The economic activity in the United States' (US) manufacturing sector continued to contract in October, with the Institute for Supply Management's (ISM) Manufacturing Purchasing Managers' Index (PMI) dropping to 48.7 from 49.1 in September. This reading came in weaker than the market expectation of 49.5. Other details of the PMI report showed that the Employment Index edged higher to 46 from 45.3 in this period, while the New Orders Index improved to 49.4 from 48.9. Finally, the Prices Pair Index, the input inflation component of the survey, declined to 58 from 61.9. Source: FXstreet
President Donald Trump has asked the U.S. Supreme Court to allow him to fire Federal Reserve Governor Lisa Cook while he fights Trump's attempt to oust her. This has drawn the justices into a high-profile legal battle that has major implications for the independence of the U.S. central bank. The Justice Department asked the court on Thursday to at least temporarily delay a Washington federal judge's ruling allowing Cook to remain in office for the time being. The emergency request comes after the Fed held its final meeting earlier this week, which Cook attended. Last month, Trump said he...
According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance went down to 231K for the week ending September 13. The latest print came in short of initial estimates (240K) and was lower than the previous week's 264K (revised from 263K). Additionally, the 4-week moving average decreased by 750, bringing it to 240K from the revised average of the previous week. The report indicated a seasonally adjusted insured unemployment rate of 1.3%, with Continuing Jobless Claims shrinking by 7K to...
Australia's seasonally adjusted unemployment rate stood at 4.2% in August 2025, unchanged from the previous month and in line with market expectations. The number of unemployed people fell by 900, bringing the total to 647,400. Among them, those seeking part-time jobs declined by 3,600 to 204,400, while those looking for full-time jobs increased by 3,000 to 443,000. Meanwhile, employment unexpectedly declined by 5,400 to 14.63 million, missing forecasts of a 22,000 increase, following an upwardly revised gain of 26,500 in July. Full-time employment decreased by 40,900 to 10.08 million,...
The United States Federal Reserve (Fed) will announce its monetary policy decision and publish its revised Summary of Economic Projections (SEP), known as the dot plot, after its September policy meeting on Wednesday. Market participants widely anticipate the US central bank will cut its benchmark interest rate for the first time since last December, lowering it to a range of 4%-4.25%. The CME FedWatch Tool shows that investors see only about a 6% chance of a larger rate cut, while pricing in about an 80% chance of a 75 basis point (bps) cut for the remainder of the year. This means the...
The United States has rejected India's request for consultations at the World Trade Organization (WTO) regarding Washington's 50% tariffs on copper and copper derivative products, arguing that the tariffs are not safeguard measures, as claimed by New Delhi. According to The Economic Times, the US told the WTO that there is "no basis" for India to seek consultations. Earlier this month, India had initiated the request under the WTO Agreement on Safeguards. This marks the third instance of India seeking WTO consultations with the US and Washington refusing, following previous disputes over...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
As the U.S. government shutdown disrupts federal employee paychecks across the country, it also exacerbates the financial hardship of attorneys who represent the poorest members of society when they...