Daily Economic Reports

As Moscow raised military spending and Western sanctions put pressure on its energy exports, the value of the Russian currency dropped to its lowest level since the early days of the Ukraine conflict. As a result, the Russian central bank announced that it will hold an emergency meeting to review …

The Federal Open Market Committee (FOMC), according to Goldman Sachs, may begin reducing the funds rate in the second quarter of 2024. This estimate assumes that core Personal Consumption Expenditures (PCE) inflation will have fallen below 3% on a yearly basis and under 2.5% on a monthly basis. Even if …

Gold price registered losses for the third straight week, with concerns over China’s economic stability continuing to weigh on the precious metal’s price. Gold failed to build on last Friday’s gains and started the week on a bearish note. Gold is trading at $1912.90 per ounce at the time of …

The EUR/USD pair encountered pressures and experienced losses during the US trading session, reaching 1.0975 from a daily high of 1.1000. US Department of Labour report indicated Producer Price Index (PPI) growth of 0.3% MoM, exceeding expectations, with annual PPI at 0.8%. Core PPI rose by 0.3% MoM.The University of …

The dollar was heading for a fourth week of gains on Friday after data showed that inflation did not rise as strongly in the United States as expected in July, which helped boost investor expectations that the Federal Reserve will likely end the current interest rate hike cycle. The rise …

GBP/USD reached a weekly high of 1.2818, but dropped below 1.2700. US CPI remains above 3%, Core CPI remains 4%. UK GDP figures for Q2 release, US inflation data, reacted upwards.US Treasury bond yields soared, leading to a comeback in the US Dollar (USD) at 1.2687. The GBP/USD pair reached …

The decline in US bank stocks this week astonished options traders and drove them to wonder whether bank investors have grown too accustomed to the crisis-hit industry. Several US regional lenders had their credit ratings reduced by Moody’s, and some of the world’s largest banks were under scrutiny for a …

With important UK GDP statistics due on Friday, the Pound Sterling experiences little trading and continues to move below the 50-day EMA around 1.2724. The Bank of England’s attitude, meantime, is under pressure as market chances point to a rate hike in September at 85%, with the Bank Rate possibly …

China’s consumer sector entered a period of deflation and producer prices continued to decline in July as the world’s second-largest economy struggled to revive demand and pressure mounted on Beijing to take more direct stimulus measures. Concern is mounting that China is about to enter a period of sharp slowdown …

US stocks retreated Tuesday as an August sell-off was reignited by a downgrade of the banking sector by credit rating agency Moody’s. The Dow Jones Industrial Average was down 359 points, or 1%, led by a decline in Goldman Sachs. The S&P 500 dipped 1.1%, bringing its pullback from its …