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
Germany's flash composite PMI rose to 50.9 in August from 50.6, the highest since March and above market expectations of 50.2. Still, it was below the long-run 52.6 average, signaling modest growth. Manufacturing led with output at 52.6 on stronger new orders, while services stagnated at 50.1. Employment dipped, and cost pressures picked up, though overall growth remained limited. Source: Trading Economics
The S&P Global Flash Australia Services PMI Business Activity Index rose to 55.1 in August from 54.1 in July, marking the fastest growth in 40 months. The expansion was driven by stronger demand and renewed increases in new export business, particularly from the US, Europe, and Asia-Pacific markets. To manage higher workloads, service providers added staff at the quickest pace since April 2023. Input costs remained elevated due to higher wages, materials, and shipping, but the rate of inflation eased, allowing firms to raise selling prices more moderately. As a result, output price...
China is considering permitting yuan-backed stablecoins for the first time as part of efforts to increase global adoption of its currency, according to a report from Reuters, citing sources familiar with the matter. This potential policy shift represents a significant reversal of China's previous stance toward digital assets. The State Council, China's cabinet, is expected to review and possibly approve a roadmap later in August that would promote wider international usage of the yuan, including initiatives to compete with U.S. developments in stablecoins. Sources indicate the plan will...
Bank Indonesia unexpectedly cut its benchmark interest rate by 25 bps to 5.0% at its August 2025 policy meeting, following a 25 bps cut the previous month and defying market expectations to hold rates steady. This marked the fifth rate cut since last September, bringing the benchmark to its lowest level since October 2022. The decision reflects projections that inflation for 2025–2026 will remain within the central bank's target range of 2.5% ± 1%, a stable Rupiah exchange rate, and ongoing efforts to support economic growth. Recent data showed GDP grew by 5.12% yoy in Q2—its highest pace...
The U.K.'s annual inflation rate hit a hotter-than-expected 3.8%in July, according to data released by the Office for National Statistics (ONS) on Wednesday. Economists polled by Reuters had anticipated inflation would reach 3.7% in the twelve months to July, after it picked up to 3.6% in June, exceeding forecasts. July core inflation, which excludes more volatile energy, food, alcohol and tobacco prices, rose by an annual 3.8%, up from 3.7% in the twelve months to June. The latest data comes after the Bank of England earlier this month voted by a fine margin to cut...
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...