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
Jerome Powell, Chairman of the Federal Reserve System (Fed), and Christine Lagarde, European Central Bank (ECB) President, will speak at the 2025 ECB Forum on Central Banking at 13:30 GMT on Tuesday, July 1.Alongside Fed Chairman Powell and ECB President Lagarde, Bank of England (BoE) Governor Andrew Bailey and Bank of Japan (BoJ) Governor Kazuo Ueda will also be taking part in the same panel. The Fed left its policy rate unchanged in the range of 4.25%-4.5% following the June policy meeting, and the revised Summary of Economic Projections (the so-called dot-plot) showed that policymakers...
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. It was the softest contraction in the sequence, with output rising the most in three months (51.0 vs 50.7 in May), supported by a trade deal with the US and Beijing's ongoing efforts to stimulate domestic demand and bolster the sluggish economy. Additionally, new orders grew for the first time in three months (50.2 vs 49.8), while foreign sales fell the least in three months (47.7 vs 47.5). A...
Iran's foreign minister Abbas Araqchi indicated on Friday that Tehran may reject any request by the head of UN nuclear watchdog the IAEA for visits to Iranian nuclear sites. "(IAEA head Rafael Grossi's) insistence on visiting the bombed sites under the pretext of safeguards is meaningless and possibly even malign in intent," Araqchi wrote in a post on X. "Iran reserves the right to take any steps in defense of its interests, its people, and its sovereignty." The IAEA earlier said in a statement: "(Grossi) emphasised the need for IAEA inspectors to continue their verification activities in...
U.S. Treasury Secretary Scott Bessent said on Friday the Trump administration's various trade deals with other countries could be done by the Sept. 1 Labor Day holiday, citing talks with 18 main U.S. trading partners and new revisions to a deal with China aimed at expediting rare earths shipments. After a week where tariffs took a back seat to the U.S. strike on Iran's nuclear facilities and the massive tax and spending bill in Congress, the Trump administration's trade negotiations have picked up. The United States sent a new proposal to the European Union on Thursday and India sent a...
The US Personal Consumption Expenditures (PCE) price index rose by 0.1% month-over-month in May 2025, the same as in April and in line with expectations. Prices for goods were up 0.1%, the same as in April and prices for services rose 0.2%, above 0.1% in the previous month. The core PCE index, which excludes volatile food and energy prices, rose 0.2%, above 0.1% in the previous two months and forecasts of 0.1%. Source: Trading Economics
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...