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21.06.2021

Medtronic Gets FDA Expanded Approval For Arctic Front Family Of Cardiac Cryoablation Catheters

FRIDLEY (dpa-AFX) - Medtronic plc (MDT) said Monday that it received U.S. Food and Drug Administration expanded approval for the Arctic Front Family of Cardiac Cryoablation Catheters for the treatment of recurrent symptomatic paroxysmal atrial fibrillation as an alternative to antiarrhythmic drug or AAD therapy as an initial rhythm control strategy.The expanded indication is based on results from STOP AF First, a prospective, multicenter randomized study that demonstrated superior efficacy of the Medtronic cryoablation procedure for preventing atrial arrhythmia recurrence compared to the use of AAD therapy.Atrial fibrillation is a progressive disease, meaning over time patients can experience more frequent, and longer episodes, and medication as well as catheter ablation can become less effective. Additionally, AF is associated with serious complications including heart failure, stroke and increased risk of death.Copyright RTT News/dpa-AFX
21.06.2021

ExxonMobil Announces Final Results In Election Of Directors

IRVING (dpa-AFX) - Energy company ExxonMobil Corp. (XOM) announced Monday the final election results of the 2021 Annual Meeting of Shareholders as confirmed by the independent election inspector.The ExxonMobil board of directors will consist of Michael Angelakis, Susan Avery, Angela Braly, Ursula Burns, Kenneth Frazier, Gregory Goff, Kaisa Hietala, Joseph Hooley, Steve Kandarian, Alexander Karsner, Jeffrey Ubben and Darren Woods.Meanwhile, Douglas Oberhelman, Sam Palmisano and Wan Zulkiflee will be departing the board.Copyright RTT News/dpa-AFX
21.06.2021

Synopsys To Buy Semiconductor And Flat Panel Display Solutions From BISTel

WASHINGTON (dpa-AFX) - Synopsys, Inc. (SNPS) announced Monday that it has signed a definitive agreement to acquire the semiconductor and flat panel display solutions from BISTel, a leader in engineering equipment systems and AI applications for semiconductor smart manufacturing, headquartered in South Korea.When completed, the acquisition will broaden Synopsys' industry-leading process control solutions for semiconductor fabs with an integrated and comprehensive yield management and prediction solution to enhance manufacturing quality and efficiency.The acquisition will also add a team of experienced engineers to accelerate technology development using real-time manufacturing predictive analysis.The transaction is subject to customary closing conditions and is expected to close in Synopsys' fourth quarter of fiscal year 2021. The terms of the deal, which are not material to Synopsys' financials, are not being disclosed.Copyright RTT News/dpa-AFX
21.06.2021

Hewlett Packard Enterprise Buys Determined AI For Undisclosed Terms

WASHINGTON (dpa-AFX) - Hewlett Packard Enterprise (HPE) announced Tuesday that it has acquired Determined AI, a San Francisco-based startup that delivers a powerful and robust software stack to train AI models faster, at any scale, using its open source machine learning (ML) platform. Financial terms of the transaction were not disclosed.HPE will combine Determined AI's unique software solution with its world-leading AI and high performance computing (HPC) offerings to enable ML engineers to easily implement and train machine learning models to provide faster and more accurate insights from their data in almost every industry.By combining Determined AI's open source capabilities, HPE is furthering its mission in making AI heterogeneous and empowering ML engineers to build AI models at a greater scale.Determined AI has quickly emerged as a leading player in the evolving machine learning software ecosystem. Its solution has been adopted by customers across a wide range of industries, such as biopharmaceuticals, autonomous vehicles, defense contracting, and manufacturing.The Determined AI team will join HPE's High Performance Computing (HPC) & Mission Critical Solutions (MCS) business group.Copyright RTT News/dpa-AFX
21.06.2021

51job To Be Taken Private In Transaction Valued At $5.7 Bln

BEIJING (dpa-AFX) - Chinese HR firm 51job, Inc. (JOBS) announced Monday that it has entered into a definitive Agreement and Plan of Merger with Garnet Faith Limited, pursuant to which, and subject to the terms and conditions thereof, Garnet Faith will merge with and into 51job, with 51job being the surviving company, in a transaction implying an equity value of the Company of approximately US$5.7 billion in which 51job will be acquired by a consortium of investors.The Consortium includes DCP Capital Partners II, L.P., Ocean Link Partners Limited and Rick Yan, the Chief Executive Officer of the Company. Recruit Holdings Co., Ltd., the Company's largest shareholder, is also participating in the transaction with the Consortium.Pursuant to the terms of the Merger Agreement, at the effective time of the Merger, each common share, par value US$0.0001 per share of 51job issued, outstanding will be cancelled and cease to exist, in exchange for the right to receive US$79.05 in cash per Share without interest.The Merger Consideration represents a premium of 28.89% to the closing price of the Company's ADSs on May 3, 2021, the last trading day prior to the Company's announcement of its receipt of the updated 'going-private' proposal.The Merger, which is currently expected to close during the second half of 2021, is subject to customary closing conditions including the approval of the Merger Agreement by an affirmative vote of holders of Shares representing at least two-thirds of the voting power of the Shares present at a meeting of the Company's shareholders.If completed, the Merger will result in the Company becoming a privately-held company and its ADSs will no longer be listed on the NASDAQ Global Select Market.Copyright RTT News/dpa-AFX
21.06.2021

Gilead's Remdesivir Reduces Mortality Rate In Hospitalized Patients With COVID-19

FOSTER CITY (dpa-AFX) - Gilead Sciences Inc. (GILD) announced positive data from three retrospective studies of the real-world treatment of patients hospitalized with COVID-19, adding to the body of mortality and hospital discharge data for patients treated with Veklury or remdesivir.All three of the real-world analyses, which was presented at the World Microbe Forum, observed that, in the overall patient populations, patients who received Veklury treatment had significantly lower risk for mortality compared with matched controls. A reduction in mortality was observed across a spectrum of baseline oxygen requirements.The company noted that the results were consistently observed at different timeframes over the course of the pandemic and across geographies. Two of the studies also observed that patients who received Veklury had a significantly increased likelihood of discharge from the hospital by Day 28.The three real-world data analyses presented at the Forum include 98,654 patients hospitalized with COVID-19. Two retrospective studies observed treatment trends and outcomes in the U.S. from the HealthVerity and Premier Healthcare databases. A third analysis compared clinical outcomes in patients receiving a 10-day treatment course of Veklury in the extension phase of the global, open-label SIMPLE-Severe study with patients receiving standard of care in a real-world retrospective longitudinal cohort study. All three analyses utilized pre-specified endpoints, best practice methodologies, including robust matching and weighting approaches, and sensitivity analyses, and were conducted in collaboration with independent experts in real-world comparative effectiveness research.Copyright RTT News/dpa-AFX
21.06.2021

L Brands Files Form 10 With SEC For Separation Of Victoria's Secret Business

WASHINGTON (dpa-AFX) - Fashion retailer L Brands, Inc. (LB) announced Monday the public filing of a Form 10 registration statement with the U.S. Securities and Exchange Commission in connection with the previously announced separation of the Victoria's Secret business into an independent, public company.The new company, named Victoria's Secret & Co., will include Victoria's Secret Lingerie, PINK and Victoria's Secret Beauty.As previously announced, the separation is currently expected to be completed in August 2021, subject to certain customary conditions, including final approval by the L Brands Board of Directors and effectiveness of the Form 10 registration statement.On May 11, L Brands said its Board of Directors unanimously approved a plan to separate the company into two independent publicly traded companies. The company had initially revealed this strategy in May 2020.Copyright RTT News/dpa-AFX
21.06.2021

Priceline's Freedom Sale Offer Savings On Travel Deals

NORWALK (dpa-AFX) - Priceline, affiliated to Booking Holdings Inc., is launching Fourth of July Freedom sale with bigger savings on flights, hotels and rental cars for the upcoming summer travel season.The company, which offers exclusive discounts on hotels, flights, alternative accommodations, rental cars, cruises and packages, said the two-week Freedom Sale will feature special discounts and promotions.Priceline's Freedom Sale gives no restrictions on travel dates. It allows travelers access to even more savings with the freedom to explore whenever and wherever they want.Priceline CEO Brett Keller said, 'After a long year of missing so much, we want to ensure our customers can take the trips they want at prices they can afford, and during Priceline's Freedom Sale, every trip is an even bigger deal.'Priceline said its consumers can sign up for free VIP Loyalty program to access exclusive deals. The company offers $25 off Express Deals sitewide starting Monday, June 21 through Tuesday, June 22 with a minimum spend of $100. Code will be revealed upon sign-in. New customers who enroll in the free loyalty program will have immediate access to VIP Member level benefits, including exclusive Freedom Sale discounts.Further, from June 23 to July 6, customers can use the code 'FREEDOM20' to access many deals. These include $20 off sitewide Express Deals on hotel, flight, or rental car with a minimum spend of $120. Rental Car Partner Deals are also available on Priceline. Priceline makes saving on travel easier than ever by offering up to 60% off on hotels, flights, rental cars, and cruises. These are through Take Advantage of City Deals; Rent a Car From Off-Airport Locations; Head to Affordable Destinations For A Last Minute Fourth Of July Getaway; and Bundle travel for added savings.Copyright RTT News/dpa-AFX
21.06.2021

GameStop Appoints Matt Furlong To Board

WASHINGTON (dpa-AFX) - GameStop Corp. (GME) said Monday that it has appointed former Amazon executive Matt Furlong to its board, effective immediately. The appointment date aligns with Furlong's start date as GameStop's new Chief Executive Officer.Coinciding with Furlong's appointment, George Sherman has retired from the Board. Five of the six members of the Board remain independent.GameStop's former CEO George Sherman has retired from the board.GameStop noted that five of the six members of the Board remain independent.Copyright RTT News/dpa-AFX
21.06.2021

GSK, Vir Say Phase 3 COMET-ICE Trial Met Primary Endpoint

LONDON (dpa-AFX) - GlaxoSmithKline plc (GSK) and Vir Biotechnology, Inc. (VIR) announced Monday final, confirmatory results from the Phase 3 COMET-ICE trial demonstrating that sotrovimab, an investigational SARS-CoV-2 monoclonal antibody, significantly reduced the risk of hospitalization or death among high-risk adult outpatients with mild-to-moderate COVID-19.Additionally, the U.S. National Institutes of Health (NIH) updated its COVID-19 treatment guidelines to recommend sotrovimab for non-hospitalized patients with mild-to-moderate COVID-19 who are at high risk of clinical progression and noted that sotrovimab appears to retain activity against current variants of concern and interest.The primary efficacy analysis of all 1,057 patients in the COMET-ICE trial demonstrated a 79% reduction in hospitalization for more than 24 hours or death due to any cause, by Day 29 compared to placebo, meeting the primary endpoint of the trial.The companies plan to submit the full COMET-ICE data set to a peer-reviewed journal for publication. They also plan to submit a Biologics License Application (BLA) to the U.S. FDA in the second half of 2021.GSK and Vir are committed to ongoing evaluation of sotrovimab as the COVID-19 landscape continues to evolve at different rates across the globe and new variants of concern and interest emerge.Copyright RTT News/dpa-AFX
21.06.2021

Bargain Hunting Contributes To Significant Rebound On Wall Street

WASHINGTON (dpa-AFX) - Stocks showed a strong move back to the upside during trading on Friday, partly offsetting the weakness that was seen last week. The major averages all moved notably higher, with the Dow showing a particularly strong upward move.The major averages moved roughly sideways going into the close, holding on to significant gains. The Dow spiked 586.89 points or 1.8 percent to 33,876.97, the Nasdaq advanced 111.10 points or 0.8 percent to 14,141.48 and the S&P 500 jumped 58.34 points or 1.4 percent to 4,224.79.The rebound on Wall Street partly reflected bargain hunting after the steep drop seen last Friday dragged the Dow down to its lowest closing level in well over two months.The Dow closed lower for five straight sessions and tumbled 3.4 percent last week, marking the worst week for the blue chip index since last October.Last week's sell-off came amid concerns about the outlook for monetary policy after the Federal Reserve latest projections called for two interest rates hikes in 2023.St. Louis Fed President Jim Bullard told CNBC's 'Squawk Box' the first rate hike by the Fed could come as soon as next year.Looking ahead, Fed Chair Jerome Powell is scheduled to testify before the House Select Subcommittee on the Coronavirus Crisis on Tuesday. Powell is due to discuss the Fed's response to the pandemic but could also face questions about the outlook for monetary policy.Reports on new and existing home sales, durable goods orders and personal income and spending may also attract attention in the coming days.Sector NewsEnergy stocks turned in some of the market's best performances on the day, moving sharply higher along with the price of crude oil. Crude for July delivery spiked $2.02 to $73.66 a barrel.Reflecting the strength in the energy sector, the Philadelphia Oil Service Index skyrocketed by 5.5 percent, the NYSE Arca Oil Index soared by 4.6 percent and the NYSE Arca Natural Gas Index surged up by 3.5 percent.Substantial strength was also visible among banking stocks, as reflected by the 2.9 percent jump by the KBW Bank Index. The index rebounded off a two-month closing low.Steel stocks also saw significant strength on the day, with the NYSE Arca Steel Index shooting up by 2.6 percent after ending the previous session at its lowest closing level in two months.Airline, chemical and commercial real estate stocks also showed strong moves to the upside, moving higher along with most of the other major sectors.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Monday. Japan's Nikkei 225 Index plummeted by 3.3 percent, while Hong Kong's Hang Seng Index slumped by 1.1 percent.Meanwhile, the major European markets moved to the upside on the day. While the German DAX Index jumped by 1 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index climbed by 0.6 percent and 0.5 percent, respectively.In the bond market, treasuries gave back ground after moving sharply higher over the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose by 3.4 basis points to 1.484 percent.Looking AheadPowell's congressional testimony is likely to attract attention on Tuesday along with the National Association of Realtors' report on existing home sales.Copyright RTT News/dpa-AFX
21.06.2021

Swiss Market Ends On Firm Note

BRUSSELS (dpa-AFX) - The Switzerland stock market, which took a breather on Friday after a 13-day winning streak, ended on a firm note on Monday despite a weak start.After struggling early on in the session, the market emerged into positive territory by mid morning, and despite moving just above the flat line till the penultimate hour, closed notably higher thanks to brisk buying at a few counters in the closing minutes.The benchmark SMI ended with a gain of 54.38 points or 0.46% at 11,995.63, the day's high. The index dropped to a low of 11,874.41 in early trades.ABB gained 1.75%, Givaudan surged up 1.6% and SGS climbed 1.2%. Geberit, Richemont, Holcim and Swatch Group ended higher by 0.9 to 1.1%.Swisscom, Sika, Nestle, Novartis and Partners Group also ended higher, while Lonza Group, UBS Group and Zurich Insurance Group closed weak.Among the stocks in the Mid Price Index, Logitech gained nearly 3%. Kuehne & Nagel climbed 2.35% and Schindler Holding ended nearly 2% up. SIG Combibloc, Schindler Ps, Helvetia, Ems Chemie Holding, Julius Baer and VAT Group gained 1 to 1.8%.On the other hand, Dufry and Tecan Group lost 2.5% and 1.4%, respectively. Vifor Pharma ended lower by about 0.9%.On the vaccination front, Switzerland plans to allow 12 to 15-year olds to receive vaccinations against COVID-19 as soon as next week, government vaccine chief Christoph Berger told Swiss newspaper NZZ in an interview published on Sunday.Copyright RTT News/dpa-AFX
21.06.2021

European Markets Close Higher

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - After opening on a weak note and struggling to hold gains after a fairly good recovery, European markets managed to close higher on Monday.Sentiment turned a bit positive after the European Central Bank President Christine Lagarde raid the bank will continue to support the economy by continuing with its accommodative monetary policy.Concerns over the possibility of the Federal Reserve tapering its asset buying program and the recent remarks by officials that the Fed will hike interest rates by 2023 weighed on the markets and limited their gains.Investors also continued to track updates about the spread of coronavirus infections in the U.K., and the progress in vaccination rollout across the globe.The pan European Stoxx 600 climbed 0.7%. The U.K.'s FTSE 100 gained 0.64%, Germany's DAX surged up 1% and France's CAC 40 advanced 0.51%, while Switzerland's SMI gained 0.46%.Among other markets in Europe, Austria, Belgium, Czech Republic, Denmark, Finland, Iceland, Ireland, Netherlands, Norway, Portugal, Russia, Spain, Sweden and Turkey closed higher.Greece drifted down, while Poland closed flat.In the UK market, Ocado Group, Sainsbury (J), Evraz, ICP, Weir Group, Taylor Wimpey, Smith (DS), Ashtead Group, CRH, St. James Place, Anglo American Plc, Bunzl and Kingfisher gained 2 to 4%.Shares of British supermarket chain Morrison Supermarkets zoomed nearly 35% after the company rebuffed a proposed 5.52 billion ($7.62 billion) takeover from private equity firm Clayton, Dubilier & Rice on the grounds that it 'significantly undervalued the company and its potential.' In France, Michelin, Air Liquide, ArcelorMittal, Renault, Saint Gobain, Technip, Kering, Publicis Groupe, Faureica, Hermes International and Carrefour gained 1 to 4%.Atos, Danone, Sodexo, Accor, Valeo and AXA lost 1 to 2.3%.In the German market, Volkswagen gained nearly 4%. Covestro, Daimler, Continental and BMW gained 2 to 3%. Deutsche Post, BASF, HeidelbergCement, Vonovia, Deutsche Telekom, Linde and Adidas also closed with strong gains, while Lufthansa and Fresenius declined sharply.In economic releases, British households' optimism about their finances over the next twelve months reached its highest level in five years in the second quarter, survey results from IHS Markit showed.The headline Scottish Widows household finance index, which measures households' overall perceptions of financial wellbeing, rose to 44.7 in the second quarter from 42.0 in the first quarter.The indicator signaled the weakest deterioration in U.K. household finances since the COVID-19 pandemic began.On Friday, St. Louis Federal Reserve President Jim Bullard offered a fresh dose of hawkishness, saying he sees an initial interest rate increase happening in 2022.Copyright RTT News/dpa-AFX
21.06.2021

U.S. Stocks Hovering Firmly In Positive Territory In Mid-Day Trading

WASHINGTON (dpa-AFX) - Stocks continue to turn in a strong performance in mid-day trading on Monday after showing a strong move to the upside early in the session. The major averages have all moved notably higher on the day, with the Dow posting a standout gain.Currently, the major averages are hovering firmly in positive territory. The Dow is up 51.321 points or 1.5 percent at 33,803.29, the Nasdaq is up 95.73 points or 0.7 percent at 14,126.10 and the S&P 500 is up 52.31 points or 1.3 percent at 4,218.76. The rebound on Wall Street partly reflects bargain hunting after the steep drop seen last Friday dragged the Dow down to its lowest closing level in well over two months.The Dow closed lower for five straight sessions and tumbled 3.4 percent last week, marking the worst week for the blue chip index since last October.Last week's sell-off came amid concerns about the outlook for monetary policy after the Federal Reserve latest projections called for two interest rates hikes in 2023.St. Louis Fed President Jim Bullard told CNBC's 'Squawk Box' the first rate hike by the Fed could come as soon as next year.Looking ahead, Fed Chair Jerome Powell is scheduled to testify before the House Select Subcommittee on the Coronavirus Crisis on Tuesday. Powell is due to discuss the Fed's response to the pandemic but could also face questions about the outlook for monetary policy.Reports on new and existing home sales, durable goods orders and personal income and spending may also attract attention in the coming days.Sector NewsEnergy stocks continue to turn in some of the market's best performances on the day, moving sharply higher along with the price of crude oil. Crude for July delivery is jumping $1.35 to $72.99 a barrel.Reflecting the strength in the energy sector, the Philadelphia Oil Service Index is up by 3.9 percent and the NYSE Arca Oil Index is up by 3 percent.Substantial strength also remains visible among banking stocks, as reflected by the 2.5 percent surge by the KBW Bank Index. The index is rebounding off a two-month closing low.Chemical stocks also continue to turn in a strong performance in mid-day trading, with the S&P Chemical Sector Index up by 2.2 percent after ending the previous session at its lowest closing level in over two months.Transportation, brokerage and steel stocks are also seeing notable strength on the day, regaining ground following recent weakness.Other MarketsIn overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Monday. Japan's Nikkei 225 Index plummeted by 3.3 percent, while Hong Kong's Hang Seng Index slumped by 1.1 percent.Meanwhile, the major European markets moved to the upside on the day. While the German DAX Index jumped by 1 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index climbed by 0.6 percent and 0.5 percent, respectively.In the bond market, treasuries are giving back ground after moving sharply higher over the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 2.3 basis points at 1.473 percent.Copyright RTT News/dpa-AFX
21.06.2021

U.S. Stocks Regaining Ground As Traders Go Bargain Hunting

WASHINGTON (dpa-AFX) - Stocks have moved mostly higher in morning trading on Monday, regaining ground following the weakness seen last week. The Dow and the S&P 500 have shown strong moves to the upside, while the tech-heavy Nasdaq is posting a more modest gain.In recent trading, the Dow and the S&P 500 have reached new highs for the session. While the Nasdaq is up 34.91 points or 0.3 percent at 14,065.29, the Dow is up 487.29 points or 1.5 percent at 33,777.37 and the S&P 500 is up 42.90 points or 1 percent at 4,209.35.The rebound on Wall Street partly reflects bargain hunting after the steep drop seen last Friday dragged the Dow down to its lowest closing level in well over two months.The Dow closed lower for five straight sessions and tumbled 3.4 percent last week, marking the worst week for the blue chip index since last October.Last week's sell-off came amid concerns about the outlook for monetary policy after the Federal Reserve latest projections called for two interest rates hikes in 2023.St. Louis Fed President Jim Bullard told CNBC's 'Squawk Box' the first rate hike by the Fed could come as soon as next year.Looking ahead, Fed Chair Jerome Powell is scheduled to testify before the House Select Subcommittee on the Coronavirus Crisis on Tuesday. Powell is due to discuss the Fed's response to the pandemic but could also face questions about the outlook for monetary policy.Reports on new and existing home sales, durable goods orders and personal income and spending may also attract attention in the coming days.Energy stocks are moving sharply higher along with the price of crude oil, with crude for July delivery jumping $1.36 to $73 a barrel.Reflecting the strength in the energy sector, the Philadelphia Oil Service Index is up by 3.7 percent and the NYSE Arca Oil Index is up by 3.2 percent.Considerable strength is also visible among chemical stocks, as reflected by the 2.2 percent surge by the S&P Chemical Sector Index. The index is bouncing off its lowest closing level in over two months.Financial, transportation and steel stocks are also seeing notable strength on the day, regaining ground following recent weakness.In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Monday. Japan's Nikkei 225 Index plummeted by 3.3 percent, while Hong Kong's Hang Seng Index slumped by 1.1 percent.Meanwhile, the major European markets have moved to the upside on the day. While the German DAX Index has advanced by 0.8 percent, the French CAC 40 Index is up by 0.4 percent and the U.K.'s FTSE 100 Index is up by 0.3 percent.In the bond market, treasuries are giving back ground after moving sharply higher over the two previous sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 3 basis points at 1.480 percent.Copyright RTT News/dpa-AFX
21.06.2021

U.S. Stocks May Regain Ground In Early Trading

WASHINGTON (dpa-AFX) - After moving notably lower last week, stocks are likely to move back to the upside in early trading on Monday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 182 points.Bargain hunting may contribute to initial strength on Wall Street after the steep drop seen last Friday dragged the Dow down to its lowest closing level in well over two months.The Dow closed lower for five straight sessions and tumbled 3.4 percent last week, marking the worst week for the blue chip index since last October.Last week's sell-off came amid concerns about the outlook for monetary policy after the Federal Reserve latest projections called for two interest rates hikes in 2023.St. Louis Fed President Jim Bullard told CNBC's 'Squawk Box' the first rate hike by the Fed could come as soon as next year.A lack of major U.S. economic data may keep some traders sidelines ahead of the release of reports on new and existing home sales, durable goods orders and personal income and spending in the coming days.Fed Chair Jerome Powell is also scheduled to testify before the House Select Subcommittee on the Coronavirus Crisis on Tuesday. Powell is due to discuss the Fed's response to the pandemic but could also face questions about the outlook for monetary policy.Following the mixed performance seen on Thursday, stocks moved mostly lower during trading on Friday. With the drop on the day, the Dow ended the session at its lowest closing level in over two months.The major averages came under pressure going into the close, with the Dow and the S&P 500 hitting new lows for the session. The Dow tumbled 533.37 points or 1.6 percent to 33,290.08, the Nasdaq slid 130.97 points or 0.9 percent to 14,030.38 and the S&P 500 slumped 55.41 points or 1.3 percent to 4,166.45.For the week, the Dow plunged by 3.4 percent, the S&P 500 tumbled by 1.9 percent and the tech-heavy Nasdaq fell by 0.3 percent.In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Monday. Japan's Nikkei 225 Index plummeted by 3.3 percent, while Hong Kong's Hang Seng Index slumped by 1.1 percent.Meanwhile, the major European markets have moved to the upside on the day. While the German DAX Index has climbed by 0.7 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index are both up by 0.2 percent.In commodities trading, crude oil futures are rising $0.16 to $71.80 barrel after climbing $0.60 to $71.64 a barrel last Friday. Meanwhile, after falling $5.80 to $1,769 an ounce in the previous session, gold futures are advancing $7.10 to $1,776.10 an ounce.On the currency front, the U.S. dollar is trading at 110.14 yen versus the 110.21 yen it fetched at the close of New York trading on Friday. Against the euro, the dollar is trading at $1.1887 compared to last Friday's $1.1864.Copyright RTT News/dpa-AFX
21.06.2021

Futures Point To Positive Open For Wall Street

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Initial cues from the U.S. Futures Index suggest that Wall Street might open higher on Monday.Investors might be reacting to reports on new and existing home sales, durable goods orders as well as personal income and spending. Congressional testimony of Federal Reserve Chairman Jerome Powell is scheduled on Tuesday.Asian shares finished mixed, while European shares are trading mostly higher.As of 7.50 am ET, the Dow futures were adding 189.00 points, the S&P 500 futures were up 14.75 points and the Nasdaq 100 futures were gaining 30.75 points.The U.S. major finished lower on Friday. The Dow tumbled 533.37 points or 1.6 percent to 33,290.08, the Nasdaq slid 130.97 points or 0.9 percent to 14,030.38 and the S&P 500 slumped 55.41 points or 1.3 percent to 4,166.45.On the economic front, Chicago Fed National Activity Index for May will be issued at 8.30 am ET. The consensus is for an increase of 0.50, while it was up 0.24 in the prior month. The Six-month Treasury bill auction will be held at 11.30 am ET. Asian stocks finished mixed on Monday. Chinese shares ended a tad higher. China's Shanghai Composite index ended up 4.09 points, or 0.12 percent, at 3,529.18 while Hong Kong's Hang Seng index fell 312.27 points, or 1.08 percent, to 28,489.Japanese shares plummeted. The Nikkei average plunged 953.15 points, or 3.29 percent, to 28,010.93. The broader Topx index closed 2.42 percent lower at 1,899.45.Australian markets registered their steepest fall in nearly five weeks. The benchmark S&P/ASX 200 index tumbled 133.60 points, or 1.81 percent, to finish at 7,235.30, while the broader All Ordinaries index ended down 139.10 points, or 1.82 percent, at 7,485.20.European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 4.08 points or 0.06 percent. The German DAX is adding 78.16 points or 0.51 percent, the U.K. FTSE 100 Index is down 4.48 points or 0.06 percent. The Swiss Market Index is adding 13.13 points or 0.11 percent.The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.28 percent.Copyright RTT News/dpa-AFX
21.06.2021

European Shares Rise Ahead Of Lagarde Speech

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - European stocks were seeing modest gains on Monday and yields held steady, as investors awaited a speech by ECB President Christine Lagarde before the European Parliament for directional cues. Analysts expect her to maintain the ECB's dovish stance, saying that it is too soon to consider tapering support. Elsewhere, St. Louis Federal Reserve President Jim Bullard offered a fresh dose of hawkishness, saying he sees an initial interest rate increase happening in 2022.The pan European Stoxx 600 edged up 0.3 percent to 453.21 after losing 1.6 percent on Friday. The German DAX, France's CAC 40 index and the U.K.'s FTSE 100 were up between 0.2 percent and half a percent.Banks fell broadly, with Deutsche Bank and Societe Generale losing about 1 percent on concerns that they could face challenges in their bond portfolios in a rising interest rate regime.Italian-American vehicle maker CNH Industrial rallied 2.1 percent after it agreed a deal to buy Raven Industries at an enterprise value of $2.1 billion.Vivendi shares rose half a percent in Paris. Hedge-fund billionaire William Ackman's Pershing Square Tontine Holdings Ltd. has agreed to acquire 10 percent of Universal Music Group from the French media conglomerate for about $4 billion, the companies said in a statement on Sunday.EssilorLuxottica SA shares were little changed. The ophthalmic company announced the renewal of its exclusive license agreement with American luxury lifestyle brand Tory Burch.British supermarket chain Morrisons Supermarkets jumped 32 percent following a takeover pursuit.The company confirmed an unsolicited highly conditional non-binding cash offer of 230 pence per share from Clayton, Dubilier & Rice Funds XI or CD&R.The Board, however, rejected the conditional proposal saying it significantly undervalues the firm. Tesco, Sainsbury and Ocado were up 2-5 percent.Travel-related stocks were moving lower as U.K. scientists warned of 'miserable winter' due to new respiratory viruses related to the Delta variant, which originated in India.Budget airline easyJet shed 0.6 percent, Ryanair edged down 0.2 percent and British Airways-owner IAG declined 0.8 percent.In economic releases, British households' optimism about their finances over the next twelve months reached its highest level in five years in the second quarter, survey results from IHS Markit showed.The headline Scottish Widows household finance index, which measures households' overall perceptions of financial wellbeing, rose to 44.7 in the second quarter from 42.0 in the first quarter.The indicator signaled the weakest deterioration in U.K. household finances since the COVID-19 pandemic began.Copyright RTT News/dpa-AFX
21.06.2021

FTSE 100 Recovers From An Early Slide

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks rebounded a little on Monday after hitting a one-month low earlier in the session on worries that high inflation could force the Fed to tighten its monetary policy sooner than expected. The benchmark FTSE 100 was up 13 points, or 0.2 percent, at 7,030, after having hit an intraday low of 6,948.63. The index lost 1.9 percent on Friday on concerns about an early increase in interest rates. Supermarket chain Morrisons Supermarkets jumped 32 percent following a takeover pursuit.The company confirmed an unsolicited highly conditional non-binding cash offer of 230 pence per share from Clayton, Dubilier & Rice Funds XI or CD&R. The Board, however, rejected the conditional proposal saying it significantly undervalues the firm. Tesco, Sainsbury and Ocado were up 2-5 percent. Travel-related stocks were moving lower as U.K. scientists warned of 'miserable winter' due to new respiratory viruses related to the Delta variant, which originated in India. Budget airline easyJet shed 0.6 percent, Ryanair edged down 0.2 percent and British Airways-owner IAG declined 0.8 percent. In economic releases, British households' optimism about their finances over the next twelve months reached its highest level in five years in the second quarter, survey results from IHS Markit showed.The headline Scottish Widows household finance index, which measures households' overall perceptions of financial wellbeing, rose to 44.7 in the second quarter from 42.0 in the first quarter.The indicator signaled the weakest deterioration in U.K. household finances since the COVID-19 pandemic began.Copyright RTT News/dpa-AFX
21.06.2021

CAC 40 Little Changed As Investors Unwind Reflation Trades

BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks were little changed in cautious trade on Monday as markets continued to see the reflation trades unwound. Tapering fears dented sentiment after a Fed official said inflation risks may warrant higher interest rates by 2022, a year sooner than his colleagues' projections.The benchmark CAC 40 was little changed at 6,563 after ending 1.5 percent lower on Friday. Banks led losses, with Societe Generale losing 1.3 percent on concerns that they could face challenges in their bond portfolios in a rising interest rate regime.Vivendi shares rose half a percent. Hedge-fund billionaire William Ackman's Pershing Square Tontine Holdings Ltd. has agreed to acquire 10 percent of Universal Music Group from the French media conglomerate for about $4 billion, the companies said in a statement on Sunday.EssilorLuxottica SA shares were slightly lower. The ophthalmic company announced the renewal of its exclusive license agreement with American luxury lifestyle brand Tory Burch. The agreement is for the development, production and worldwide distribution of sunglasses and prescription frames under the Tory Burch brand.Copyright RTT News/dpa-AFX
21.06.2021

Global FDI Flows To Recover 10-15% This Year: UNCTAD

OTTAWA (dpa-AFX) - Global foreign direct investment flows are set to pick up this year after a severe slump in 2020 as economic activity across the world was impacted by the coronavirus pandemic, a UN report showed Monday. FDI flows are expected to bottom out this year and recover some lost ground with an increase of 10-15 percent, the UNCTAD's latest World Investment Report said.The relatively modest recovery in global FDI projected for 2021 reflects lingering uncertainty about access to vaccines, the emergence of virus mutations and the reopening of economic sectors, the report said. 'This would still leave FDI some 25 percent below the 2019 level,' James Zhan, UNCTAD's director of investment and enterprise, said.'Current forecasts show a further increase in 2022 which, at the upper bound of projections, bring FDI back to the 2019 level.'Prospects are highly uncertain and will depend on, among other factors, the pace of economic recovery and the possibility of pandemic relapses, the potential impact of recovery spending packages on FDI, and policy pressures, UNCTAD said.Zhan pointed out that increased expenditures on both fixed assets and intangibles will not translate directly into a rapid FDI rebound, as confirmed by the sharp contrast between rosy forecasts for capex and still-depressed greenfield project announcements.The FDI recovery is expected to be uneven, largely driven by developed economies helped by strong cross-border mergers and acquisitions activity and large-scale public investment support.Asia will continue to attract significant FDI inflows as the region has stood out as an attractive destination for international investment throughout the pandemic, the report said.UNCTAD said a substantial recovery of FDI to Africa and to Latin America and the Caribbean is unlikely in the near term.The 35 percent slump last year due to the Covid-19 crisis was heavily skewed towards developed economies, the report said. The total value of FDI dropped to $1 trillion from $1.5 trillion in the previous year.Work on existing projects was hurt by the pandemic and the consequent lockdowns, while multinational enterprises were forced to reassess new projects due to the prospects of a recession. In 2020, FDIs to developed economies shrunk 58 percent, those to developing economies deceased only 8 percent, thanks to robust flows to Asia.Consequently, developing economies accounted for two thirds of global FDI, up from just under half in 2019, the report said.Copyright RTT News/dpa-AFX
21.06.2021

Latvia Producer Price Inflation Surges In May

BRUSSELS (dpa-AFX) - Latvia's producer prices increased for the fifth straight month in May, figures from the Central Statistical Bureau showed on Monday.The producer price index rose 8.3 percent year-on-year in May, following a 5.1 percent increase in April. Among components, prices for manufacturing rose 9.3 percent yearly in May and those of water supply grew 14.9 percent. Prices for mining and quarrying, and electricity, gas, steam and air conditioning supply gained 3.6 percent and 1.9 percent, respectively.On a month-on-month basis, producer prices rose by 2.1 percent in May. Domestic market prices rose 2.0 percent monthly in May and foreign market prices increased by 2.2 percent.Copyright RTT News/dpa-AFX
21.06.2021

Poland Industrial Production Rises In May

WARSAW (dpa-AFX) - Poland's industrial production rose in May, data from Statistics Poland showed on Monday.Industrial production grew 29.8 percent annually in May. Economists had expected a 29.0 percent growth.Manufacturing output accelerated 32.4 percent yearly in May and mining and quarrying output rose 5.5 percent. Electricity output and water supply gained by 14.0 percent and 17.4 percent, respectively.On a monthly basis, industrial output fell 0.8 percent in May. On a seasonally adjusted basis, industrial output increased 29.7 percent in May.For the January to May period, industrial production rose 18.1 percent.Copyright RTT News/dpa-AFX
21.06.2021

Taiwan Export Orders Increase More Than Expected

TAIPEI (dpa-AFX) - Taiwan's export orders increased more that expected in May, data from the Ministry of Economic Affairs showed on Monday.Export orders advanced 29.8 percent year-on-year in May. Economists had expected a 29.0 percent growth.Orders for mineral products accelerated 182.1 percent yearly in May and those of basic metals and articles thereof surged 95.3 percent. Demand for plastics and articles thereof, rubber and articles thereof increased 80.7 percent and transport equipment gained 73.8 percent.Demand for chemicals grew 64.1 percent and textile products rose 59.0 percent. Orders for machineries and electronic products increased by 55.1 percent and 40.3 percent, respectively. Bookings for optical, photographic, cinematographic apparatus gained 41.0 percent. Demand for others and electrical machinery products rose by 40.3 percent and 9.1 percent, respectively. On a monthly basis, export orders declined 4.8 percent in May.Copyright RTT News/dpa-AFX
21.06.2021

UK House Prices Rise To New Record High For Third Month: Rightmove

LONDON (dpa-AFX) - UK house prices increased to a new record high for the third consecutive month in June, property website Rightmove said on Monday.House prices increased by a moderate 0.8 percent month-on-month in June, which was slower than the 1.8 percent rise seen in May.Although this was the largest increase at this time of year since 2015, buoyed by the strength of both the top end of the market and hotspot lifestyle change locations, data indicates an early sign of slowing in the pace of the current hectic market, Rightmove said. The national average of property prices rose to a new record high for the third consecutive month. The average property prices totaled GBP 336,073. On a yearly basis, house price growth accelerated to 7.5 percent in June from 6.7 percent in May.Tim Bannister, Rightmove's Director of Property Data, said 'Higher prices combined with a lack of fresh choice coming to market are reducing some buyers' ability or desire to move, and while we expect the market to remain robust, there are early signs of a slackening in the incredible pace of activity that we've seen over the last year.'This super-charged activity cannot go on forever, but the market is expected to remain vigorous for at least the remainder of the year, Bannister added.Copyright RTT News/dpa-AFX
21.06.2021

Poland Producer Price Inflation Accelerates In May

WARSAW (dpa-AFX) - Poland's producer prices increased in May, data from Statistics Poland showed on Monday.Producer prices grew 6.5 percent annually in May, following a 5.5 percent increase in April. Economists had forecast a 6.0 percent rise.Prices in mining and quarrying grew 25.0 percent and prices in manufacturing rise 6.3 percent. Prices for electricity, gas supply, steam and hot, and water supply, sewerage and waste management prices increased by 3.1 percent and 3.6 percent, respectively.On a month-on-month basis, producer prices rose 0.8 percent in May, after a 0.7 percent gain in the prior month.Copyright RTT News/dpa-AFX
21.06.2021

UK Households' Optimism Towards Future Finances Improve In Q2

LONDON (dpa-AFX) - British households' optimism about their finances over the next twelve months reached its highest level in five years in the second quarter, survey results from IHS Markit showed on Monday. The headline Scottish Widows household finance index, which measures households' overall perceptions of financial wellbeing, rose to 44.7 in the second quarter from 42.0 in the first quarter.The indicator signaled the weakest deterioration in UK household finances since the Covid-19 pandemic began. The reduced financial strain also supported sentiment towards household finances over the coming year. For the first time since the first quarter of 2016, British households expect their financial wellbeing to improve over the coming year, with 18-34-year-olds particularly upbeat about their financial outlook.The survey showed that more households are planning to use savings they have made during the pandemic to bolster their financial resilience. One in seven expects to increase their pension contributions in next year. More than two-thirds expect to stay on track with retirement plans despite pandemic.Copyright RTT News/dpa-AFX
21.06.2021

Estonia Producer Prices Rise In May

BRUSSELS (dpa-AFX) - Estonia's producer prices increased in May, data from Statistics Estonia showed on Monday.The producer price index grew 8.4 percent year-on-year in May.On a month-on-month basis, producer prices rose 1.6 percent in May. 'Compared to May 2020, the index was affected the most by increased prices in the manufacture of wood and wood products, in electricity production and in the manufacture of electronic equipment,' Eveli Sokman, leading analyst at Statistics Estonia, said.Import prices rose 1.1 percent monthly in May and gained 11.9 percent from a year ago.Export prices grew 1.5 percent monthly in May and increased 11.1 percent yearly.Copyright RTT News/dpa-AFX
21.06.2021

Dollar Weakens Against Other Major Currencies

WASHINGTON (dpa-AFX) - The U.S. dollar retreated from two month highs and posted losses against its major rivals on Monday after a couple of Federal Reserve officials said more progress is needed before Fed should start to scale back some of its economic support.Fed Chair Jerome Powell is set to appear before U.S. lawmakers on Tuesday to provide an update on the central bank's support for the economy through the pandemic. Investors look ahead to his comments to know if he confirms the hawkish outlook.New York Fed President John Williams and Boston Fed chief Eric Rosengren are also among the several Fed officials scheduled to speak this week at various places.The dollar index dropped to 91.83 this afternoon, and was last seen at 91.86, down nearly 0.4% from the previous close.Against the Euro, the dollar weakened to $1.1920, giving up nearly 0.5%. European Central Bank President Christine Lagarde reiterated today that the central bank will continue to support the eurozone economy by continuing its accommodative monetary policy.The Pound Sterling strengthened against the dollar, fetching $1.3927 a unit, compared with $1.3802 Friday evening.Against the Yen, the dollar gained marginally, advancing to 110.30 yen, up from 110.23.The Aussie strengthened to US$0.7541, rising more than 0.8% from the previous close of US$0.7479.The Swiss franc weakened to 0.9216 a dollar, sliding from 0.9180. The Loonie firmed to C$1.2362 a dollar from C$1.2465, after crude oil prices rose sharply.Copyright RTT News/dpa-AFX
21.06.2021

Pound Climbs Amid Risk Appetite

BRUSSELS (dpa-AFX) - The pound appreciated against its major rivals in the European session on Monday, as European shares recouped its losses spurred by the U.S. Federal Reserve's hawkish policy outlook.The U.S. yield curve flattened amid expectations that the Fed will act sooner to curb rising inflation pressures.ECB President Christine Lagarde will speak before the European Parliament later in the day, with investors expecting no changes in monetary policy.The ECB policymakers meeting had made 'good progress' in developing its strategic goals on inflation and climate action, Lagarde said on Sunday.The Bank of England's monetary policy announcement is due on Thursday. Markets will be watching for any shift in tone following the latest hawkish shift by the U.S. central bank last week.Data from property website Rightmove showed that UK house prices increased to a new record high for the third consecutive month in June.House prices increased by a moderate 0.8 percent month-on-month in June, which was slower than the 1.8 percent rise seen in May.The pound rose to 0.8561 against the euro and 1.2795 against the franc, up from its early 5-day low of 0.8602 and a 4-day low of 1.2715, respectively. Immediate resistance for the pound is seen around 0.84 against the euro and 1.30 against the franc. The pound edged up to 1.3888 against the greenback and 152.92 against the yen, after falling to more than a 2-month low of 1.3786 and a 1-1/2-month low of 151.31, respectively. The pound is likely to find resistance around 1.40 against the greenback and 154 against the yen.Copyright RTT News/dpa-AFX
21.06.2021

Japanese Yen Advances On Fed Rate Outlook

CANBERA (dpa-AFX) - The Japanese yen climbed against its major rivals during the Asian session on Monday, as investors weighed the impact of a hawkish shift by the U.S. Federal Reserve and focused on upcoming economic data and comments from policymakers for more clues on the timing of tapering and potential rate hikes.Comments from St. Louis Fed President James Bullard that inflation risks may force the Fed to raise rates as early as next year added to worries.The rapid economic growth is bringing faster-than-expected inflation, which could warrant a liftoff in late 2022, Bullard said in an interview with CNBC on Friday.Investors look forward to Fed Chairman Jerome Powell's testimony on Tuesday for more details on the central bank's COVID-19 emergency lending and its asset purchase programs.The treasury yield curve flattened further with 10-year yields declining to 1.42 percent and 30-year yields dropping below 2 percent.U.S. bond yields were weighed by falling inflation expectations, which touched around 2.24 percent.The yen appreciated to near 2-month highs of 87.96 against the loonie, 130.04 against the euro and 118.87 against the franc, from its prior lows of 88.64, 130.89 and 119.57, respectively. The yen is poised to find resistance around 86.00 against the loonie, 128.00 against the euro and 115.5 against the franc.The yen reversed from its early lows of 152.44 against the pound and 110.26 against the greenback, rising to a 1-1/2-month high of 151.31 and a 1-week high of 109.72, respectively. The yen is seen finding resistance around 149.00 against the pound and 108.00 against the greenback.Recovering from its previous lows of 82.77 against the aussie and 76.73 against the kiwi, the yen firmed to a 3-1/2-month high of 82.13 and near a 3-month high of 76.22, respectively. Next key resistance for the currency is seen around 80 against the aussie and 74.00 against the kiwi.Copyright RTT News/dpa-AFX
18.06.2021

Dollar Extends Gains Against Rivals

WASHINGTON (dpa-AFX) - The U.S. dollar turned in another fine performance, gaining significant ground against its major rivals on Friday, as it continued to benefit from a hawkish policy outlook from the Federal Reserve.While announcing its monetary policy on Wednesday, the Fed signaled that it would raise interest rates by 2023, and also likely taper its bond-buying plan sometime sooner than expected.Fed Chairman Jerome Powell indicated during his post meeting press conference on Wednesday that the members have started discussions about scaling back the bond purchase program given higher inflation and faster economic growth.The dollar index rose to 92.41, its highest level since mid-April. Despite paring some gains subsequently, the index remains quite high up at 92.28, more than 0.4% up from the previous close.Against the Euro, the dollar firmed to $1.1867, gaining about 0.35%. The euro area current account surplus totaled EUR 23 billion in April versus EUR 18 billion surplus in the previous month, the European Central Bank reported.The Pound Sterling was down too, fetching $1.3808 a unit, compared to $1.3926 on Thursday. Data from the Office for National Statistics showed that retail sales in the UK dropped 1.4% month-on-month in May, reversing a 9.2% rise in April and confounding expectations for an increase of 1.6%.On a yearly basis, the retail sales volume growth moderated to 24.6% in May from 42.4% a month ago. This was also slower than the expected expansion of 29%.Against the Yen, the dollar was slightly weak at 110.19.The dollar strengthened to 0.7490 against the Aussie, gaining from 0.7552 a unit.Against Swiss franc the dollar gained, fetching CHF 0.9224 a unit, as against CHF 0.9175 Thursday evening.The Loonie weakened to 1.2440 a dollar, declining from 1.2358.Copyright RTT News/dpa-AFX
18.06.2021

Loonie Little Changed Following Canada New Housing Price Index

CANBERA (dpa-AFX) - Canada new housing price index for May has been released at 8.30 am ET Friday. The loonie changed little against its major counterparts after the data.The loonie was trading at 89.00 against the yen, 0.9292 against the aussie, 1.4713 against the euro and 1.2379 against the greenback around 8:35 am ET.Copyright RTT News/dpa-AFX
18.06.2021

Loonie Mixed Ahead Of Canada New Housing Price Index

CANBERA (dpa-AFX) - Canada new housing price index for May is due at 8.30 am ET Friday. Ahead of the data, the loonie traded mixed against its major counterparts. While it rose against the aussie, it held steady against the euro. Against the yen and the dollar, it fell.The loonie was worth 88.97 against the yen, 0.9292 against the aussie, 1.4721 against the euro and 1.2394 against the greenback at 8:25 am ET.Copyright RTT News/dpa-AFX
18.06.2021

Japanese Yen Appreciates On Continued Fed Tightening Concerns

CANBERA (dpa-AFX) - The Japanese yen drifted higher against its major rivals during the European session on Friday, as investors digested the U.S. Federal Reserve's hawkish shift in monetary policy, signaling earlier rate hikes and winding down of the bond purchase program to rein in inflationary pressures.The Fed penciled in two potential rate hikes in 2023 and indicated that it had begun talks about the process for withdrawing bond buying program.U.S. treasury yields declined amid expectations that rate hikes would keep inflation under control.Commodities fell amid a high dollar in the wake of earlier-than-expected rate hikes amid faster economic growth and strong inflation.The Bank of Japan maintained its massive monetary stimulus, as widely expected, and extended the duration of the special funding programme to help struggling firms.The board, governed by Haruhiko Kuroda, voted 7-1, with 1 abstention, to hold the interest rate at -0.1 percent on current accounts that financial institutions maintain at the central bank.The bank will continue to purchase a necessary amount of Japanese government bonds without setting an upper limit so that 10-year JGB yields will remain at around zero percent.The Bank decided to extend the duration of the Special Program to Support Financing in Response to the Novel Coronavirus by six months until the end of March 2022 with a view to continuing to support financing, mainly of firms.The yen rebounded from its early lows of 110.33 against the greenback and 131.43 against the euro and advanced to a 2-day high of 109.94 and near a 2-month high of 130.81, respectively. The currency is likely to challenge resistance around 108.00 against the greenback and 129.00 against the euro.The yen moved up to 1-1/2-month highs of 119.70 against the franc, 152.46 against the pound and 88.84 against the loonie, after weakening to 120.22, 153.77 and 89.37, respectively in previous deals. If the yen rises further, it may test resistance around 117.00 against the franc, 149.00 against the pound and 87.00 against the loonie.Reversing from its prior lows of 83.38 against the aussie and 77.41 against the kiwi, the yen firmed to near a 3-month high of 82.76 and more than a 2-month high of 76.72, respectively. On the upside, 80.00 and 75.00 are possibly seen as its next resistance levels against the aussie and the kiwi, respectively.Looking ahead, Canada new housing price index for May is set for release in the New York session.Copyright RTT News/dpa-AFX
18.06.2021

Pound Declines Amid Dismal U.K. Retail Sales Data

BRUSSELS (dpa-AFX) - The pound depreciated against its major counterparts in early European deals on Friday, after a data showed that the nation's retail sales dropped unexpectedly in May after a sharp surge in April when retail restrictions were eased. Data from the Office for National Statistics showed that retail sales dropped 1.4 percent month-on-month in May, reversing a 9.2 percent rise in April and confounding expectations for an increase of 1.6 percent.Excluding auto fuel, retail sales dropped 2.1 percent after rising 9.1 percent in the previous month. Sales were forecast to climb 1.5 percent.On a yearly basis, the retail sales volume growth moderated to 24.6 percent in May from 42.4 percent a month ago. This was also slower than the expected expansion of 29 percent.Sales, excluding auto fuel, logged an annual growth of 21.7 percent versus 37.7 percent expansion seen in April and economists' forecast of 27.3 percent.Caution prevailed over the Fed's plans to start tapering its bond purchase program and an earlier than expected tightening of monetary policy.The pound weakened to 1-1/2-month lows of 152.46 against the yen and 1.3855 against the greenback, off its prior highs of 153.77 and 1.3944, respectively. The pound is seen finding support around 149.00 against the yen and 1.36 against the greenback.The pound dropped to a 2-day low of 0.8588 against the euro, after a rise to 0.8543 at 8 pm ET. The next likely support for the pound is seen around the 0.88 level.The pound retreated from more than a 2-week high of 1.2799 against the franc, with the pair worth 1.2716. Should the pound falls further, 1.25 is possibly seen as its next support level.Looking ahead, Eurozone current account for April will be published in the European session.Canada new housing price index for May is set for release in the New York session.Copyright RTT News/dpa-AFX
18.06.2021

Australian Dollar Falls In Cautious Trade

CANBERA (dpa-AFX) - The Australian dollar fell against its most major opponents in the Asian session on Friday, as investors weighed the prospects of a sooner-than-expected tightening of monetary policy by the U.S. Federal Reserve.The Fed brought forward its projections for interest rate hikes into 2023 and indicated that officials had started talks about the process for withdrawing bond buying program.The Fed's hawkish shift triggered a sharp pullback in the equity markets as the economy remained 'a ways off' from reaching the employment goal.Investors are pondering the possible timing of the start of winding down the QE program.Oil prices fell amid a high dollar, as the Fed penciled in two potential rate hikes in 2023, faster than projected by policymakers.The aussie weakened to near a 6-month low of 0.7511 against the greenback and near a 3-month low of 82.76 against the yen, pulling away from its prior highs of 0.7561 and 83.38, respectively. The next possible support for the currency is seen around 0.72 against the greenback and 80.00 against the yen.The aussie reversed from its previous highs of 1.5752 against the euro and 0.9336 against the loonie, declining to a fresh 2-week low of 1.5844 and a 2-week low of 0.9297, respectively. The aussie may locate support around 1.60 against the euro and 0.90 against the loonie.In contrast, the aussie rose to a 2-day high of 1.0805 against the kiwi from Thursday's close of 1.0769. If the aussie rises further, 1.10 is likely seen as its next resistance level. Looking ahead, Eurozone current account for April will be published in the European session.Canada new housing price index for May is set for release in the New York session.Copyright RTT News/dpa-AFX
18.06.2021

Euro Little Changed Following German PPI

BRUSSELS (dpa-AFX) - Germany's producer price data has been released at 2.00 am ET Friday. The euro changed little against its major counterparts after the data.The euro was trading at 130.01 against the yen, 1.0927 against the franc, 0.8564 against the pound and 1.1903 against the greenback around 2:05 am ET.Copyright RTT News/dpa-AFX

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