Initial jobless claims in the US surged by 27,000 from the previous week to 263,000 in the first week of September, the highest single-week figure since October 2021, and well above market consensus of 235,000 initial claims. This finding aligns with a series of downbeat labor market surveys released since the beginning of the month, adding to evidence of worsening employment conditions in the US. (alg) Source: Trading Economics
The ISM Manufacturing PMI fell to 48 in July 2025 from 49 in June, missing expectations of a rise to 49.5. This figure marked the fifth consecutive month of contraction in the manufacturing sector and was the weakest since October of last year. The largest negative contributions came from declines in supplier deliveries (45.7 vs. 46.7) and employment (43.4 vs. 45.0). On the positive side, production increased (51.4 vs. 50.3), while declines in new orders (47.1 vs. 46.4) and backlogs (46.8 vs. 44.3) eased. Price pressures also eased, with the price index falling to 64.8 from 69.7. Source:...
US non-farm payrolls rose by 73,000 in July 2025, after being revised down by 14,000 in June and well below the 110,000 estimate. The upward trend in employment in the healthcare and social assistance sectors continued. The federal government continued to lose jobs. The June figure was also revised down sharply from 147,000 to 14,000, and the May figure was also revised down by 125,000. With these revisions, total employment in May and June was 258,000 lower than previously reported. (alg) Source: trading economics
President Donald Trump urged the Federal Reserve Board to "take control" if Chairman Jerome Powell doesn't cut interest rates, escalating his feud with the central bank's leadership. "Jerome Powell 'Late,' a stubborn, STUPID man, must lower interest rates substantially, now. if he continues to refuse, the board must take control, and do what everyone knows should do!" the president wrote on social media on Friday. The White House did not immediately respond to a request for comment on the president's remarks. Trump's post came after Fed officials left interest rates unchanged on...
The Fed may or may not actually cut interest rates in September. The deciding factor will be how robust macroeconomic data (namely, inflation and the labor market) looks at that time. That's why all eyes will likely be on today's US labor market report for July. Certainly, there are signs of weakness in some areas of the US labor market, particularly in cyclical sectors like manufacturing and business services. While the June report shows a fairly good figure (+147,000), a closer look reveals mixed results. However, there are no signs of a slowdown, notes Commerzbank FX analyst Antje...
The U.S. will levy a 30% tariff on South African exports next week, after Pretoria failed to reach a trade deal before President Donald Trump's deadline. The new rate is part of a broader executive order signed Thursday, imposing tariffs ranging from 10% to 41% on dozens of countries to reshape global trade in favor of the U.S. Despite months of negotiations and an offer to buy U.S. LNG and invest $3.3 billion in American industries, South Africa's efforts fell short. Trade Minister Parks Tau warned the tariff threatens key export sectors like automotive, agro-processing, steel, and...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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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...
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts...