 0.6% higher, against the previous 1.1% increase and the expected 0.7% rise.The annual harmonized inflation rate was 2.9%, compared with the prior 2.8% and the market forecast of 3.1%. Meanwhile, harmonized consumer prices were up 0.5% month over month, against the previous reading of a 1.2% gain and the expected 0.8% rise.

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International146d ago

Oil Outlook Damps European Bourses Midday

European bourses tracked moderately lower midday Wednesday as traders weighed still-rising oil prices amid an apparent stalemate regarding the opening of the Strait of Hormuz.Front-month North Sea Brent crude-oil futures were up 2.9% at $107.47 a barrel.Oil and tech stocks led gains on continental trading floors, while food and property shares lagged.UBS shares were up 5.4% midday after the company reported higher Q1 earnings and revenue.Investors also eyed Wall Street futures inching into the green amid uneven gains overnight on Asian exchanges.In economic news, the consumer confidence for the euro area declined to a negative 20.6 in April from a negative 16.4 in March, the European Commission reported. In the broader European Union, the index dropped to negative 19.4 from negative 15.4.The pan-continental Stoxx Europe 600 Index was off 0.3% mid-session.The Stoxx Europe 600 Technology Index was up 0.7%, and the Stoxx 600 Banks Index was flat.The Stoxx Europe 600 Oil and Gas Index advanced 0.7%, while the Stoxx 600 Europe Food and Beverage Index declined 0.7%.The REITE, a European REIT index, fell 1.2%.On the national market indexes, Germany's DAX was down 0.2%, and the FTSE 100 in London lost 0.8%. The CAC 40 in Paris was down 0.6%, and Spain's IBEX 35 eased 0.6%.Yields on benchmark 10-year German bonds were higher, near 3.07%.The Euro Stoxx 50 volatility index was down 0.6% at 23.62, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

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International146d ago

US Dollar Rises Early Wednesday Ahead of Busy Data Schedule, FOMC Meeting

The US dollar rose against its major trading partners early Wednesday, except for a decline versus the Canadian dollar, ahead of a series of economic releases in the morning and the Federal Open Market Committee policy statement in the afternoon.Durable goods orders, housing starts, and advance trade data, all for March, are due to be released at 8:30 am ET.Weekly petroleum stocks data are due to be released at 10:30 am ET, and the Atlanta Federal Reserve is expected to update its GDP nowcast estimate around midday.The FOMC is expected to hold its target rate steady in its post-meeting statement at 2:00 pm ET, followed by Fed Chairman Jerome Powell's press conference at 2:30 pm ET. The CME FedWatch shows a 100% chance of no rate change being priced into the markets.Earlier Wednesday, the Mortgage Bankers Association reported that mortgage applications declined in the week ending April 24 after a large increase in the previous week, as mortgage rates rose slightly.A quick summary of foreign exchange activity heading into Wednesday:EUR/USD fell to 1.1705 from 1.1710 at the Tuesday US close but was above a level of 1.1694 at the same time Thursday morning. Eurozone consumer confidence and business sentiment both declined in April, while the Eurozone money supply expanded in March, according to data released earlier Wednesday. The next European Central Bank meeting is scheduled for Thursday, when no change in the target rate is expected.GBP/USD fell to 1.3510 from 1.3516 at the Tuesday US close but was above a level of 1.3484 at the same time Tuesday morning. There are no UK data on Wednesday's schedule. The next Bank of England meeting is scheduled for Thursday, when no change in the target rate is expected.USD/JPY rose to 159.7876 from 159.6661 at the Tuesday US close and 159.6369 at the same time Tuesday morning. There were no Japanese data released overnight. The next Bank of Japan meeting is scheduled for June 15-16.USD/CAD fell to 1.3681 from 1.3687 at the Tuesday US close but was above a level of 1.3662 at the same time Tuesday morning. The Bank of Canada is expected to maintain its target rate in its announcement at 9:45 am ET. There are no Canadian data on Wednesday's schedule.

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International146d ago

Tech Optimism Lifts Wall Street Pre-Bell; Asia Mixed, Europe Off

Wall Street futures pointed modestly higher pre-bell Wednesday after a strong Seagate Technology (STX) earnings report, released overnight, signaled AI demand boom for data storage tech continues.In the futures, the S&P 500 rose 0.1%, the Nasdaq inclined 0.3% and the Dow Jones was marginally up.Seagate Technology shares traded up 17.6% pre-bell after the data storage device maker reported better-than-expected fiscal Q3 non-GAAP EPS and revenue, and issued upbeat guidance late Tuesday.Peer data storage enterprises also gained pre-bell, including Western Digital (WDC), up 10.7%, and SanDisk (SNDK), up 7.3%.Tech titans Alphabet (GOOG, GOOGL), Microsoft (MSFT), Amazon.com (AMZN) and Meta Platforms (META) are slated to report earnings after-bell.Traders also await the 2 pm ET rate announcement from the Federal Reserve, although the CME Group Fedwatch tool predicts a 100% chance the central bank will hold steady. Chair Jerome Powell's 2:30 pm press conference will be parsed for clues to Fed mood.Asian exchanges were mixed overnight, with Seoul's KOSPI Index striking a fresh all-time zenith. European bourses edged lower midday on the continent.On the economic calendar at 8:30 am ET is the durable goods orders bulletin for March, the housing starts and building permits bulletins for March, the international trade in goods release for March, and the retail and wholesale inventories reports for March.The weekly EIA petroleum status report posts at 10:30 am.The Atlanta Federal Reserve Survey of Business Uncertainty for April logs at 11 am.In premarket action, Bitcoin traded at $77,846, West Texas Intermediate crude oil traded up 3.5% at $103.40, and 10-year US Treasuries offered 4.36%. Spot gold commanded $4,567 an ounce.

Dow JonesNasdaq CompositeS&P 500$AMZN$GOOG$META$MSFT$STX

International146d ago

MBA US Mortgage Applications Fall in Week Ended April 24; Mortgage Rates Slightly Higher

Mortgage applications fell by 1.6% in the week ended April 24 after a 7.9% gain in the previous week, with average 30-year fixed mortgage rates slightly higher, according to Mortgage Bankers Association data released Wednesday.Applications for refinancing loans fell by 4%, while new purchase applications rose by a seasonally adjusted 1%.The average contract interest rate for 30-year fixed mortgages with loan balances of $832,750 or less rose to 6.37% from 6.35% in the previous week."After a brief pause, in part because of the elevated geopolitical uncertainties, potential homebuyers certainly appear to be moving forward this spring and taking advantage of the more favorable inventory conditions in most parts of the country," said Mike Fratantoni, MBA's senior vice president and chief economist.

International146d ago

MBA US Mortgage Applications Fall 1.6% in Week Ended April 24 After 7.9% Increase in Prior Week

International146d ago

CRIF: Taiwan's Exports Expected to Hit About $861 Billion in 2026

Taiwan's exports are projected to surge to as high as $860.6 billion in 2026, driven by strong AI-related demand, according to CRIF estimates released Tuesday.The outlook comes after exports reached a record $195.74 billion in the first quarter, soaring 51.1% from the same period a year earlier, and far exceeding earlier government forecasts.March shipments alone hit an all-time high of $80.18 billion, up 61.8% annually. This marks the first time monthly exports surpassed the $80 billion threshold.Growth was mainly powered by electronics, with semiconductor-related components and ICT products posting exceptional gains, while traditional sectors such as textiles and metals continued to lag.ICT and audiovisual exports more than doubled in the first quarter, while electronic components rose 42.7%, driven by high AI demand.CRIF said that despite global uncertainties, including weaker global trade forecasts, Taiwan's export momentum is expected to remain resilient on continued technology sector strength.

Taiwan Weighted

International146d ago

Property, Tech Sectors Undergird Asian Stock Markets

Asian stock markets somewhat shrugged off Middle East turmoil, with tech shares rising on earnings outlooks, and China property issues gaining after a Beijing report indicated the struggling sector may be firming.Exchanges in Japan were closed on holiday.Hong Kong and Shanghai finished in the green, while other regional exchanges were uneven.In Hong Kong, the Hang Seng Index opened higher and rose to the close, finishing up 1.7% in a property-sector-led rally.The broad gauge Hang Seng rose 432.06 to 26,111.84, as gaining issues outnumbered losers 77 to 13. The Hang Seng TECH Index gained 1.7% on the day, while the Mainland Properties Index rose 4.5%.Leading the upside was China Overseas Land, gaining 8.9%, while pork purveyor WH Group declined 5.8%.On the mainland, the Shanghai Composite rose 0.7% to 4,107.51.In economic news, China's housing markets are showing signs of recovery, with transaction volumes in major cities rising in March and price declines shrinking, "indicating a gradual return of buyer confidence and improving market liquidity," reported the official State Council Information Office.On the other regional exchanges, the S. Korean KOSPI rose 0.8%; the Taiwan TWSE declined 0.5%; the Australian ASX 200 declined 0.3%; the Singapore Straits Times Index fell 0.6%, and the Thai Set inclined 0.8%. In late trading in Mumbai, the Sensex was up 0.8%.MSCI All Country Asia Pacific Index rose 0.1%.

Hang SengNikkei 225Shanghai Composite

International146d ago

Ifo: German Employment Barometer Deteriorates in April

More German businesses are planning layoffs instead of additions to their staff in April owing to geopolitical uncertainty, ifo Institute said Wednesday.The ifo employment barometer dropped monthly to 91.3 points from 93.4 points, the lowest level since May 2020.Hardly any industry sector remains unaffected by job cuts, the institute said, noting that wholesale and retail companies are also downsizing. Meanwhile, the indicator for service businesses plunged to its lowest level since the start of the COVID-19 pandemic.

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International146d ago

Euro Area Economic Sentiment Down in April; Consumer Confidence Falls

Economic sentiment in the euro area declined in April, with the indicator down to 93 points from a revised 96.2 points a month ago, according to European Commission data published Wednesday.The latest reading is below the consensus estimate of 95.2 points.Meanwhile, the consumer confidence index was confirmed at -20.6 points, in line with the flash estimate, against the previous -16.4 points.

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International146d ago

China's Transport Investment Hits 330 Billion Yuan in Q1

China poured 330 billion yuan into major transport projects in the first three months of 2026, according to the Ministry of Transport.Over 1,800 highway and waterway projects, each exceeding 100 million yuan, are being accelerated.Q1 also saw the launch of 174 major initiatives, injecting an additional 16 billion yuan.

Shanghai Composite^SZSE

International146d ago

Italian Business Confidence Falls in April; Consumer Sentiment Down

Italy's business confidence index fell to 95.2 points in April from 97.3 points in March, according to data from statistics agency Istat published Wednesday.For the manufacturing sector, the confidence index declined to 87.9 points in April from the revised 88.7 points previously. The consensus estimate stood at 88 points.Meanwhile, Italian consumer confidence was 90.8 points, against the prior 92.6 points and the expected 91.2 points.

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International146d ago

Euro Area Loans to Companies Rise in March; Household Lending Growth Stable

The euro area's adjusted loans to nonfinancial corporations increased 3.2% year over year in March, following a revised 3% rise a month ago, according to data from the European Central Bank published Wednesday.Meanwhile, the growth rate for adjusted loans to households came in at 3%, in line with the previous month and against the expected 3.1%.

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International146d ago

Swiss Economic Sentiment Index Improves in April

Switzerland's economic sentiment index increased to -30.3 points in April from -35 points in March, according to data from UBS & CFA Society Switzerland published Wednesday.

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International146d ago

Eurozone's Annual M3 Money Supply Up 3.2% in March

The euro area's M3 money supply rose 3.2% year over year in March, following a 3% increase in February, the European Central Bank said Wednesday.Analysts expected 3.1% growth for the month.

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International146d ago

South Korea's Deposit Rates Decline in March

South Korea's bank deposit rates declined in March while borrowing costs also continued to decrease, the Bank of Korea said Tuesday.The average interest rate on new deposits fell one basis point to 2.82% from the previous month, while rates on outstanding deposits also shed one basis point to 2%.New loan rates declined six basis points from the previous month to 4.20%, and the average rate on outstanding loans was unchanged at 4.27% at the end of March.

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International146d ago

US Dollar Rises Early Wednesday Ahead of Busy Data Schedule, FOMC Meeting

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