The business activity in the US service sector stagnated in September, with the Institute for Supply Management's (ISM) Services Purchasing Managers Index (PMI) declining to 50 from 52 in August. This reading came in below the market expectation of 51.7. The Employment Index of the PMI survey edged higher to 47.2 from 46.5 in August, while the Prices Paid Index, the inflation component, rose to 69.4 from 69.2. Assessing the survey's findings, "September's Services PMI level returned to numbers very similar to May and July, with weakness in business activity and continued weakness in...
German producer prices rose by 0.7% year-on-year in February 2025, up from 0.5% in January but still below market consensus of 1%. However, this was the fourth consecutive month of producer inflation, mainly driven by higher prices of non-durable consumer goods (3.0%) and durable consumer goods (1.2%).In particular, capital goods costs also rose (2.0%), especially machinery (1.9%) and motor vehicles, trailers, and semi-trailers (1.4%). In addition, intermediate goods prices rose by 0.3%. Excluding energy, producer prices rose by 1.4%. Meanwhile, energy prices shrank by 0.8%, mainly due to...
Australian employment posted a surprise fall in February although the jobless rate stayed unchanged, a soft result that sent the local dollar lower. Figures from the Australian Bureau of Statistics on Thursday showed net employment fell 52,800 in February from January. That was well under market forecasts for a 30,000 rise. The jobless rate stayed at 4.1%, matching market expectations. The Australian dollar slipped 0.3% to $0.6341 after the data. Source: Reuters
President Donald Trump's plan to revive U.S. shipbuilding using massive fees on China-linked ship visits to American ports is causing U.S. coal inventories to swell and stoking uncertainty in the embattled agriculture market, as exporters struggle to find ships to send goods abroad. Trump is drafting an executive order that would rely on funding from a U.S. Trade Representative proposal to levy fines of up to $1.5 million on China-made ships or vessels from fleets that include ships made in China. Those potential port fees have limited the availability of ships needed to move agriculture,...
The White House said Tuesday that US President Donald Trump and Russian President Vladimir Putin agreed to seek a limited ceasesire on energy and infrastructure targets for 30 days. "The leaders agreed that the movement to peace will begin with an energy and infrastructure ceasefire, as well as technical negotiations on implementation of a maritime ceasefire in the Black Sea, full ceasefire and permanent peace," according to a readout of President Donald J. Trump's call with President Vladimir Putin on Tuesday. "These negotiations will begin immediately in the Middle East," the White House...
Canada's Prime Minister Mark Carney said it was important to strengthen ties with "reliable allies" in Europe, as he met British and French leaders on his first overseas visit amid tensions with the United States. Carney's decision to visit Paris and London instead of Washington, as is usual for Canadian leaders, comes after U.S. President Donald Trump escalated trade tensions with both Canada and Europe, and floated threats of annexing Canada. "(It) is more important than ever for Canada to strengthen its ties with reliable allies like France," Carney said, ahead of a working lunch with...
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...
The U.S. government shut down much of its operations on Wednesday as deep partisan divisions prevented Congress and the White House from reaching a funding deal, setting off what could be a long,...