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15.05.2021

PNC Financial Services Gets Regulatory Approval For Acquisition Of BBVA USA

WASHINGTON (dpa-AFX) - PNC Financial Services Group, Inc. (PNC) said it received regulatory approval from the Board of Governors of the Federal Reserve System and the Office of the Comptroller of the Currency, and added 'no further regulatory approvals are required to complete the acquisition and merger of PNC Bank and BBVA USA.'In November, The PNC Financial Services agreed to acquire BBVA USA Bancshares, Inc., including its U.S. banking subsidiary, BBVA USA, for $11.6 billion. The company also specified that the regulatory approval process also included approvals from the banking departments of the states of Alabama and Texas.The acquisition is anticipated to close June 1, 2021. Upon closing, PNC said it will be the fifth largest U.S. commercial bank with over $560 billion in assets.Copyright RTT News/dpa-AFX
15.05.2021

Leisure Time Products Recalls Brutus Swing Sets

WASHINGTON (dpa-AFX) - Leisure Time Products have recalled about 9,000 Brutus Swing sets due to injury risk.The company has recalled Backyard Discovery Big Brutus, Little Brutus and Mini Brutus metal A-frame swing sets. According to the company, the attachment that connects the swing hanger to the top tube can fail, posing an injury hazard.Leisure Time Products has received three reports of the swing hanger attachment failing, which resulted in one side of the swing falling. No injuries have been reported.The company has asked customers to immediately stop using the recalled swing sets and contact Leisure Time Products for a free repair kit.The recalled products were sold online at from May 2019 through January 2021 for between $400 to $570, depending on the model.Copyright RTT News/dpa-AFX
14.05.2021

Scentsational Soaps & Candles Expands Recall Of Scented Hand Sanitizers

WASHINGTON (dpa-AFX) - Scentsational Soaps & Candles Inc. have expanded recall of scented hand sanitizers to include three lots of Goose Creek hand sanitizer and one lot of Coco TKO hand sanitizer.The company said it has recalled the products based on a testing that revealed the presence of methanol, benzene, and acetaldehyde. These products were sold online and distributed in the U.S. by Goose Creek Candles and Coconut Stand.Substantial methanol exposure can result in nausea, vomiting, headache, blurred vision, permanent blindness, seizures, coma, permanent damage to the nervous system, or death. Young children who accidentally ingest the products and adolescents and adults who drink the products as an alcohol substitute are most at risk for methanol poisoning. The company said it has not received any reports of adverse reactions related to this recall.'We have discontinued all hand sanitizer production,' said Steve Morrison of Scentsational Soaps & Candles, Inc. 'We work hard every day to carefully procure the highest quality ingredients, and we sincerely regret any inconvenience this recall may cause.'Copyright RTT News/dpa-AFX
14.05.2021

EARNINGS SUMMARY: Details of China Pharma Holdings Inc. Q1 Earnings Report

BEIJING (dpa-AFX) - Below are the earnings highlights for China Pharma Holdings Inc. (CPHI):-Earnings: -$0.84 million in Q1 vs. -$0.86 million in the same period last year. -EPS: -$0.02 in Q1 vs. -$0.02 in the same period last year. -Revenue: $2.35 million in Q1 vs. $1.76 million in the same period last year.Copyright RTT News/dpa-AFX
14.05.2021

EARNINGS SUMMARY: Details Of Protalix BioTherapeutics Inc. Q1 Earnings Report

WASHINGTON (dpa-AFX) - Below are the earnings highlights for Protalix BioTherapeutics Inc. (PLX):-Earnings: -$5.47 million in Q1 vs. $1.66 million in the same period last year. -EPS: -$0.14 in Q1 vs. $0.10 in the same period last year. -Analysts projected -$0.17 per share -Revenue: $11.32 million in Q1 vs. $21.64 million in the same period last year.Copyright RTT News/dpa-AFX
14.05.2021

EARNINGS SUMMARY: Details of Protalix BioTherapeutics Inc. Q1 Earnings Report

JERUSALEM (dpa-AFX) - Below are the earnings highlights for Protalix BioTherapeutics Inc. (PLX):-Earnings: -$5.47 million in Q1 vs. $1.66 million in the same period last year. -EPS: -$0.14 in Q1 vs. $0.10 in the same period last year. -Analysts projected -$0.17 per share -Revenue: $11.32 million in Q1 vs. $21.64 million in the same period last year.Copyright RTT News/dpa-AFX
14.05.2021

Sysco Rolls Out Two New Online Toolkits For Its Foodie Solutions Platform

WASHINGTON (dpa-AFX) - Foodservice distribution company Sysco Corp. (SYY) announced Friday that it has launched two new online toolkits to its Foodie Solutions platform to enable restaurants ramp up to meet the surging demand as summer approaches.The new toolkits are the latest in a series of carefully curated tools to help foodservice operators succeed while generating additional revenue and meeting consumer expectations.The Labor & Hiring Toolkit provides a comprehensive resource for hiring, training and retaining restaurant employees, including tips such as taking action on employee feedback and offering incentives to improve retention.Meanwhile, the Summer Toolkit offers creative ideas to prepare for the summer rush and welcome guests back safely.Copyright RTT News/dpa-AFX
14.05.2021

Cisco Systems Intents To Acquire Privately-Held Kenna Security

SAN FRANCISCO (dpa-AFX) - Networking-equipment maker Cisco Systems Inc. (CSCO) announced Friday that it intents to acquire privately-held cybersecurity firm Kenna Security, Inc. to advance its commitment to radically simplify security and help customers improve their security posture. Terms of the proposed deal were not disclosed. Santa Clara, California-based Kenna's risk-based vulnerability management technology enables organizations to work cross-functionally to rapidly identify, prioritize and remediate cyber risks.Kenna Security uses machine learning (ML) and data science to track and predict real-world exploitations, empowering security teams to manage the ever-evolving threat landscape.Combining the Cisco SecureX platform's industry leading threat intelligence with Kenna Security's vulnerability management capabilities will help customers find threats faster, improve collaboration between security and IT teams and ultimately reduce the attack surface.The acquisition, expected to close in Cisco's fourth quarter of fiscal 2021, will transform the way security and IT teams collaborate to reduce the attack surface and the time it takes to detect and respond.Copyright RTT News/dpa-AFX
14.05.2021

SNC-Lavalin Group Q1 Results To Estimates

WASHINGTON (dpa-AFX) - SNC-Lavalin Group Inc. (SNC.TO) reported a first-quarter net income attributable to shareholders of C$73.05 million, compared to a net loss of C$65.96 million in the prior-year quarter.Net income from continuing operations was C$67.74 million or C$0.39 per share, sharply higher than C$1.0 million or C$0.01 per share in the year-ago quarter. Adjusted net income was C$0.51 per share, compared to last year's C$0.52 per share. Total revenues for the quarter edged down to C$1.82 billion from C$1.87 billion in the same quarter last year.On average, analysts polled by Thomson Reuters expected the company to report earnings of C$0.37 per share on revenues of C$1.74 billion for the quarter. Analysts' estimates typically exclude special items.The company's Board of Directors also declared a cash dividend of $0.02 per share, unchanged from the previous quarter, payable on June 11, 2021, to shareholders of record on May 28, 2021.Looking ahead to fiscal 2021, the company continues to expect SNCL Engineering Services revenue to grow by a low single digit percentage from last year and segment adjusted EBIT as a percentage of revenue of 8 to 10 percent.Copyright RTT News/dpa-AFX
14.05.2021

General Mills To Buy Tyson Foods' Pet Treats Business For $1.2 Bln In Cash

WASHINGTON (dpa-AFX) - General Mills Inc. (GIS) agreed to buy Tyson Foods' (TSN) pet treats business for $1.2 billion in cash, the companies said in a statement on Friday. The transaction includes the Nudges, Top Chews and True Chews brands.General Mills noted that the transaction provides an estimated tax benefit of $225 million, equating to an effective purchase price of $975 million.Tyson Foods' pet treats business and the about 300 team members involved in it will become part of General Mills after the sale is completed. Tyson Foods' pet treats portfolio generated more than $240 million in net sales in the 12 months ended April 3, 2021. As part of the deal, General Mills will also acquire a manufacturing facility in Independence, Iowa.General Mills plans to fund the acquisition with cash on hand and short-term borrowing. The transaction is expected to be modestly accretive to General Mills earnings in the first 12 months following completion, excluding transaction and integration expenses. The company expects the transaction to close in the first quarter of fiscal 2022.In Friday pre-market trade, GIS was trading at $64.48 up $0.50 or 0.78%. TSN was trading at $80.76 up $0.20 or 0.25%.Copyright RTT News/dpa-AFX
14.05.2021

U.S. Stocks Rally But Still Close Notably Lower For The Week

WASHINGTON (dpa-AFX) - Stocks showed a strong move to the upside during trading on Friday, extending the rebound seen in the previous session. The major averages all climbed firmly into positive territory, with the tech-heavy Nasdaq showing a particularly strong advance.The major averages ended the session near their best levels of the day. The Dow jumped 360.68 points or 1.1 percent to 34,382.13, the Nasdaq soared 304.99 points or 2.3 percent to 13,429.98 and the S&P 500 surged up 61.35 points or 1.5 percent at 4,173.85.Despite the rally on the day, the major averages moved notably lower for the week. The Nasdaq tumbled by 2.3 percent, while the S&P 500 and the Dow slumped by 1.4 percent and 1.1 percent, respectively.The strength on Wall Street came as traders continued to pick up stocks at somewhat reduced levels following the sell-off seen earlier in the week.Before the rebound on Thursday, the major averages ended Wednesday's trading at their lowest levels in over a month.A report from the Commerce Department showing retail sales were virtually unchanged in April after soaring by an upwardly revised 10.7 percent in March may also have eased recent concerns about the Federal Reserve tightening monetary policy.Economists had expected retail sales to jump by 1.0 percent compared to the 9.8 percent spike originally reported for the previous month.'Retail sales cooled in April, with a flat reading, as the sugar rush from generous fiscal transfers, rapid vaccinations and warmer weather faded,' said Gregory Daco, Chief U.S. Economist at Oxford Economics.He added, 'But don't be fooled, stronger consumer spending activity lies ahead as US households have the means and the motivation to spend freely.'A separate report from the Federal Reserve showed industrial production in the U.S. increased by less than expected in the month of April.The report said industrial production climbed by 0.7 percent in April after soaring by an upwardly revised 2.4 percent in March.Economists had expected industrial production to surge up by 1.0 percent compared to the 1.4 percent jump originally reported for the previous month.Meanwhile, University of Michigan released a report showing consumer sentiment in the U.S. has unexpectedly decreased in the month of May.The report showed the consumer sentiment index dropped to 82.8 in May from 88.3 in April. The decrease surprised economists, who had expected the index to rise to 90.4.Sector NewsComputer hardware stocks showed a substantial move to the upside on the day, driving the NYSE Arca Computer Hardware Index up by 4.2 percent.Significant strength was also visible among airline stocks, as reflected by the 4.2 percent spike by the NYSE Arca Airline Index.Energy stocks also saw considerable strength amid a rebound by the price of crude oil. After plunging $2.26 to $63.82 a barrel on Thursday, crude for June delivery jumped $1.55 to $65.37 a barrel.Reflecting the strength in the energy sector, the Philadelphia Oil Service Index soared by 3.9 percent, while the NYSE Arca Oil Index and the NYSE Arca Natural Gas Index surged up by 3.6 percent and 3.4 percent, respectively.Semiconductor, gold, and brokerage stocks also saw notable strength on the day, reflecting broad based buying interest on Wall Street.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan's Nikkei 225 Index spiked by 2.3 percent, while China's Shanghai Composite Index jumped by 1.8 percent.The major European markets also showed strong moves to the upside on the day. While the U.K.'s FTSE 100 Index surged up by 1.2 percent, the German DAX Index and the French CAC 40 Index shot up by 1.4 percent and 1.5 percent, respectively.In the bond market, treasuries extended the rebound seen over the course of the previous session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, fell by 3.3 basis points to 1.635 percent.Looking AheadNext week's trading may be impacted by reaction to reports on homebuilder confidence, housing starts and existing home sales, while traders are also likely to keep an eye on the minutes of the latest Fed meeting.Copyright RTT News/dpa-AFX
14.05.2021

Swiss Market Closes On Firm Note

BRUSSELS (dpa-AFX) - The Switzerland stock market ended on a bright note on Friday, in line with the trend seen across Europe, as investors shrugged off concerns about inflation and picked up shares amid optimism about growth.The benchmark SMI ended up by 86.87 points or 0.79% at 11,120.77, slightly off the day's high of 11,129.87.ABB ended with a gain of about 2.65% and Alcon advanced 1.6%, while Geberit, Swiss Re, Partners Group, Lonza Group, Richemont, Credit Suisse, Sika, Givaudan, Swiss Life Holding and Roche Holding gained 0.8 to 1.2%.Among the stocks in the Swiss Mid Price Index, Julius Baer, Temenos Group, Logitech and Cembra Money Bank gained 2.8 to 3.5%. VAT Group, Kuehne & Nagel, OC Oerlikon Corp, Tecan Group, Adecco and Vifor Pharma ended higher by 1.6 to 2.5%.In coronavirus-related news, reports say that the Swiss government will decide on May 26 whether to ease restrictions further at the end of the month.If conditions permit, Switzerland would then emerge from a 'protection phase' and enter a 'stabilisation phase', ministers said earlier this week. Meanwhile, vaccination roll-out continues to accelerate with over 62,000 jabs a day, up 21% compared with the previous week.Copyright RTT News/dpa-AFX
14.05.2021

European Markets Close On Strong Note

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European markets ended on a firm note on Friday as comments from Fed policymakers that the central bank will not raise rates until it sees inflation above target for a long time helped ease worries on the rate front and prompted investors to pick up stocks.Some encouraging earnings reports, continued optimism about global economic recovery thanks to gradual reopening of businesses in several places in the region too aided sentiment.The pan European Stoxx 600 climbed 1.19%. The U.K.'s FTSE 100 gained 1.15%, France's CAC 40 surged up 1.54% and Germany's DAX advanced 1.43%, while Switzerland's SMI ended 0.79% up.Among other markets in Europe, Austria, Belgium, Czech Republic, Finland, Greece, Ireland, Netherlands, Portugal, Spain and Sweden ended with strong gains.Denmark, Iceland, Norway and Poland closed modestly higher, while Russia ended flat.Travel-related stocks moved higher on reports pandemic restrictions in, the U.K., Germany and in a few other countries could ease further in the coming days.In the UK market, Burberry Group, Whitbread, Sage Group, BAE Systems, IHG, Melrose Industries, Rolls-Royce Holdings, Standard Life and M&G gained 3 to 4.5%.Royal Dutch Shell, Scottish Mortgage, Associated British Foods, JD Sports Fashion, Lloyds Banking Group, Kingfisher, Spirax-Sacro Engineering, Prudential and IAG also ended sharply higher.Rio Tinto, BHP Group, Antofagasta and Evraz declined by 1 to 3%.French stocks Safran, Unibail Rodamco, Airbus Group, Air France-KLM, Technip, Renault and Faurecia gained 3 to 4%. Schneider Electric, Accor, Total, Sodexo, Engie, Vinci, Thales and LVMH also rose sharply.In the German market, MTU Aero Engines gained about 4%. Lufthansa and Infineon Technologies gained more than 3.5% and 3.2%, respectively. Siemens, Volkswagen, Continental, Daimler and BMW rallied 2 to 3%.The minutes of the latest rate-setting session of the European Central Bank showed policymakers are looking forward to review the Eurozone economic and inflation outlook, and the duration to continue stimulus in the monetary policy session in June.Net asset purchases has hit the highest monthly purchase volume since July 2020, reflecting a marked increase versus average purchases in the first two months of this year, the ECB said. The sharp increase was despite the policy decision being taken mid-March.'Members recalled that the monetary policy meeting in June would provide the next opportunity to conduct a thorough assessment of financing conditions and the inflation outlook,' the minutes of the April 21-22 meeting, which the ECB calls 'the account' showed.ECB policymakers noted that the progress with vaccination campaigns and the envisaged gradual relaxation of containment measures underpin the expectation of a firm rebound in economic activity in the course of this year.Federal Reserve Governor Christopher Waller's comments on Thursday that increases in prices above the central bank's 2% goal should be temporary and the Fed will not raise rates until it sees inflation above target for a long time, helped ease fears about a rate hike.Fed policymakers Lael Brainard and Richard Clarida made similar comments on Tuesday and Wednesday, respectively.Copyright RTT News/dpa-AFX
14.05.2021

U.S. Stocks Extending Rebound From Lowest Levels In A Month

WASHINGTON (dpa-AFX) - Stocks have moved mostly higher in morning trading on Friday, extending the rebound seen over the course of the previous session. The major averages have all moved to the upside, with the Nasdaq showing a particularly strong advance.Currently, the major averages remain firmly in positive territory. The Dow is up 257.50 points or 0.8 percent at 34,278.95, the Nasdaq is up 234.32 points or 1.8 percent at 13,359.31 and the S&P 500 is up 47.25 points or 1.2 percent at 4,159.75.The strength on Wall Street comes as traders continue to pick up stocks at somewhat reduced levels following the sell-off seen earlier in the week.Before the rebound on Thursday, the major averages ended Wednesday's trading at their lowest levels in over a month.A report from the Commerce Department showing retail sales were virtually unchanged in April after soaring by an upwardly revised 10.7 percent in March may also have eased recent concerns about inflation.Economists had expected retail sales to jump by 1.0 percent compared to the 9.8 percent spike originally reported for the previous month.'Retail sales cooled in April, with a flat reading, as the sugar rush from generous fiscal transfers, rapid vaccinations and warmer weather faded,' said Gregory Daco, Chief U.S. Economist at Oxford Economics.He added, 'But don't be fooled, stronger consumer spending activity lies ahead as US households have the means and the motivation to spend freely.'A separate report from the Federal Reserve showed industrial production in the U.S. increased by less than expected in the month of April.The report said industrial production climbed by 0.7 percent in April after soaring by an upwardly revised 2.4 percent in March.Economists had expected industrial production to surge up by 1.0 percent compared to the 1.4 percent jump originally reported for the previous month.Meanwhile, University of Michigan released a report showing consumer sentiment in the U.S. has unexpectedly decreased in the month of May.The report showed the consumer sentiment index dropped to 82.8 in May from 88.3 in April. The decrease surprised economists, who had expected the index to rise to 90.4.Energy stocks are seeing considerable strength on the day amid a rebound by the price of crude oil. After plunging $2.26 to $63.82 a barrel on Thursday, crude for June delivery is jumping $1.09 to $64.91 a barrel.Reflecting the strength in the energy sector, the Philadelphia Oil Service Index has surged up by 3.6 percent and the NYSE Arca Oil Index is up by 2.3 percent.Substantial strength is also visible among airline stocks, with the NYSE Arca Airline Index soaring by 3.7 percent.Computer hardware, semiconductor and software stocks are also seeing significant strength, contributing to the strong gain by the tech-heavy Nasdaq.Most of the other major sectors have also moved to the upside on the day, with brokerage, gold and networking stocks seeing notable strength.In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan's Nikkei 225 Index surged up by 2.3 percent, while China's Shanghai Composite Index jumped by 1.8 percent.The major European markets have also moved to the upside on the day. While the French CAC 40 Index has advanced by 1.3 percent, the German DAX Index is up by 1.1 percent and the U.K.'s FTSE 100 Index is up by 1 percent.In the bond market, treasuries are extending the rebound seen over the course of the previous session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 2.8 basis points at 1.640 percent.Copyright RTT News/dpa-AFX
14.05.2021

U.S. Stocks May Continue To Regain Ground In Early Trading

WASHINGTON (dpa-AFX) - Following the rebound seen in the previous session, stocks may see further upside in early trading on Friday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 110 points.Traders may continue to pick up stocks at somewhat reduced levels following the sell-off seen earlier in the week.Before the rebound on Thursday, the major averages ended Wednesday's trading at their lowest levels in over a month.However, the futures have given back ground following the release of a report from the Commerce Department showing retail sales were unchanged in April after skyrocketing in March.The Commerce Department said retail sales were virtually unchanged in April after soaring by an upwardly revised 10.7 percent in March.Economists had expected retail sales to jump by 1.0 percent compared to the 9.8 percent spike originally reported for the previous month.Excluding a notable increase in sales by motor vehicle and parts dealers, retail sales slid by 0.8 percent in April after surging up by 8.9 percent in March. Ex-auto sales were expected to climb by 0.7 percent.A separate report released by the Labor Department showed U.S. import prices increased by slightly more than expected in the month of April.The Labor Department said import prices climbed by 0.7 percent in April after surging by an upwardly revised 1.4 percent in March.Economists had expected import prices to increase by 0.6 percent compared to the 1.2 percent jump originally reported for the previous month.The report showed export prices also advanced by 0.8 percent in April following a 2.4 percent spike in March. Export prices were expected to rise by 0.6 percent.Just before the start of trading, the Federal Reserve is scheduled to release its report on industrial production in the month of April. Industrial production is expected to jump by 1.0 percent.The Commerce Department is also due to release its report on business inventories in the month of March at 10 am ET. Economists expected business inventories to rise by 0.3 percent.Also at 10 am ET, the University of Michigan is scheduled to release its preliminary report on consumer sentiment in the month of May. The consumer sentiment index is expected to tick up to 90.4 in May from 88.3 in April.U.S. stocks closed higher on Thursday, staging a strong comeback after suffering losses in the previous three sessions. Investors largely shrugged off concerns about inflation and possible monetary tightening by the Federal Reserve.Data showing a bigger than expected drop in initial jobless claims in the U.S. and bargain hunting contributed to market's rebound.The major averages all ended with strong gains. The Dow advanced 433.79 points or 1.3 percent to 34,021.45 after hitting a high of 34,181.77. The S&P 500 ended up by 49.46 points or 1.2 percent at 4,112.50, while the tech-heavy Nasdaq closed higher by 93.31 points or 0.7 percent at 13,124.99, well off the day's high of 13,247.87.In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan's Nikkei 225 Index surged up by 2.3 percent, while China's Shanghai Composite Index jumped by 1.8 percent.The major European markets have also moved to the upside on the day. While the French CAC 40 Index has advanced by 0.9 percent, the U.K.'s FTSE 100 Index is up by 0.7 percent and the German DAX Index is up by 0.6 percent.In commodities trading, crude oil futures are rising $0.50 to $64.32 a barrel after plunging $2.26 to $63.82 a barrel on Thursday. Meanwhile, after inching up $1.20 to $1,824 an ounce in the previous session, gold futures are climbing $11.10 to $1,835.10 an ounce.On the currency front, the U.S. dollar is trading at 109.36 yen versus the 109.47 yen it fetched at the close of New York trading on Thursday. Against the euro, the dollar is valued at $1.2125 compared to yesterday's $1.2081.Copyright RTT News/dpa-AFX
14.05.2021

Wall Street Set To Open Moderately Higher

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Initial signs from the U.S. Futures Index suggest that Wall Street might open positive. Earnings reports might get the special attention of investors. Investors might be keeping eye on the war-like situation in Gaza as more than 100 people were killed as Israel stepped up attacks. Asian shares finished mixed, while European shares are trading higher.As of 7.35 am ET, the Dow futures were adding 168.00 points, the S&P 500 futures were progressing 27.50 points and the Nasdaq 100 futures were gaining 142.25 points.The U.S. major averages all ended with strong gains on Friday. The Dow advanced 433.79 points or 1.29 percent to settle at 34,021.45, after hitting a high of 34,181.77. The S&P 500 ended up by 49.46 points or 1.22 percent at 4,112.50, while the tech-laden Nasdaq closed higher by 93.31 points or 0.72 percent at 13,124.99, well off the day's high of 13,247.87.On the economic front, the Commerce Department's Retail Sales for April will be issued at 8.30 am ET. The consensus for retails sales is up 1.0 percent, while it was up 9.8 percent in the prior month. The Labor Department's Import and Export Prices for April is scheduled at 8.30 am ET. The consensus is for an increase of 0.6 percent, while it was up 1.2 percent in the prior year.The Commerce Department's Business Inventories for March will be released at 10.00 am ET. The consensus is for an increase of 0.3 percent, while it was up 0.5 percent last month. The University of Michigan's Consumer Survey report for May is scheduled at 10.00 am ET. The consensus is for 90.3 percent, while it was up 88.3 percent in April. The Baker Hughes Rig Count for the week will be issued at 1.00 pm ET. In the prior week, the North America Rig Count was up 503 and the U.S. Rig count was 448. Dallas Federal Reserve Bank President Robert Kaplan will participate in a virtual moderated question-and-answer session hosted by the University of Texas at Austin McCombs School of Business at 1.00 pm ET. Asian stock markets closed mixed on Friday. Chinese shares rallied. The benchmark Shanghai Composite index jumped 38.78 points, or 1.14 percent, to 3,443.44 while Hong Kong's Hang Seng index was down 79.21 points, or 0.27 percent, to 28,911.73.Japanese shares posted strong gains. The Nikkei average finished down 617.90 points, or 2.07 percent, to 29,174.15.Australian markets advanced to snap a three-day losing streak, with banks and energy companies leading the surge. The benchmark S&P/ASX 200 rose 31.50 points, or 0.45 percent, to 7,014.20 amid easing worries about inflation. The broader All Ordinaries index ended up 31.50 points, or 0.45 percent, at 7014.20. European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 52.29 points or 0.83 percent. The German DAX is adding 117.55 points or 0.77 percent, the U.K. FTSE 100 Index is gaining 48.63 points or 0.69 percent. The Swiss Market Index is adding 57.37 points or 0.52 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.86 percent.Copyright RTT News/dpa-AFX
14.05.2021

European Shares Rise As Inflation Worries Ease

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were modestly higher on Friday, as a drop in commodity prices and comments from Fed policymakers helped ease investor fears that rising inflation could spur a sudden shift in U.S. monetary policy.The pan European Stoxx 600 rose half a percent to 439.63, but was still on course for a 1 percent weekly drop. The German DAX and the U.K.'s FTSE 100 were up around 0.6 percent, while France's CAC 40 index climbed 0.7 percent Travel-related stocks were moving higher, with Lufthansa and TUI AG both adding about 1 percent following reports that Germany's pandemic restrictions could ease further in the coming days.Italian lender Banco BPM rallied 3.3 percent after Deutsche Bank upgraded the stock to 'buy'.French food group Danone fell 1.7 percent after Goldman Sachs downgraded the stock to 'sell'.LondonMetric Property rose about 1 percent in London after it announced the acquisition of three urban logistics warehouses in Croydon, Dunstable and Warrington for 18.7 million pounds.Miners fell, with Antofagasta down 2.4 percent and Rio Tinto losing 2 percent as raw materials cooled from a scorching rally.Total SE rose 1.2 percent, BP Plc gained 0.6 percent and Royal Dutch Shell added 1 percent, even as oil extended losses after dropping about 3 percent overnight on fading pipeline outage gears and rising COVID-19 cases in India, the world's third biggest importer of crude.Sanne Group shares soared 23 percent after the asset management services provider rejected a $1.90 billion buyout proposal.Spirits maker Diageo climbed 1.1 percent after HSBC raised its price target on the stock.Copyright RTT News/dpa-AFX
14.05.2021

FTSE 100 Edges Higher As Fed Officials Hold Dovish Line

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks inched higher on Friday after several U.S. Federal Reserve officials reiterated that the factors putting upward pressure on inflation are temporary and the Fed would maintain ultralow interest rates until stable recovery is seen. The benchmark FTSE 100 rose 45 points, or 0.7 percent, to 7,009 after declining 0.6 percent in the previous session. LondonMetric Property rose about 1 percent after it announced the acquisition of three urban logistics warehouses in Croydon, Dunstable and Warrington for 18.7 million pounds.Crest Nicholson Holdings gained half a percent. The company announced an agreement to sell its 50 percent equitable interest in Longcross Studio, a film studio situated on the northern side of Longcross Garden Village and a parcel of associated land on the southern side of the site, to Longcross General Partner Ltd.Miners fell, with Antofagasta down 2.4 percent and Rio Tinto losing 2 percent as raw materials cooled from a scorching rally. Sanne Group shares soared 23 percent after the asset management services provider rejected a $1.90 billion buyout proposal.Spirits maker Diageo climbed 1.1 percent after HSBC raised its price target on the stock.Copyright RTT News/dpa-AFX
14.05.2021

CAC 40 Extends Gains As Yields Ease

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks rose on Friday to extend gains from the previous session as U.S. Treasury yields eased and a drop in commodity prices helped ease inflation fears. Despite more evidence of rising inflation, Federal Reserve officials said there would be no imminent move to tighten monetary policy in the world's biggest economy. The benchmark CAC 40 climbed 36 points, or 0.6 percent, to 6,324 after closing 0.1 percent higher the previous day. Food group Danone fell nearly 2 percent after Goldman Sachs downgraded the stock to 'sell'.Total SE rose over 1 percent even as oil extended losses after dropping about 3 percent overnight on fading pipeline outage gears and rising COVID-19 cases in India, the world's third biggest importer of crude. Travel-stocks were moving higher, with Air France KLM shares rising 0.6 percent as major European economies reopen more fully from COVID-19 lockdowns.Copyright RTT News/dpa-AFX
14.05.2021

DAX Edges Higher In Cautious Trade

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - German stocks opened higher on Friday as comments from Fed policymakers helped ease investor fears that rising inflation could spur a sudden shift in U.S. monetary policy.U.S. Treasury yields edged lower in early trading today, further supporting sentiment. The 10-year yield eased to about 1.66 percent despite a lackluster auction of 30-year bonds. Eurozone government bond yields held steady after ECB Governing Council member Yannis Stournaras said that Europe is not facing the kind of inflation concerns seen in the United States.The benchmark DAX rose 58 points, or 0.4 percent, to 15,256 after rising 0.3 percent on Thursday. Travel-related stocks were moving higher, with Lufthansa climbing 1.1 percent and TUI AG adding 1.4 percent following reports that Germany's pandemic restrictions could ease further in the coming days.Infections dropped to 96.5 per 100,000 people over the past seven days, the first time the figure was below 100 since March 20, according to the RKI public-health institute.Copyright RTT News/dpa-AFX
14.05.2021

ECB Minutes Signal June Review Of Economic Outlook, Stimulus

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Policymakers are looking forward to review the Eurozone economic and inflation outlook, and the duration to continue stimulus in the monetary policy session in June, the minutes of the latest rate-setting session of the European Central Bank showed Friday. Net asset purchases has hit the highest monthly purchase volume since July 2020, reflecting a marked increase versus average purchases in the first two months of this year, the ECB said. The sharp increase was despite the policy decision being taken mid-March. 'Members recalled that the monetary policy meeting in June would provide the next opportunity to conduct a thorough assessment of financing conditions and the inflation outlook,' the minutes of the April 21-22 meeting, which the ECB calls 'the account' showed. Policymakers would also be in possession of the latest set of ECB staff macroeconomic projections in June to help them form the assessment. 'Ample monetary policy support remained crucial beyond the pandemic period in order to support inflation and return it to the inflation aim,' the minutes said.In the April meeting, the Governing Council reconfirmed its very accommodative monetary policy stance, leaving interest rates and the volume of asset purchases unchanged. Expectations of a rebound in the euro area economy has prompted discussion on when the ECB will start withdrawing its massive EUR 1.85 trillion Pandemic Emergency Purchase Programme. The scheme is set to run till March next year. ING economist Carsten Brzeski expects the ECB to try to exit from unconventional measures before the end of the year. Policymakers may not necessarily discuss possible tapering at the June meeting but at the latest, at the September meeting, the economist said. ECB policymakers noted that the progress with vaccination campaigns and the envisaged gradual relaxation of containment measures underpin the expectation of a firm rebound in economic activity in the course of this year. 'An extension of the Pandemic Emergency Purchase Programme beyond March 2022 looks increasingly unlikely with the current vaccination and economic backdrop, unless the ECB wants to walk down the very controversial road of calling the pandemic over only when the economy has returned to its pre-crisis level,' Brzeski said. 'In any case, the ECB will want to avoid any abrupt end to net asset purchases and will therefore engage in its own twist: gradually ending asset purchases under the PEPP while increasing them under the old Asset Purchase Programme.'The monthly purchases under asset purchase programme is currently EUR 20 billion. While headline inflation picked up over recent months due to some idiosyncratic and temporary factors and an increase in energy price inflation, underlying price pressures remained subdued in the context of significant economic slack and still weak demand, the ECB said.However, policymakers remained cautious about a strong euro. 'It was underlined that a further appreciation of the exchange rate could have adverse implications for the inflation outlook,' the minutes said.Copyright RTT News/dpa-AFX
14.05.2021

U.S. Consumer Sentiment Unexpectedly Deteriorates In May

WASHINGTON (dpa-AFX) - Consumer sentiment in the U.S. has unexpectedly decreased in the month of May, according to preliminary data released by the University of Michigan on Friday.The report showed the consumer sentiment index dropped to 82.8 in May from 88.3 in April. The decrease surprised economists, who had expected the index to rise to 90.4.'Consumer confidence in early May tumbled due to higher inflation--the highest expected year-ahead inflation rate as well as the highest long term inflation rate in the past decade,' said Surveys of Consumers chief economist Richard CurtinHe added, 'The average of net price mentions for buying conditions for homes, vehicles, and household durables were more negative than any time since the end of the last inflationary era in 1980.'However, Curtin predicted that consumer spending would continue to advance despite higher prices due to pent-up demand and record saving balances.The report showed the current economic conditions index slid to 90.8 in May from 97.2 in April, while the index of consumer expectations fell to 77.6 from 82.7.On the inflation front, one-year inflation expectations jumped to 4.6 percent in May from 3.4 percent in April. Five-year inflation expectations also rose to 3.1 percent from 2.7 percent.Copyright RTT News/dpa-AFX
14.05.2021

U.S. Business Inventories Increase In Line With Estimates In March

WASHINGTON (dpa-AFX) - The Commerce Department released a report on Friday showing business inventories in the U.S. increased in line with economist estimates in the month of March.The report said business inventories rose by 0.3 percent in March after climbing by an upwardly revised 0.6 percent in February.Economists had expected business inventories to increase by 0.3 percent compared to the 0.5 percent advance originally reported for the previous month.The uptick in business inventories came as wholesale inventories surged up by 1.3 percent and manufacturing inventories climbed by 0.7 percent.On the other hand, the report showed retail inventories tumbled by 1.4 percent, partly offsetting the increases in the other sectors.The report also showed business sales spiked by 5.7 percent in March after slumping by 1.6 percent in February.Retail sales skyrocketed by 10.4 percent, while wholesale sales surged up by 4.6 percent and manufacturing sales jumped by 2.1 percent.With sales spiking by much more than inventories, the total business inventories/sales ratio fell to 1.23 in March from 1.30 in February.Copyright RTT News/dpa-AFX
14.05.2021

U.S. Industrial Production Climbs Less Than Expected In April

WASHINGTON (dpa-AFX) - Industrial production in the U.S. increased by less than expected in the month of April, according to a report released by the Federal Reserve on Friday.The report said industrial production climbed by 0.7 percent in April after soaring by an upwardly revised 2.4 percent in March.Economists had expected industrial production to surge up by 1.0 percent compared to the 1.4 percent jump originally reported for the previous month.The increase in industrial production was partly due to a rebound in utilities output, which spiked by 2.6 percent in April after plunging by 9.0 percent in March.Manufacturing output also rose by 0.4 percent despite a drop in motor vehicle assemblies that principally resulted from shortages of semiconductors. 'An important contributor to the gain in factory output was the return to operation of plants that were damaged by February's severe weather in the south central region of the country and had remained offline in March,' the Fed said.The report also showed capacity utilization in the industrial sector rose to 74.9 percent in April from 74.4 percent in March. Economists had expected capacity utilization to climb to 75.0 percent.Copyright RTT News/dpa-AFX
14.05.2021

US MAR RETAIL INVENTORIES -1.4%

Copyright RTT News/dpa-AFX
14.05.2021

U.S. Import Prices Climb 0.7% In April, Slightly More Than Expected

WASHINGTON (dpa-AFX) - A report released by the Labor Department on Friday showed U.S. import prices increased by slightly more than expected in the month of April.The Labor Department said import prices climbed by 0.7 percent in April after surging by an upwardly revised 1.4 percent in March.Economists had expected import prices to increase by 0.6 percent compared to the 1.2 percent jump originally reported for the previous month.A 0.7 percent rise in non-fuel import prices and a 0.5 percent increase in fuel prices both contributed to the overall advance in import prices.The report showed export prices also advanced by 0.8 percent in April following a 2.4 percent spike in March. Export prices were expected to rise by 0.6 percent.The Labor Department said a 0.9 percent increase in non-agricultural prices and a 0.6 percent rise in agricultural prices both contributed to the April increase in export prices.Compared to the same month a year ago, import prices in April were up by 10.6 percent and export prices were up by 14.4 percent.'Soaring commodity prices and strong base effects will continue to boost import prices in the coming months,' said Kathy Bostjancic, Chief U.S. Financial Economist at Oxford Economics.She added, 'However, the acceleration in import inflation should be temporary and trend lower in the second half of the year.'Copyright RTT News/dpa-AFX
14.05.2021
14.05.2021

US APR MFG OUTPUT +0.4%

Copyright RTT News/dpa-AFX
14.05.2021

U.S. Retail Sales Unchanged In April After Soaring In March

WASHINGTON (dpa-AFX) - After reporting a sharp increase in U.S. retail sales in the previous month, the Commerce Department released a report on Friday showing retail sales were unchanged in the month of April.The Commerce Department said retail sales were virtually unchanged in April after soaring by an upwardly revised 10.7 percent in March.Economists had expected retail sales to jump by 1.0 percent compared to the 9.8 percent spike originally reported for the previous month.Retail sales came in unchanged as a continued increase in sales by motor vehicles and parts dealers was offset by decreases in sales in other segments. Auto sales shot up by 2.9 percent in April after skyrocketing by 17.1 percent in March.Excluding the increase in sales by motor vehicle and parts dealers, retail sales slid by 0.8 percent in April after surging up by 8.9 percent in March. Ex-auto sales were expected to climb by 0.7 percent.The unexpected decrease in ex-auto sales reflected sharp pullbacks in sales by clothing and accessories stores, general merchandise stores and sporting goods, hobby, musical instrument, and book stores.Closely watched core retail sales, which exclude automobiles, gasoline, building materials and food services, also slumped by 1.5 percent in April after soaring by 7.6 percent in March.'Retail sales cooled in April, with a flat reading, as the sugar rush from generous fiscal transfers, rapid vaccinations and warmer weather faded,' said Gregory Daco, Chief U.S. Economist at Oxford Economics.He added, 'But don't be fooled, stronger consumer spending activity lies ahead as US households have the means and the motivation to spend freely.'Copyright RTT News/dpa-AFX
14.05.2021

Dollar Slips Against Peers On Weak Data

WASHINGTON (dpa-AFX) - The U.S. dollar lost ground against its peers on Friday, as disappointing retail sales data suggest the Federal Reserve will keep its ultra-loose monetary policy for the foreseeable futures.Comments from several Fed officials this week that the bank is unlikely to hike rates as the surge in inflation is very likely to be a temporary one contributed as well to the currency's weakness.Federal Reserve Governor Christopher Waller said on Thursday that the factors putting upward pressure on inflation are temporary and the spike may last through 2022.The Fed would not overreact to temporary overshoots of inflation, he added. Fed policymakers Lael Brainard and Richard Clarida made similar comments on Tuesday and Wednesday, respectively.According to a report from the Commerce Department, retail sales were virtually unchanged in April after soaring by an upwardly revised 10.7% in March may also have eased recent concerns about inflation.Economists had expected retail sales to jump by 1% compared to the 9.8% spike originally reported for the previous month.A separate report from the Federal Reserve showed industrial production in the U.S. increased by less than expected in the month of April, climbing by 0.7%, after soaring by an upwardly revised 2.4% in March.Economists had expected industrial production to surge up by 1% compared to the 1.4% jump originally reported for the previous month.Meanwhile, University of Michigan released a report showed the consumer sentiment index dropped to 82.8 in May from 88.3 in April. The decrease surprised economists, who had expected the index to rise to 90.4.The dollar index dropped to 90.28 and is at 90.32 now, down nearly 0.5% from the previous close.Against the Euro, the dollar has weakened to $1.2143, sliding from $1.2081. The minutes of the latest rate-setting session of the European Central Bank showed policymakers are looking forward to review the Eurozone economic and inflation outlook, and the duration to continue stimulus in the monetary policy session in June.ECB policymakers noted that the progress with vaccination campaigns and the envisaged gradual relaxation of containment measures underpin the expectation of a firm rebound in economic activity in the course of this year.The Pound Sterling is stronger by about 0.3%, fetching $1.4095 a unit, compared with Thursday's close of $1.4051.The Yen is stronger at 109.36, gaining from 109.47 a dollar. The dollar slipped to 0.7780 against the Aussie, giving up about 0.65%.The Swiss franc firmed up to 0.9021 a dollar from 0.9064, while the Loonie strengthened to 1.2111 a dollar, gaining about 0.42%.Data from Statistics Canada showed manufacturing sales in Canada increased by 3.5% in March, after falling 1.6% a month earlier.The data also showed Canadian wholesale sales rose by 2.8% in March, after coming in at -0.7% in February.Copyright RTT News/dpa-AFX
14.05.2021

Disappointing U.S. Retail Sales Data Drags Dollar Down

CANBERA (dpa-AFX) - The U.S. dollar drifted lower against its major counterparts in the European session on Friday, as the nation's retail sales unexpectedly stagnated in April, prompting the Federal Reserve to keep the ultra-loose monetary policy for the foreseeable future.Data from the Commerce Department showed that U.S. retail sales were unchanged in the month of April, after surging in the previous month.The Commerce Department said retail sales were virtually unchanged in April after soaring by an upwardly revised 10.7 percent in March.Economists had expected retail sales to jump by 1.0 percent compared to the 9.8 percent spike originally reported for the previous month.Excluding a notable increase in sales by motor vehicle and parts dealers, retail sales slid by 0.8 percent in April after surging up by 8.9 percent in March. Ex-auto sales were expected to climb by 0.7 percent. Data from the Labor Department showed that U.S. import prices increased slightly more than expected in the month of April.The Labor Department said import prices climbed by 0.7 percent in April after surging by an upwardly revised 1.4 percent in March.Economists had expected import prices to increase by 0.6 percent compared to the 1.2 percent jump originally reported for the previous month.Comments from several Fed officials downplaying an imminent rise in interest rates soothed some of the concerns about risks from inflation.Federal Reserve Governor Christopher Waller said on Thursday that the factors putting upward pressure on inflation are temporary and the spike may last through 2022.The Fed would not overreact to temporary overshoots of inflation, he added.The dollar showed a mixed trend against its major rivals in the Asian session. While it fell against the franc and the euro, it was steady against the pound. Versus the yen, it climbed.The greenback lost 0.5 percent to reach a 2-day low of 1.2138 against the euro. The pair was worth 1.2078 when it closed deals on Thursday. Further drop in the currency may challenge support around the 1.24 level.The greenback was 0.4 percent lower versus the pound, at a 2-day low of 1.4096. The pound-greenback pair had ended yesterday's trading session at 1.4045. Should the greenback dips further, 1.43 is possibly seen as its next support level. The greenback fell 0.4 percent to a 2-day low of 109.19 against the yen, from a high of 109.66 it set at 9:00 pm ET. The pair had closed Thursday's deals at 109.43. The greenback is seen facing support around the 106.00 level. The greenback remained weaker against the franc, at a 3-day low of 0.9021. At yesterday's trading close, the pair was quoted at 0.9058. Immediate support for the greenback is likely located around the 0.88 level.The greenback depreciated to 2-day lows of 0.7777 against the aussie and 1.2081 against the loonie, from yesterday's closing values of 0.7727 and 1.2161, respectively. Further downtrend may take the greenback to support levels of around 0.80 against the aussie and 1.19 against the loonie.The greenback was down versus the kiwi, at a 2-day low of 0.7247. At Thursday's close, the pair was valued at 0.7178. Extension of downward trading may see the greenback finding support around the 0.74 region. Survey from BusinessNZ showed that New Zealand manufacturing sector continued to expand in April, albeit at a slower pace, with a Performance of Manufacturing Index score of 58.4.That's down from 63.6 in March, although it remains well above the boom-or-bust line of 50 that separates expansion from contraction.Copyright RTT News/dpa-AFX
14.05.2021

Dollar Weakens After U.S. Retail Sales Data

BRUSSELS (dpa-AFX) - U.S. retail sales and export and import prices for April have been issued at 8:30 am ET Friday. The greenback fell against its major counterparts after these data.The greenback was trading at 109.24 against the yen, 1.2131 against the euro, 1.4088 against the pound and 0.9029 against the franc around 8:33 am ET.Copyright RTT News/dpa-AFX
14.05.2021

Dollar Mixed Ahead Of U.S. Retail Sales Data

BRUSSELS (dpa-AFX) - U.S. retail sales and export and import prices for April are due at 8:30 am ET Friday. Ahead of these data, the greenback traded mixed against its major counterparts. While the currency fell against the pound, it held steady against the rest of major rivals.The greenback was worth 109.27 against the yen, 1.2125 against the euro, 1.4084 against the pound and 0.9030 against the franc at 8:25 am ET.Copyright RTT News/dpa-AFX
14.05.2021

Euro Little Changed After ECB Minutes

BRUSSELS (dpa-AFX) - The European Central Bank has published the account of the monetary policy meeting of the Governing Council held on April 21-22 at 7.30 am ET Friday. After the release, the euro changed little against its major counterparts.The euro was trading at 1.2112 against the greenback, 132.47 against the yen, 1.0957 against the franc and 0.8607 against the pound around 7.35 am ET.Copyright RTT News/dpa-AFX
14.05.2021

Euro Mixed Ahead Of ECB Minutes

BRUSSELS (dpa-AFX) - At 7:30 am ET Friday, the European Central Bank publishes the account of the monetary policy meeting of the Governing Council held on April 21-22. Ahead of the release, the euro traded mixed against its major counterparts. While it retreated against the pound, it rose against the franc. Against the yen and the greenback, it held steady.The euro was worth 1.2116 against the greenback, 132.48 against the yen, 1.0958 against the franc and 0.8607 against the pound at 7.25 am ET.Copyright RTT News/dpa-AFX
14.05.2021

Japanese Yen Drops Amid Rising Risk Appetite

CANBERA (dpa-AFX) - The Japanese yen fell against its major counterparts in the Asian session on Friday amid rising risk appetite, as concerns about higher inflation eased after comments from Federal Reserve officials suggested that recent price pressures are transitory.Most Asian stock markets rose, following the broadly positive cues overnight from Wall Street, as indications of a strengthening economy helped soothe some of the concerns about risks from inflation.Federal Reserve Governor Christopher Waller said Thursday the factors putting upward pressure on inflation are temporary and the spike may last through 2022.The Fed would not overreact to temporary overshoots of inflation, he added.Data showing a drop in U.S. jobless claims to a 14-month low last week also helped tame inflation worries.Investors await U.S. retail sales for April and the preliminary readings of the Michigan consumer sentiment index for May due later in the day for more direction.The yen dropped to 154.01 against the pound, 132.50 against the euro and 109.66 against the greenback, after rising to 153.69 and 132.16 and a 2-day high of 109.35, respectively. The next likely support for the yen is seen around 156 against the pound, 135.00 against the euro and 112.00 against the greenback. The yen depreciated to a 5-1/2-year low of 121.09 against the franc, from a high of 120.61 seen at 5:00 pm ET. If the yen continues its fall, 123.5 is possibly seen as its next support level. The yen edged down to 78.71 against the kiwi and 84.76 against the aussie, from its previous highs of 78.46 and 84.52, respectively and held steady thereafter. The yen is poised to challenge support around 82.00 against the kiwi and 87.00 against the aussie.The yen was trading lower at 90.11 versus the loonie, compared to Thursday's close of 89.96. The yen is seen finding support around the 92.00 region. Looking ahead, at 7:30 am ET, the European Central Bank publishes the account of the monetary policy meeting of the Governing Council held on April 21-22.Canada wholesale sales and manufacturing sales for March, U.S. retail sales, export and import prices and industrial production, all for April, University of Michigan's preliminary U.S. consumer sentiment index for May and business inventories data for March are scheduled for release in the New York session.Copyright RTT News/dpa-AFX
13.05.2021

Dollar Mixed Against Other Major Currencies

WASHINGTON (dpa-AFX) - The U.S. dollar turned in a mixed performance against its major counterparts on Thursday.The dollar had firmed up against rivals on Wednesday on speculation that the Federal Reserve might consider tightening its monetary policy in the foreseeable future to rein in inflation.Data released by the Labor Department on Wednesday showed U.S. inflation rate jumped to the highest in 13 years, beating forecasts. The monthly gauge rose the most since 2009, the data showed.Fed vice chair Richard Clarida said on Wednesday that the recent rise in prices could be temporary and it has not changed the central bank's stance of keeping monetary policy loose.In today's economic releases, the Labor Department data said its producer price index for final demand rose by 0.6% in April after jumping by 1% in March. Economists had expected producer prices to increase by 0.3%.The report also showed the annual rate of producer price growth accelerated to 6.2% in April from 4.2% in March, with prices showing the biggest annual increase since 12-month data were first calculated in November of 2010.Meanwhile, a separate report from the Labor Department showed first-time claims for U.S. unemployment benefits fell by more than expected in the week ended May 8th, dipping to 473,000, a decrease of 34,000 from the previous week's revised level of 507,000.Economists had expected jobless claims to edge down to 490,000 from the 498,000 originally reported for the previous week.The dollar index, which rose to 90.91 in the Asian session, dropped to 90.59 by mid morning, but recovered to 90.85 subsequently before paring some gains again. It was last seen at 90.72, up slightly from the previous close.Against the Euro, the dollar weakened to $1.2080, losing marginal ground. The Pound Sterling was slightly weak, fetching $1.4050 a unit. The Yen firmed up against the dollar, moving to 109.46 a dollar from Wednesday's close of 109.70.The Aussie was flat with the AUD-USD at 0.7729. The dollar was slightly weak against Swiss franc, and firmed up against the Loonie.Copyright RTT News/dpa-AFX
13.05.2021

Dollar Slightly Down After U.S. Weekly Jobless Claims, PPI

BRUSSELS (dpa-AFX) - The U.S. weekly jobless claims for the week ended May 8 and PPI for April have been released at 8:30 am ET Thursday. The greenback fell slightly against its major counterparts after these data.The greenback was trading at 109.56 against the yen, 1.2083 against the euro, 1.4034 against the pound and 0.9075 against the franc around 8:33 am ET.Copyright RTT News/dpa-AFX
13.05.2021

Dollar Mixed Ahead Of U.S. Weekly Jobless Claims, PPI

BRUSSELS (dpa-AFX) - The U.S. weekly jobless claims for the week ended May 8 and PPI for April are due at 8:30 am ET Thursday. Ahead of these data, the greenback traded mixed against its major counterparts. While the currency retreated against the franc, it held steady against the rest of major rivals.The greenback was worth 109.61 against the yen, 1.2081 against the euro, 1.4034 against the pound and 0.9072 against the franc at 8:25 am ET.Copyright RTT News/dpa-AFX

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