Economic Report

Amidst growing geopolitical tensions in the Middle East, risk aversion remains the driving force behind the financial markets. The GBP/USD pair hit a three-day low of 1.2113, with sellers aiming for the next support level at 1.2100. The US economy is doing well, according to economic data; in September, new …

Bill Ackman has just been crowned as the new king of the bond market as the US national debt and deficit reach historic highs. Ed Yardeni, an economist who spent decades on Wall Street at firms like Deutsche Bank, believes that bond guards are once again out in force, with …

The European Central Bank (ECB) is scheduled to announce its monetary policy decision on Thursday, October 26, at 12:15 GMT. As the release time approaches, economists and researchers from major banks have shared their expectations. The ECB is widely anticipated to maintain its current interest rates unchanged. This expectation comes …

Financial markets and economists anticipate that the central bank will maintain the Official Overnight Rate (OOR) at 5.0% for the second consecutive meeting. This expectation is strongly reflected in market pricing, with an 85% probability favoring another pause. Remarkably, market projections extend until late 2024, indicating a prevailing belief in …

Microsoft beat analysts’ predictions for revenue and earnings per share when it released its quarterly earnings after the bell on Tuesday. The tech giant beat consensus estimates by reporting revenue of $56.5 billion for the quarter.Adjusted earnings per share (EPS) peaked at $2.99 as opposed to the expected $2.66. During …

The dollar fell to its lowest level in a month on Tuesday, October 24, against a basket of other major currencies after US Treasury bond yields declined, but it regained some of its gains as the euro declined against the backdrop of weak economic data. The dollar index, which measures …

The 10-year Treasury yield has reached 5% for the first time since 2007, marking a significant shift in the global financial system. The increase in yields means that the US government must pay more to borrow money from investors to cover its spending, impacting people worldwide. The 10-year Treasury yield …

The Japanese Yen continues to struggle against the USD, with the pair coiling below the key level of 150 and threatening a breakout higher. Dovish remarks from BoJ Governor Ueda have pushed the pair higher, and intervention from Japanese authorities is likely as key price/yield levels are now close to …

Oil prices fell by over a dollar on Monday as supply concerns eased amid diplomatic efforts to contain the conflict between Israel and the Palestinian Islamic Resistance Movement (Hamas). By 0628 GMT, Brent crude futures fell 67 cents to $91.49 per barrel, after losing $1.08 earlier in the session, recording …

The US government posted a $170 billion budget deficit, according to the Treasury Department, which reported $467 billion in total receipts and $638 billion in total outlays.The fiscal deficit for the fiscal year 2023 was $1.696 trillion, a 23% increase from the previous year and the largest since the start …