Recent data from the Labor Department revealed a decline in the number of Americans filing new applications for jobless benefits. This decrease in jobless claims suggests that layoffs are remaining low, which is a positive sign for the labor market. The report also indicated a reduction in unemployment rolls to levels last seen in mid-June.
Economy
The recent sell-off in Wall Street has led to a surge in the safe-haven Japanese yen, while riskier currencies like the Australian dollar and sterling have been struggling. This shift in market sentiment was triggered by soft U.S. manufacturing data, which has raised concerns about a potential hard landing for the world’s largest economy. Traders
Bank Negara Malaysia is anticipated to hold its key interest rate steady, according to a recent poll of economists conducted by Reuters. This decision comes as the country’s economic growth remains robust, with inflation levels being well-controlled. Despite the stability in inflation at 2.0%, the Malaysian ringgit has experienced a significant turnaround, transitioning from one
New Zealand house prices are expected to rise by 6% next year following a recent decline. Despite a significant increase in interest rates, home prices are still close to their peak in November 2021. This indicates that the housing market in New Zealand has been resilient, despite the challenges posed by the COVID-19 pandemic. The
Recent data released by the Ministry of Finance in Japan has revealed that corporate spending on plant and equipment has increased by 7.4% year-on-year in the second quarter. This impressive growth is contributing to expectations of a domestic-led recovery in economic growth for the country. The strong expenditure numbers are anticipated to play a crucial
Despite the growth of wind and solar power in Brazil in recent years, more than half of the country’s power supply still comes from hydroelectric plants. This heavy reliance on hydroelectricity makes Brazil susceptible to fluctuations in reservoir levels, especially during the dry season. Aneel, the local power regulator, implements a pricing system consisting of
China’s manufacturing sector has slowed to a six-month low, according to an official factory survey released in August. The official purchasing managers’ index (PMI) declined to 49.1 in August from 49.4 in July, below expectations. This raises concerns about the overall health of the economy and the need for policymakers to implement new stimulus measures.
Wall Street experienced a surge on Friday, with the Dow reaching a second consecutive all-time closing high. This increase was fueled by positive economic data, leading to expectations of a modest cut in interest rates by the Federal Reserve in September. U.S. consumer spending showed solid growth in July, indicating a strong economy with moderate
China’s recent actions in opening various trade investigations have raised tensions with the European Union. These investigations cover a wide range of industries, from dairy to pork, brandy, and plastic. The move has implications not only for the industries under investigation but also for international trade relations as a whole. The anti-subsidy investigation into imported
The recent focus on the size of the anticipated U.S. interest rate cut next month has left the U.S. dollar trading near its lowest level in over a year against a basket of currencies. This comes as investors closely monitor clues regarding the Federal Reserve’s next move. It is widely expected that there will be
Recent statements from Federal Reserve officials have indicated that a rate cut in September is very likely. Although the exact size of the reduction remains uncertain and dependent on data, Deutsche Bank economists believe that it is almost certain. The decision to cut rates in September will be primarily based on labor market data, according
The Federal Reserve’s holdings of mortgage bonds have been a subject of interest for academics and policymakers alike. In a recent paper presented at a central bank research conference, economists highlighted the central role that these holdings play in shaping the economy’s momentum. This article aims to delve deeper into the impact of the Fed’s