The recent decline in US jobless claims, falling to an 11-month low, offers a seemingly positive snapshot of the labour market. However, this picture is far from complete. While layoffs remain relatively low, a closer examination reveals a more nuanced reality – one of slowing hiring, prolonged unemployment for some, …
Read More »China Anticipates Record Travel During Lunar New Year Amid Economic Struggles
China is bracing for an unprecedented travel surge during the upcoming Lunar New Year, with authorities predicting a staggering 9 billion domestic trips during the 40-day Spring Festival period starting January 14. This forecast, despite the country’s sluggish economic recovery, reflects a deep cultural tradition of family reunions during the …
Read More »Dollar Strengthens Amid Robust U.S. Data, Weighing on Global Currencies
The U.S. dollar advanced for the second consecutive day on Wednesday, buoyed by strong economic data that pushed bond yields higher and diminished expectations for Federal Reserve rate cuts in 2025. U.S. job openings rose unexpectedly in November, while December’s services sector activity showed notable acceleration. Additionally, a surge in …
Read More »Japan’s Consumer Sentiment Weakens, Casting Doubt on Central Bank’s Policy Outlook
Consumer sentiment in Japan took a hit in December, as per a government survey released on Wednesday. The decline raises questions about the Bank of Japan’s (BOJ) optimism that robust household spending will drive the economy and support future interest rate hikes. The sentiment index fell to 36.2 in December, …
Read More »European Shares Edge Higher Amid Strength in Healthcare and Financial Stocks
European stocks saw modest gains on Wednesday, driven by advances in heavyweight healthcare and financial sectors, while investors remained attuned to global monetary policy signals in the New Year. The pan-European STOXX 600 rose by 0.2% as of 08:21 GMT, maintaining its position near a three-week high. Financial services led …
Read More »Oil Prices Edge Higher Amid Tightening Supplies and Strong U.S. Economic Data
Oil prices gained on Wednesday, supported by tightening supplies from Russia and OPEC members, along with robust U.S. economic data suggesting potential growth in oil demand. Brent crude rose 0.5% to $77.42 per barrel by 07:30 GMT, while U.S. West Texas Intermediate (WTI) crude climbed 0.6% to $74.69. A Reuters …
Read More »Bitcoin Extends Losses Amid Rate Concerns, Wiping Out Recent Gains
Bitcoin continued its downward trajectory on Wednesday, erasing the entirety of its recent rebound as concerns over slower-than-expected interest rate cuts in 2025 rattled risk-driven assets. After briefly surpassing the $100,000 mark during a recovery from a late-December slump, the world’s largest cryptocurrency saw sharp losses on Tuesday and Wednesday. …
Read More »ISM Data Fueling Interest Rate-linked Fears Accounts For Stock Market Downturn
US stocks experienced slid on Tuesday, with the S&P 500 and Nasdaq Composite falling significantly. This downturn follows a period of sustained market strength and was primarily driven by stronger-than-expected economic data that dampened expectations of imminent Federal Reserve interest rate cuts.The S&P 500 declined 1.2%, while the Dow Jones …
Read More »Canadian Dollar Faces Headwinds Amid Political Turmoil
The Canadian Dollar (CAD) has halted its recent bullish recovery, halting on the charts and cycling familiar levels against the Greenback. The Loonie has recovered some ground after tumbling to multi-year highs at the tail-end of 2024, but bullish momentum remains elusive. Canada’s Ivey Purchasing Managers Index (PMI) figures disappointed …
Read More »Strong Jobs and Services Data Lift US Dollar to Fresh Heights
The US Dollar Index (DXY) staged a comeback on Tuesday, erasing earlier losses and trading higher. This resurgence was primarily fueled by a confluence of factors, with the Federal Reserve’s hawkish stance playing a pivotal role. The Fed’s recent shift towards a more restrictive monetary policy has propelled US Treasury …
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