European stocks closed lower on Thursday on concerns the Federal Reserve might not reduce interest rates more than one time this year despite soft consumer price and producer price inflation data.
WASHINGTON (dpa-AFX) - The U.S. dollar gained against some of its major counterparts on Thursday with investors continuing to react to the data on U.S. consumer price and producer price inflation
Canadian stocks closed sharply lower on Thursday as fading hopes of a series of rate cuts by the Federal Reserve this year, and weak commodity prices rendered the mood bearish.
Gold prices climbed higher to settle on a strong note on Wednesday as the dollar lost ground after soft consumer price inflation data from the Labor Department eased concerns about the outlook for interest rates ahead of the monetary policy announcement by the Federal Reserve.
Despite data showing an unexpected jump in crude oil inventories in the U.S. in the week ended June 7th, oil prices climbed higher on Wednesday on hopes of increased demand, and tighter supply conditions later in the year.