The Canadian dollar declined to a two-month low versus its U.S. counterpart after the annual inflation rate fell in April to its slowest in more than three years, bolstering the case for lower interest rates.
Wells Fargo & Co., citing “new facts,” asked a judge to revoke the class-action status he bestowed on a suit by institutional investors who claimed the bank marketed a risky securities-lending program as safe.
Russia’s economy grew at the weakest pace since 2009 in the first quarter as the euro area’s longest recession hurt demand for commodity exports and investment at companies including OAO Gazprom cooled.
Canada’s annual inflation rate fell in April to its slowest in more than three years, taking it below the central bank’s target band and adding to evidence of growing slack in the world’s 11th largest economy.
Turkey’s bonds rallied, sending yields to all-time lows, after Moody’s Investors Service raised the country to investment grade for the first time in two decades, fueling expectation of capital inflows. The lira weakened on speculation the central bank will cut rates.