President Donald Trump announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed his administration had "succeeded where many others have failed," calling this the eighth war he has ended in less than a year. However, the reality on the ground is far more complicated, as fighting in eastern Congo continues despite the signing of the previous peace agreement. The agreement is not just about a ceasefire; it also concerns the mineral trade. The agreement grants US companies access...
The United States Gross Domestic Product grew at a 3% Annual Rate in the second quarter, according to the preliminary estimate from the US Bureau of Economic Analysis (BEA) on Wednesday. This figure follows a 0.5% contraction in the first quarter and is better than market expectations for a 2.4% expansion. Other details from the report show that the Core Personal Consumption Expenditures (PCE) Price Index rose 2.5% quarter-on-quarter in the second quarter, compared to market expectations of 2.4%. Furthermore, the Gross Domestic Product Price Index rose 2% in Q2, down from the 3.8% increase...
US companies increased hiring in July after a sharp decline the previous month, although the pace remained consistent with weakening labor demand. Private-sector jobs increased by 104,000, according to ADP Research data released Wednesday. The median estimate in a Bloomberg survey of economists was for a gain of 76,000. (alg) Source: Bloomberg
The Federal Reserve is expected to hold interest rates on hold on Wednesday (July 30), six days after President Donald Trump renewed his demand that the US central bank cut borrowing costs during a rare presidential visit to its Washington headquarters. The sharp rate cut Trump is seeking he has suggested cutting it from the current 4.25%-4.50% range to as low as 1% is highly inconsistent with economic conditions that have largely stabilized in the six weeks since the Fed's last meeting. Such a dramatic rate cut would likely increase inflation, according to many economists, and is more in...
The Australian monthly Consumer Price Index is foreseen stable at 2.1%. Quarterly CPI inflation is expected to have modestly decreased in Q2. The Reserve Bank of Australia kept the OCR at 3.85% at its May meeting. The Australian Dollar is set to post lower lows vs its American rival. Australia will release inflation updates on Wednesday, two weeks ahead of the Reserve Bank of Australia (RBA) monetary policy meeting, scheduled for August 11-12. The Australian Bureau of Statistics (ABS) will publish two different inflation gauges: the quarterly Consumer Price Index (CPI) for the second...
U.S. President Donald Trump said on Tuesday that India will likely face trade tariffs of 20% to 25%, although a deal is yet to be finalized. The tariff level is far greater than the 15% duties recently imposed on Japan and the European Union, and comes despite earlier signaling from Trump that talks with India were progressing well. "I think so," Trump told reporters aboard Air Force One when asked if 20% to 25% was a possible tariff rate against India. A Reuters report earlier in the day suggested that India was likely to face the tariffs on some exports as a temporary measure. The...
Asian stock markets fell in unison on Thursday, following Wall Street's decline. A brief rally in tech stocks led by Nvidia quickly faded, prompting investors to turn away from riskier assets like...
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...
President Donald Trump announced a new peace pact between Rwanda and the Democratic Republic of Congo, which he linked to US access to critical minerals. At a meeting in Washington, Trump claimed...