Russia's central bank cut its key interest rate by 0.5% to 9.25% on Friday
|-
European equity markets traded in a narrow range today, losing slightly ground. US equity markets opened nearly unchanged with Nasdaq outperforming (+0.3%).
-
EMU inflation rebounded in April, with the annual rate climbing to 1.9% after taking a surprisingly large tumble in the previous month. Encouragingly for policymakers, a core measure of inflation which strips out changes for oil and food prices also shot up, rising from 0.7% in March to 1.2%. That is its highest reading since 2013.
-
The US economy's output grew at the slowest pace in three years during the first quarter, underscoring the challenges facing the Trump administration as it seeks to rev up economic growth. Growth slackened to 0.7% Q/Q annualised from 2.1% in Q4 2016 and below 1% consensus. Price indicators surprised on the upside though.
-
The Chicago PMI rose from 57.7 to 58.3 in April, the highest level since early 2015, while consensus predicted a decline to 56.2.
-
The UK economy slowed sharply in the first quarter as consumers pared back spending, a warning sign on growth ahead of a national election in June and the start of Britain's exit talks with the EU. Q1 GDP printed at 0.3% Q/Q, down from 0.7% Q/Q in Q4 2016 and below 0.4% Q/Q expectations.
-
Russia's central bank cut its key interest rate by 0.5% to 9.25% on Friday, citing the country's continued emergence from a two‐year recession. The bank said inflation, currently at 4.3%, remained on track to hit its longstanding target of 4% by year's end, allowing for further gradual cuts in rates over the course of the year.
-
US President Trump said a "major, major conflict" with North Korea was possible over its nuclear and ballistic missile programmes, while China said the situation on the Korean peninsula could escalate or slip out of control.
-
Major dealers have backed the broader use of a BoE interest rate benchmark as an alternative to Libor, a rate that was tarnished by a rigging scandal. Support for SONIA, the sterling overnight index average, as its preferred "near risk‐free" interest rate benchmark in sterling derivatives and other financial contracts, will improve the resilience of the financial system, the BoE said.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.