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(Bloomberg) — European stocks advanced on a busy day for company earnings with optimism growing that the Federal Reserve will start cutting interest rates this year. The Stoxx 600 index rose 0.6% as UBS Group AG jumped more than 6% after it returned to profit and UniCredit SpA climbed on better-than-forecast results. US futures were…
In the aftermath of RBA's decision to maintain interest rates unchanged and the absence of explicit hawkish signals, Australian Dollar weakens mildly. Despite notable upgrades in inflation forecasts, the central bank opted for a cautious approach, refraining from signaling imminent rate hikes and maintaining a stance of "not ruling anything in or out." Recent stronger-than-expected inflation data did not push RBA closer to resume monetary tightening, at least for the time being.
HONG KONG, May 7 — Most markets built on the latest global rally today as optimism that the US Federal Reserve will cut interest rates this year continued to breeze through...
Willaims and Barkin feature
As the market transitions into US session, Australian Dollar maintains its position as the strongest currency of the day. While no significant economic data is expected from the US or Canada, the focus shifts to appearances by SNB Chair Thomas Jordan, as well as Fed officials Thomas Barkin and John Williams. However, traders are expected to look through these events, anticipating insights from the RBA's decision.