Daily Economic Reports

What happens in China doesn’t just stay in China. Flooding in northeastern China has caused numerous deaths and severe damage to infrastructure, homes, and crops. President Xi Jinping urges action to reduce damage. At least 90 rivers have risen beyond alert threshold, with 24 already flooded. Local governments must prioritize …

After the market closed on Friday, US equities were mixed, with gains coming from the oil and gas, utilities, and telecoms industries while losses came from the technology, basic materials, and consumer goods industries.The NASDAQ Composite index lost 0.20%, the S&P 500 index lost 0.01%, and the Dow Jones Industrial …

UK Retail Sales for July are looked upon as disappointing with a -1.2% MoM drop, surpassing the anticipated -0.5% decline. Strong UK GDP readings and high wages keep BoE rate hike expectations alive, with a 6% peak on the Bank Rate anticipated.Nevertheless, strong readings on UK GDP and steadily high …

The dollar is heading for gains for the fifth week against other major currencies, to record the longest series of gains in 15 months, supported by expectations that US interest rates will remain high for a longer period and by turning to safer assets as a result of concerns about …

Equities are down and bond rates are up as investors remain cautious due to expectations of additional monetary tightening by central banks. The July Fed minutes show a unanimous vote in favour of raising rates, but growing reluctance among board members regarding possible over-tightening.Initial Jobless Claims came in at 239K, …

Morgan Stanley has joined a group of major banks and brokerages in lowering forecasts for China’s economic growth for this year after a series of disappointing data and concerns about the ailing real estate sector there. According to a note issued by the bank on Wednesday, it now expects China’s …

The pound was set to post its biggest one-day gain in nearly two weeks on Wednesday after data showed Britain’s core inflation remained high in July, while the yuan fell to a nine-month low as concerns mounted of a further slowdown in growth. The pound sterling rose in the latest …

UK wages excluding bonuses soared to the highest growth rate since 2001, pushing unemployment to 4.2%. The GBP/USD pair surges following Monday’s session, which portrayed a ‘hammer’ formation, suggesting that further upside is expected. UK jobs data overshadowed positive economic data from the United States, as wages grew above estimates, …

At the time of writing, the price of a barrel of WTI crude oil is $80.292. On the whole, it is down nearly -1.86%. In response to the economy’s sluggish recovery, China’s central bank lowers crucial lending rates, which affects the outlook for global oil consumption. Saudi Arabia and Russia’s …

Because of the US dollar’s strength and surging US Treasury bond yields, the price of gold has continued to perform worse. Because of higher rental prices, inflation increased steadily at a rate of 0.2% in July. In September, the Fed is anticipated to leave interest rates steady. The precious metal …