The dollar has stabilized after reaching a four-week high against other major currencies, reflecting the anticipation among traders for vital U.S. inflation data and the Federal Reserve’s forthcoming interest rate projections. Following a robust jobs report last Friday, which hinted at persistent inflation alongside robust growth, the likelihood of the Fed reducing rates in the
Economy
Poland is facing increasing expenditure needs related to infrastructure, climate risks, and security costs due to the war in Ukraine. The IMF official emphasized the importance of setting a “very high bar” for further fiscal loosening in order to address these needs. Prime Minister Donald Tusk’s government has already implemented measures such as hiking public
The markets in Asia have been carefully monitoring the aftermath of the rise of right-wing parties in the European Union and how it might affect the unity of the bloc. Despite this uncertainty, EUROSTOXX 50 futures managed to increase by 0.2%, showing some stability after a slight decline on Monday. Similarly, the FTSE futures remained
China, as the biggest official sector buyer of gold, has been steadily increasing its gold reserves over the past 18 months. However, official data from the People’s Bank of China (PBOC) in May showed that their holdings remained unchanged. This news caused a sharp drop in global spot prices, but industry players believe that China
Pakistan’s coalition government is gearing up to unveil its ambitious fiscal targets in the upcoming budget for the year 2024/2025. The budget, which is set to be announced on Wednesday, is expected to play a crucial role in solidifying Pakistan’s case for a new bailout deal with the International Monetary Fund (IMF). The country is
The recent shock announcement by French President Emmanuel Macron calling for a snap election after disappointing results in the European Union vote has sent ripples through global markets. The euro plummeted to a one-month low of $1.0764 and reached a 21-month low against the pound. EuroSTOXX 50 equity futures and French bond futures also took
Recent data from the Recruitment and Employment Confederation (REC) in Britain indicates that the decline in permanent hiring by employers in the country has been the least severe in over a year. This encouraging trend suggests that the recruitment market may be on the path to recovery, providing hope for both job seekers and the
The recent departure of Chanel’s top designer has sent shockwaves through the luxury fashion industry, prompting speculation about the future direction of the brand. Chanel, along with other major players like Louis Vuitton and Dior, has relied heavily on marketing new styles from high-profile designers and increasing retail prices to drive sales growth. However, with
Recent developments reveal that U.S. officials are anticipating the Group of Seven (G7) wealthy democracies to issue a stern warning to smaller Chinese banks. This warning is expected to focus on these banks aiding Russia in evading Western sanctions. Leaders gathering in Italy on June 13-15 are likely to center their discussions on the threat
Israeli Finance Minister Bezalel Smotrich has set the stage for a unique and intensive process, calling for talks next week to draft the 2025 state budget. Describing the discussions as “marathon,” Smotrich aims to move the country’s economy forward from the strains imposed by recent conflicts to a focus on growth. Smotrich, in a letter
President Emmanuel Macron of France and President Joe Biden of the United States have expressed their commitment to working together to prevent a broader escalation in the Middle East. Macron emphasized the importance of avoiding a regional explosion, particularly in Lebanon, during Biden’s state visit to France. Reducing Tensions in Lebanon Macron announced that they
The recent decision by the European Central Bank to cut its benchmark interest rate has stirred discussions about the future direction of borrowing costs in the Eurozone. Despite the rate cut, ECB policymaker Robert Holzmann remains cautious about labeling it as a definitive shift towards lower borrowing costs. As the head of Austria’s central bank,