World markets kicked off November in an upbeat mood, riffing off buoyant company earnings and calmer trade relations while batting away OPEC's planned end to output hikes and this week's Supreme Court hearing on President Donald Trump's tariffs. Following last week's meeting between Trump and China's President Xi Jinping in South Korea, the White House announced Saturday that China would lift export controls on rare earths and end probes into U.S. chip firms. But Trump said AI giant Nvidia's most advanced chips would be reserved for U.S. companies and kept out of China and other...
US citizens filing new applications for unemployment insurance rose to 213K for the week ending February 8, as reported by the US Department of Labor (DoL) on Thursday. This print missed initial estimates and was lower than the previous week's revised tally of 220K (from 219K). The report also highlighted a seasonally adjusted insured unemployment rate of 1.2%, while the four-week moving average dropped to 216.00K, marking a decrease of 1K from the prior week's revised average.Source: FXStreet
The UK economy expanded 0.1% QoQ in the three months to December 2024 after showing no growth in the third quarter. The data beat the expected 0.1% decline in the reported period.The UK GDP increased 1.4% year-on-year (YoY) in Q4 vs. 1.1% expected and 0.9% recorded in Q3.The monthly UK GDP arrived at 0.4% in December, compared to a 0.1% increase in November, bettering the expectations of 0.1%.Meanwhile, the Index of services (December) came in at 0.2% 3M/3M vs. 0% prior.Other data from the UK showed that Industrial Production and Manufacturing Production grew 0.5% and 0.7%, respectively,...
Underlying US inflation last month rose by more than forecast, supporting the Federal Reserve's cautious approach to lowering interest rates. The so-called core consumer price index — which excludes food and energy costs — increased 0.4% in January after a 0.2% advance in December, Bureau of Labor Statistics figures showed Wednesday. From a year ago, it rose 3.3%. Economists see the core gauge as a better indicator of the underlying inflation trend than the overall CPI that includes often-volatile food and energy costs. The headline measure rose 0.5% from December...
The United States (US) Bureau of Labor Statistics will release January's Consumer Price Index (CPI) report on Wednesday at 13:30 GMT. As a key indicator of inflation, this report might influence the US Dollar's (USD) price action in the short-term horizon, although it's not expected to lead to any immediate changes in the Federal Reserve's (Fed) monetary policy stance.That said, the Consumer Price Index (CPI) is expected to show an annual increase of 2.9% in January—matching the previous month's reading. When you strip out the volatile food and energy prices to get a clearer picture, the...
Britain is set for solid growth and falling inflation this year but the Bank of England has little scope to cut interest rates further, the NIESR think tank predicted on Wednesday in a relatively upbeat set of forecasts. The National Institute of Economic and Social Research also said finance minister Rachel Reeves remained just on track to stay within her fiscal rules when the Office for Budget Responsibility updates its forecasts next month - though it said there should be a greater focus on long-term debt challenges. NIESR forecast the British economy would grow by 1.5% this year -...
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...