The Institute for Supply Management (ISM) is scheduled to release its October Services Purchasing Managers' Index (PMI) on Wednesday. The report, a trusted measure of business performance and widely considered a leading indicator of economic activity, is expected to reflect moderate expansion in the services sector. Due to delays and cancellations of key macroeconomic data releases due to the ongoing US government shutdown, the ISM Services PMI report could significantly impact the US Dollar (USD) valuation in the near term. What to expect from the ISM Services PMI report? Markets expect...
Chinese officials are considering a potential sale of TikTok's U.S. operations to Elon Musk, if the social media giant is unable to duck a controversial ban being proposed by U.S. authorities, Bloomberg reported on Monday. The report said that while Chinese officials preferred that TikTok remained under parent ByteDance Ltd, they were already discussing potential contingencies, including the sale to Musk. ByteDance contested the ban in the U.S. Supreme Court. But recent discussions showed that U.S. judges were also likely to uphold any potential ban on the short video...
China's 10-year government bond yield rose to around 1.65%, as the People's Bank of China (PBOC) announced plans to sell 60 billion yuan worth of six-month bills in Hong Kong on January 15. This move was the largest sale since 2018, aimed to absorb liquidity from the market and reduce speculative bets against the yuan. This tightening of liquidity is expected to push up short-term interest rates, adding upward pressure on bond yields. The PBOC's actions reflect its continued efforts to stabilize the currency and manage volatility in the market. Last week, the PBOC unexpectedly paused bond...
The unemployment rate in the United States went down to 4.1% in December of 2024 from 4.2% in the previous month, below market expectations of 4.2%. The number of unemployed individuals decreased by 235,000 to 6.886 million, while employment levels increased by 478,000 to 161.661 million. Meanwhile, the labor force participation rate was unchanged at 62.5%, and the employment-population ratio went up to 60% from 59.8%. Source: Trading Economics
According to the U.S. Bureau of Labor Statistics on Friday (10/1), U.S. nonfarm payrolls rose to 256K in December. This figure is up from the estimate of 164K. (yds) Source: Newsmaker
The People's Bank of China (PBoC) announced on Friday that it would suspend treasury bond purchases in the open market due to a supply shortage, effective immediately. The central bank stated it would resume purchases at an appropriate time based on market conditions. This decision comes amid repeated warnings from the PBoC about bubble risks in China's overheated bond market, where long-term yields have plummeted to record lows. Over the past year, yields on key bonds, including the benchmark 10-year government bond, have reached unprecedented lows as investors flock to safe-haven assets....
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 announced tariff cuts on fentanyl-related products from China, reducing them from 20% to 10%. This decision is part of an agreement reached at a summit in South Korea last...