The European Central Bank (ECB) announced on Thursday (October 30th) that it kept its key interest rates unchanged after its October policy meeting, as expected. This decision leaves the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate at 2.15%, 2.4%, and 2%, respectively. The European Central Bank (ECB) is expected to maintain the main refinancing operations rate, the marginal lending facility rate, and the deposit facility rate at 2.15%, 2.4%, and 2%, respectively. The decision will be announced on Thursday at 13:15 GMT. The rate...
China's latest inflation figures are out on Thursday, and they could not be coming at a more fascinating - some might say alarming - time for global bond markets. Long-term yields around the world are shooting higher as investors bet that sticky inflation will force the U.S. Federal Reserve and other central banks to dial down or even halt their rate-cutting cycles. The 30-year UK gilt yield is the highest since 1998, the 30-year U.S. Treasury yield is a whisker from 5%, and the U.S. 'term premium' - the risk premium investors demand for lending long to Uncle Sam rather than rolling over...
Private businesses in the US added 122K workers to their payrolls in December 2024, the least in four months, compared to 146K in November and below forecasts of 140K. "The labor market downshifted to a more modest pace of growth in the final month of 2024, with a slowdown in both hiring and pay gains. Health care stood out in the second half of the year, creating more jobs than any other sector", said Nela Richardson, chief economist, ADP. The service-producing sector added 112K jobs, led by education/health services (57K); leisure/hospitality (22K); financial activities (12K);...
The number of Americans filing for unemployment benefits fell to 201K in the week ending Jan. 5, 2025 That was down from the estimate of 214K and the previous weekly reading of 211K, the Labor Department said Wednesday. Source: Newsmaker23
Job openings rose by 259,000 to 8.098 million in November 2024, from an upwardly revised 7.839 million in October and above market expectations of 7.70 million. Job openings rose in professional and business services (+273,000), finance and insurance (+105,000), and private educational services (+38,000) but declined in information (-89,000). Meanwhile, total hires and total layoffs were flat at 5.3 million and 5.1 million, respectively. In layoffs, resignations fell by 218,000 to 3.1 million and layoffs and terminations were flat at 1.8 million. Source: Trading Economics
Economic activity in the US services sector accelerated in December, with the ISM Services PMI rising to 54.1 from 52.1 in November. This reading was higher than the market expectation of 53.3. Other details from the report showed that the Prices Paid Index, a component of inflation, rose to 64.4 from 58.2, while the Employment Index fell to 51.4 from 51.5. Market reaction The US dollar strengthened against other major currencies in an immediate reaction. At the time of writing, the USD Index was up 0.2% on the day at 108.52. Source: FXStreet
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...
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down on illegal fentanyl trade, resuming purchases of...