Category: Economic
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Economic calendar Asia Thursday, September 26: Bank of Japan meeting minutes, RBA info too
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Federal Reserve Cuts Interest Rates by 50 Basis Points to Address Economic Uncertainty
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The US Federal Reserve today made a major decision to cut interest rates by 50 basis points, reducing the federal funds rate range to 4.75% – 5%. The move, the first major cut in more than four years, reflects concerns about the state of the US economy, despite the continued…
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US committed to Bangladesh’s economic growth, to give $202 million more in aid By Reuters
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Written by Roma Paul DHAKA (Reuters) – The United States is committed to supporting inclusive economic growth, institution building and development in Bangladesh and will provide an additional $202 million in aid, a U.S. mission said on Sunday during a visit to Dhaka. The six-member delegation, led by Treasury Under…
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Nasdaq CEO: U.S. economic growth would be 0.5% higher if it weren’t for fraud
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If financial crime were a sector of the U.S. economy, it would be on par with accommodation and food services—money laundering activity would account for 3.1% of national GDP in 2023. Despite its scale, financial crime remains a largely hidden epidemic, spanning jurisdictions and borders and underpinning many of society’s…
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U.K. Economic Growth Stagnated in July 2024
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The latest update on UK economic activity reveals a stagnant picture for July 2024, with flat GDP growth and mixed performance across sectors, likely leaving the Bank of England in a delicate position as it considers future monetary policy decisions. Key points: UK GDP recorded no growth (0.0%) in July…
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A lighter US economic calendar is a chance to focus on China woes
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Xi Jinping The Federal Reserve is entering a blackout period even after the FOMC decision, and the US economic calendar is light today, with only wholesale inventories and employment trends. This will give the market a chance to catch its breath after a hectic week at the start of the…
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Turkish firms face wave of closures amid economic reckoning By Reuters
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Written by Seda Caglayan and Ezgi Erkoyun COROM, Turkey (Reuters) – It is hard for Dogan Duman to see how he can keep his clothing factory in central Turkey open much longer, even after firing a third of his staff to cut costs that have soared for companies across the…
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China Deflation Risk Grows as Signs of Economic Weakness Mount
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Breadcrumbs Path Links PMN Business China’s core inflation slowed to its lowest in more than three years, adding to signs that policymakers are struggling to stimulate household spending and putting further pressure on the annual growth target. Article author: Bloomberg News Bloomberg News Published on September 8, 2024 • Read…
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Economic calendar in Asia Monday, September 9, 2024 – Chinese inflation data for August
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High Risk Warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage also creates additional risks and exposure to loss. Before deciding to trade foreign exchange, carefully consider your investment objectives, level of experience, and risk tolerance. You may lose some…
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Brits turn to ‘sweet treat economy’ for mood boosts amid economic challenges
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Despite a blistering summer, high interest rates and looming tax rises, Britons are spending more on small luxuries such as pastries and cosmetics, a trend Barclaycard has dubbed the “confectionery economy”. According to Barclaycard, consumer spending on cards rose 1% in August after two months of decline, with nearly half…
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China warns Japan of economic reprisal if potential new chip curbs are imposed
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HH 5800 China has warned of tough economic retaliation against Japan if it continues to impose restrictions on its sales and maintenance of chipmaking equipment to Chinese companies, Bloomberg News reported. Senior Chinese officials have reiterated this position in recent meetings with their Japanese counterparts, the report said. Added Quoted…
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A growing rift at the ECB on the economic outlook?
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Well, that’s the potential disagreement that could affect the interest rate cut debate in the coming months. Reports suggest that some policymakers want to focus more on recession fears while others insist on holding firm on the inflation battle. It’s pretty much certain that interest rates will be cut in…
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Weekly U.S. economic data roundup: Year-ahead inflation expectations at 2020 levels
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Prime Minister Pictures Last week was a busy week for Wall Street in terms of economic data, with the Federal Reserve’s preferred inflation gauge coming in the spotlight on Friday. Notably, inflation expectations for the coming year from both the Conference Board and the University of Michigan dropped to 1.3%.…
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Keir Starmer aims to reset Brexit relations with German economic deal
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British Prime Minister Keir Starmer is negotiating a new treaty with Germany to secure priority access for British companies, a strategic attempt to repair the UK’s fractured relationship with the European Union after Brexit. Starmer described Brexit as a “once-in-a-generation opportunity” and stressed the need to “move beyond the crisis”…
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Powell’s Path: Rate cuts and economic outlook after Jackson Hole Summit
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The Jackson Hole Summit concluded, highlighting Fed Chair Powell’s speech on Friday, in which he explicitly laid out the path for a September rate cut. The cut would be the first policy change since July 2023, when the Fed raised rates by 25 basis points to a high target of…
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Russia to Launch 2 Crypto Exchanges Aimed at Foreign Economic Activity—Details
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To boost its offshore economic activity, Russia plans to launch two major cryptocurrency exchanges in its region — one in Moscow and the other in St. Petersburg. According to a reportThe initiative highlights Russia’s “strategic” move to integrate digital assets into its economy, focusing on the creation and use of…
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Russia to Launch 2 Crypto Exchanges Aimed at Foreign Economic Activity—Details
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To boost its offshore economic activity, Russia plans to launch two major cryptocurrency exchanges in its region — one in Moscow and the other in St. Petersburg. According to a reportThe initiative highlights Russia’s “strategic” move to integrate digital assets into its economy, focusing on the creation and use of…
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Russia to Launch 2 Crypto Exchanges Aimed at Foreign Economic Activity—Details
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To boost its offshore economic activity, Russia plans to launch two major cryptocurrency exchanges in its region — one in Moscow and the other in St. Petersburg. According to a reportThe initiative highlights Russia’s “strategic” move to integrate digital assets into its economy, focusing on the creation and use of…
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Japan rises on positive PMI, others muted amid economic uncertainty By Investing.com
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Most Asian stocks rose on Thursday amid growing optimism about lower U.S. interest rates, but overall gains were limited as a downward revision to payrolls data rattled markets. Japanese stocks posted their best performance on record on the day as purchasing managers’ index data showed sustained growth in the country’s…
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US stock futures rise as strong data clears economic fears By Investing.com
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U.S. stock index futures rose in overnight trading on Thursday as Wall Street posted extended gains after strong retail sales and jobless claims data helped ease concerns about a slowing economy. Weak inflation data earlier in the week boosted bets that the Federal Reserve will cut interest rates in September,…