French Prime Minister Michel Barnier, a seasoned conservative politician who previously made a name for himself negotiating Brexit, now faces the challenging task of leading a country divided by deep political fault lines. This comes after President Emmanuel Macron appointed him as his prime minister, following a snap legislative election that resulted in a hung
Economy
The recent report from the Labor Department shows a decline in the number of Americans filing new applications for jobless benefits. This decrease comes as layoffs in the US job market remain low, which could potentially ease concerns about the state of the labor market. The weekly jobless claims report is viewed as the most
The repercussions of soft U.S. manufacturing data were felt across the global financial markets as the safe-haven Japanese yen saw a significant rally. The Australian dollar and sterling, on the other hand, struggled as traders opted for safer investments following a sharp sell-off on Wall Street. The negative sentiment was exacerbated by fears of a
Bank Negara Malaysia (BNM) is anticipated to maintain its key interest rate at 3.00% on Thursday, as indicated by a recent Reuters poll. The central bank is likely to sustain this rate steady until at least 2025 due to robust economic growth and controlled inflation. Despite inflation being at a manageable 2.0%, the Malaysian ringgit
New Zealand house prices are expected to make a significant turnaround in the upcoming year, with a forecasted increase of 6% as a result of interest rate cuts by the Reserve Bank of New Zealand. Despite a recent decline, home prices in New Zealand are closer to their peak in November 2021, standing just 19%
The Ministry of Finance data revealed a 7.4% year-on-year increase in Japanese corporate spending on plant and equipment in the second quarter. This rise in expenditure is a positive sign for the economy and has raised expectations for a domestic-led recovery in economic growth. The data will be used to calculate revised gross domestic product
The energy sector in Brazil is facing challenges due to a drop in reservoir levels at hydroelectric plants. Despite the growth of wind and solar power, more than half of Brazil’s power supply still depends on hydroelectric plants. This has led to the implementation of a pricing system by the local power regulator, Aneel, which
China’s manufacturing sector experienced a decline in August, reaching a six-month low, according to an official factory survey. The official Purchasing Managers’ Index (PMI) dropped to 49.1 in August from 49.4 in July, falling below the 50-mark that separates growth from contraction. This was lower than the median forecast of 49.5 in a Reuters poll.
The recent surge in Wall Street stocks and the Dow reaching an all-time high were largely attributed to fresh U.S. economic data which hinted at a potential interest rate cut by the Federal Reserve in September. The solid increase in consumer spending during July showcased the strength of the economy while moderate price rises indicated
China’s recent announcement of an anti-subsidy investigation into imported dairy products from the European Union has raised tensions between the two economic powerhouses. The probe, which includes various types of cheeses, milks, and creams intended for human consumption, was initiated based on a complaint from the Dairy Association of China and the China Dairy Industry
Recently, the U.S. dollar has been holding near its lowest point in over a year against a basket of currencies, with sterling also trading near multi-year highs. The focus of the market has shifted towards predicting the extent of the upcoming U.S. interest rate cut. Traders are closely watching for any clues that could shed
Recent statements by Federal Reserve officials have suggested that a rate cut in September is highly probable. However, the exact extent of the reduction remains uncertain and will depend on various economic data points, according to Deutsche Bank economists. They anticipate that the size of the rate cut at the upcoming September meeting will be