As the summer season progresses, retailers in the United States are experiencing a surge in imports, fueled by the need to prepare for potential strikes by port workers and shipping disruptions. Container imports and freight rates have seen a significant increase in July, pointing towards an earlier peak season for the ocean shipping industry, which
Republican presidential candidate Donald Trump has made it clear that he is interested in infringing on the Federal Reserve’s independence if he is elected president once again. The former president believes that the president should have a say in Fed decisions, going against the idea of an independent Federal Reserve. This contradicts Vice President Kamala
Recent concerns about a potential U.S. recession have once again highlighted the issue of unemployment in the country. Experts are warning that the system in place to support workers during periods of unemployment is at risk of collapsing, as it did during the Covid-19 pandemic. Michele Evermore, a senior fellow at The Century Foundation, expressed
The dollar has experienced fluctuations this week against other major currencies, easing off a one-week high in response to recent economic data. The U.S. currency faced downward pressure against the Japanese yen following a rebound, as traders reacted to firmer-than-expected employment figures and the possibility of a looming economic downturn. The yen and the Swiss
In a recent incident at China’s Ningbo port, a hazardous goods container exploded on the YM Mobility ship, owned by Taiwanese vessel owner Yang Ming Marine Transport Corp. Fortunately, there were no casualties or injuries reported. The explosion resulted in a fire that has since been brought under control, with all individuals on board safely
The most recent Consumer Price Index (CPI) report from China for the month of July revealed some interesting data. According to MUFG FX analyst Lee Hardman, the headline inflation increased slightly by 0.3 points to 0.5% in July. However, the core measure of inflation saw a decline to 0.4% from 0.6% in the previous months.
Gold prices have been on a rollercoaster ride over the past week, with significant fluctuations in a short period of time. This extreme volatility can be attributed to various factors influencing the market sentiment towards the precious metal. From a technical perspective, gold managed to bounce back after touching its 50-day moving average, indicating some
The GBP/USD pair has seen an uptrend in recent days, with the US Federal Reserve expected to implement a rate cut in September. The CME FedWatch tool indicates that markets are fully pricing in a quarter-basis point interest rate cut by the Fed next month. This anticipation of a rate cut is putting pressure on
The Founder, CEO, and CIO of ARK Invest, Cathie Wood, recently raised concerns about the discrepancies between the current 10-year Treasury bond yield and the Fed Funds Rate. Wood suggested that the metal-to-gold ratio indicates that the Treasury bond yield should be at around 2% today, rather than the 3.8% or 5% levels seen in
Jeffrey Schmid of the Federal Reserve Bank of Kansas City recently expressed his opinion on the current state of inflation and monetary policy. He stated that if inflation continues to come in low, it would be appropriate to adjust policy accordingly. Schmid mentioned that the Fed’s current stance on policy is not overly restrictive and
The Australian Dollar (AUD) rose near 0.6580 during recent trading sessions, marking a significant increase of 0.80%. This surge can be attributed to the Reserve Bank of Australia’s (RBA) reaffirmation of their hawkish tone and a boost in commodity prices which has made the AUD a strong performer in the market. The RBA has maintained
The recent release of the Bank of Japan’s summary of opinions has sparked discussions among market participants. The bearish comments from BoJ policymakers have raised concerns about the future trajectory of the Yen. However, Deputy Governor Shinichi Uchida’s efforts to soften Governor Ueda’s aggressive remarks have helped stabilize the markets. The BoJ’s projection of reaching