Daily Economic Reports

Data released by S&P Global on Thursday revealed that the Caixin Purchasing Managers’ Index (PMI) for China’s manufacturing sector aligned with market expectations, standing at approximately 50.8 points in January. This reading, consistent with forecasts, indicated sustained growth, maintaining a trend outside the contraction zone for three consecutive months – …

Ahead of the Fed meeting, the US dollar experienced a fall following a false positive surge higher. Traders were taken aback by the negative ADP figure. The US Dollar Index is still trapped in its trend, circling the 200-day SMA. At 103.102, the DXY chart shows a loss of -0.031%.The …

Gold is trading at $2052.99 per ounce at the time of writing. The price of the precious metal surges by 0.77% ahead of the Federal Reserve’s monetary policy announcement, with the focus mainly on the bank’s future interest rate guidance. Expectations for early rate cuts by the Fed increased as …

The Bank of England (BoE) is expected to acknowledge rapid progress in reducing inflation during its first meeting of 2024. Despite analysts anticipating a hold on interest rates at 5.25%, the central bank’s policy announcement on Thursday will be accompanied by new forecasts, reflecting the projected decline in UK inflation …

In early European trading on Wednesday, the US dollar maintained its strength, poised for the most significant monthly gain since September. Meanwhile, the euro faced headwinds following weak inflation data, contributing to the dollar’s appeal. Geopolitical tensions in the Middle East and economic data played crucial roles in shaping currency …

China’s manufacturing sector has experienced its fourth consecutive month of contraction in January, according to an official survey released on Wednesday. The data suggests ongoing challenges for the large sector and the broader economy in regaining momentum at the outset of 2024. The official purchasing managers’ index (PMI) for the …

Alphabet Inc, the parent company of Google, found itself on the wrong side of investor expectations as holiday ad sales fell short, leading to a six percent drop in its shares during after-hours trading. The company also disclosed plans for increased spending on components like servers running artificial intelligence (AI), …

In the dynamic landscape of global oil markets, recent developments have sent ripples through the industry, influencing price movements and creating an environment of uncertainty. This article delves into the various factors impacting oil prices, ranging from geopolitical tensions in the Middle East to economic indicators that shape the market …

Since the Fed is projected to maintain interest rates in the range of 5.25%–5.50% for the fourth consecutive meeting, no policy changes are anticipated. The news conference by Chair Jerome Powell will be crucial. Investor attention will be focused on any possible rebuttal to market conjecture about rate reductions. Financial …

US stocks showed mixed performance on Tuesday, with the Dow Jones Industrial Average reversing higher in midday trades as investors awaited a slew of Big Tech earnings and a Fed rate decision. Financial stocks, including JPMorgan Chase, Visa, American Express, and Goldman Sachs, lifted the index. The S&P 500 also …