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US Dollar (DXY) Index News: Greenback Slips as PCE Data Sparks Rate Cut Hopes – FX Empire

PCE report meets expectations The Federal Reserve’s (Fed) favorite inflation measure, the PCE price index, rose 0.1% month-on-month and 2.5% year-on-year in June, in line with consensus expectations. Core PCE, which excludes food and energy, rose 0.2% month-on-month and 2.6% year-on-year, also in line with expectations. These figures suggest that inflation is gradually declining but […]

Porsche slips 5% after lowering profit outlook over alloy shortage

Luxury car maker Porsche fell more than 5 percent on Tuesday after it sharply cut its outlook for future sales and profits. Quote Unexpected aluminum alloy supply shortage. The German carmaker said floods at an undisclosed European contractor have hit supplies of aluminum alloys, affecting production of all its models and potentially leading to the […]

Euro slips on French gridlock; dollar weak after payrolls surprise – Yahoo Finance

Kevin Buckland and Amanda Cooper TOKYO/LONDON (Reuters) – The euro recovered overnight losses to stabilize on Thursday, while the dollar weakened, after France’s general election showed signs of a divided government. The dollar continued to trend lower after Friday’s unexpectedly weak U.S. employment data strengthened expectations that the Federal Reserve will soon start cutting interest […]

Construction Spending Slips in May Amid High Interest Rates

U.S. construction spending took a hit in May as high interest rates prompted companies and homebuilders to pull back on projects. However, government spending increased slightly from the previous month. Department of Commerce report Spending on construction projects fell 0.1% to $2.1 trillion annually on Monday, missing Wall Street expectations of a 0.2% increase. Given […]

Brandon Nimmo slips in hotel room, cuts forehead in Mets calamity

The rising Mets faced an injury crisis ahead of their series against the Nationals when manager Carlos Mendoza said Brandon Nimmo slipped and cut his forehead in his hotel room while going to the bathroom in the middle of the night. The outfielder immediately contacted the team trainer and was examined at a hospital on […]