Federal Reserve Governor Christopher Waller said concerns about private-sector hiring have fueled his call for the central bank to cut interest rates this month. "The private sector is not performing as well as everyone thought," Waller said Friday in an interview on Bloomberg Television. The monthly employment report for June, released on July 3, showed a sharp slowdown in private-sector job growth and a slowdown in wage growth, even as the unemployment rate declined slightly. His comments followed a speech he delivered Thursday in New York in which he argued that with limited inflation...
Inflation in the US, as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged higher to 2.6% on a yearly basis in December from 2.4% in November, the US Bureau of Economic Analysis (BEA) reported on Friday. The core PCE Price Index, which excludes volatile food and energy prices, rose 2.8% in the same period, matching November's reading and the market expectation. The core PCE Price Index rose 0.2% on a monthly basis. Source: Fxstreet
US President Donald Trump has confirmed that he will impose 25% tariffs on imports from Canada and Mexico, effective February 1. It remains to be seen whether crude oil, a significant import from these countries, will be included in the tariffs. The tariffs are intended to address issues such as migration, fentanyl trafficking and trade imbalances. However, Nigel Green, CEO of deVere Group, a global financial advisory and asset management firm, warned that the move carries significant risks for investors worldwide. The US imports around 40% of its crude oil, mainly from Canada. If oil is...
Tokyo's inflation accelerated in December 2024, with the headline consumer price index posting at 3.4% after a lower increase of 3.1% in the prior month, data released by Statistics of Japan on Friday showed. The reading, which includes all items, is the highest since April 2023. The core CPI, which doesn't count fresh food items, was up 2.5% over the same month in the previous year after a 2.4% gain in November 2024. Food prices, excluding perishables, climbed 4.7% in December, faster compared with the 4% rise a month before. Rent prices, on the other hand, have been growing steadily by...
The European Central Bank cut interest rates on Thursday and policymakers guided for a further reduction in March as concerns over lacklustre economic growth supersede worries about persistent inflation. It was the fifth ECB rate cut since June and markets expect two or three more this year, driven by arguments that the biggest inflation surge in generations is nearly defeated and the flagging economy needs relief. "We know the direction of travel," ECB President Christine Lagarde told a press conference after the decision. "At which pace, with what sequence, what magnitude, will be...
US citizens filing new applications for unemployment insurance rose to 207K for the week ending January 25, the US Department of Labor (DoL) reported on Thursday. The reading missed the preliminary estimate and was lower than the previous week's unrevised reading of 223K. The report also highlighted the seasonally adjusted insured unemployment rate at 1.2%, while the four-week moving average eased to 212.50K, marking a decrease of 1K from the previous week's unrevised average. Furthermore, Continuing Jobless Claims fell by 42K to 1.858M for the week ending January 18.(AL) Source: FXstreet
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...
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 said Wednesday he plans to send a single letter to over 150 countries outlining the tariff rate they will face, saying, "It's all going to be the same for everyone, for that...