Economic Report

The financial markets witnessed many developments during the trading week ending on Friday, July 5, 2024, in terms of major currencies, American and international stocks, commodities, and other most prominent traded assets, and in this weekly report we attempt to monitor the most important developments.Markets were mixed this week, with …

Wall Street is buzzing about the Sahm Rule after the latest US Bureau of Labour Statistics data release showed an unexpected rise in the unemployment rate. While the headline number of 206,000 new jobs created in June exceeded the 190,000 expectations, economists are concerned about several underlying factors.What is the …

Bitcoin’s price plummeted to a two-month low on Thursday, breaching a crucial support level as traders remained cautious due to concerns over potential selling pressure, particularly from the defunct crypto exchange Mt Gox. Despite the weakening dollar, which usually supports Bitcoin, the world’s largest cryptocurrency saw a significant 3.2% drop …

The minutes of the Fed’s June meeting were made public, and they contained a plethora of signals that the markets interpreted differently with regard to the factors influencing the federal rate’s future trajectory. “Most monetary policymakers in the meeting of the Central Bank’s Board of Governors on June 11 and …

Powell Cites “Actual Advancement” While Central Bankers Evaluate War Against Inflation. Christine Lagarde, the head of the European Central Bank, and Jerome H. Powell, the chair of the Federal Reserve, both sounded upbeat about recent inflation figures but emphasized the need for greater confidence before cutting interest rates. Over the …

The far-right in France is on the rise, according to the results of Sunday’s early elections. Marine Le Pen, the National Rally Party’s initial opponent of French President Emmanuel Macron in the previous presidential election, is leading this movement. Without a doubt, the success of this political movement would give …

Tesla stocks have been on the comeback trail recently, and that continued on the first trading day of July. Shares of the leading electric vehicle maker were higher by 5.5% on Monday morning. The stock is now up by about 18% over the past month.Today’s leap comes just one day …

In this report, we take a look back at the latest five trading days with a focus on the market news, economic data and headlines that had the most impact on key financial assets; including oil and gold prices as well as the key correlated assets. It is an opportunity …

Key Points: Stronger Rebound: Britain’s GDP grew by 0.7% in Q1 2024, exceeding initial estimates, signaling a faster recovery from the previous recession.Weak Long-Term Growth: Despite the rebound, GDP is only marginally higher than a year earlier, highlighting persistent challenges to sustained economic growth.Election Impact: The weak economic outlook is …

Market expectations are pointing toward a fresh decline in both headline and core Personal Consumption Expenditures (PCE) figures for the United States, set for release on Friday. Current projections suggest a possible drop in the headline PCE index to 2.6% for May, down from the previous month’s reading of 2.7%. …