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By Leo Marchandon and Olivier Sorgho (Reuters) – Household savings in the euro zone rose to their highest level in about three years while investments continued to fall in the first quarter of 2024, the European Union’s statistics office said on Thursday. Europeans have long saved more than their U.S. counterparts and the gap has …

Euro zone household savings highest since 2021, but investments fall Read More »

FRANKFURT (Reuters) -European Central Bank policymakers were mostly confident that inflation would continue to fall but some felt uneasy about cutting interest rates last month given a slew of negative surprises, the accounts of their meeting showed on Thursday. The ECB cut rates on June 6 after de facto promising a move but said that …

ECB accounts show worries about stalling disinflation Read More »

BERLIN (Reuters) – German industrial orders fell unexpectedly in May, a fifth consecutive drop that adds to signs that manufacturing in Europe’s largest economy will not recover in the coming months. Orders were down by 1.6% on the previous month on a seasonally and calendar-adjusted basis, the federal statistics office said on Thursday. Analysts polled …

German industrial orders unexpectedly fall in May Read More »

(Reuters) – Toronto area home sales rose in June after four straight months of decline, following Canada’s first interest-rate cut in more than four years, while prices rose marginally, data showed on Thursday. Seasonally adjusted sales rose by 4.2% in June from May, according to Toronto Regional Real Estate Board (TRREB) data. Average home prices …

Toronto area home sales rise in June, halt four-month slide Read More »

(Reuters) – Foreign purchases boosted Japanese stocks last week amid a weakening yen and global enthusiasm for artificial intelligence-linked companies, which tempered concerns about the Bank of Japan’s policy outlook. According to exchange data, cross-border investors snapped up Japanese stocks worth a net 604.93 billion yen in the week ending June 28, marking their largest …

Japanese stocks gain biggest weekly foreign inflow in 2-1/2 months Read More »

FRANKFURT (Reuters) – The European Central Bank’s wage tracker and feedback from corporations both show that wage pressures are cooling and will continue to ease into next year and 2026, ECB chief economist Philip Lane said on Thursday. “The reason why we think inflation will come down … next year is that this is the …

ECB continues to see easing wage pressures, chief economist says Read More »

By Nevzat Devranoglu ANKARA (Reuters) – Turkey’s central bank is determined to combat soaring prices and will stick patiently to its tight policy stance, Governor Fatih Karahan told Reuters, as a series of aggressive rate hikes start to bring down sky-high inflation. “We will maintain tightness and wait for data and expectations to get in …

Exclusive-Turkish central bank chief ‘extremely determined’ to curb inflation Read More »

A look at the day ahead in European and global markets from Wayne Cole. It’s been a generally upbeat day so far in Asia as softer U.S. data burnished the case for a September rate cut from the Federal Reserve. The main event in Europe will be the UK election, where the only real unknown …

Morning Bid: Bets mount for US rate cut, UK political shake up Read More »