Treasury Secretary Scott Bessent said there will be one or two more interviews this week for the next Federal Reserve chairman, with President Donald Trump likely announcing the next chairman sometime in early January. "This is right up the president's alley," Bessent said on Fox Business on Tuesday. "He's been very, very thorough," and also "very direct with the candidates in the interviews in terms of asking for their views on Fed policy, the Fed's structure, the path forward, and the economy." Bessent also praised two candidates - National Economic Director Kevin Hassett and former Fed...
The Australian Bureau of Statistics (ABS) will release its October monthly employment report at 00:30 GMT on Thursday (11/14). The country is expected to have added 25,000 new jobs, while the Unemployment Rate is expected to remain steady at 4.1%. The Australian Dollar (AUD) is trading near a multi-week low against the US Dollar (USD) ahead of the event amid continued USD demand, with the AUD/USD pair trading just above the 0.6500 mark. The ABSEmployment Change report separates full-time jobs from part-time jobs. By definition, full-time jobs mean working 38 hours or more per week and...
A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve officials face in trying to achieve their target. The so-called core consumer price index — which excludes food and energy costs — increased 0.3% for a third month and 3.3% from a year ago, Bureau of Labor Statistics figures showed Wednesday. Economists see the core gauge as a better indicator of the inflation trend than the overall CPI. That measure, which includes food and energy, rose 0.2% for a fourth month and 2.6% from a year before, marking...
Japan's wholesale inflation accelerated in October as a weaker yen pushed up import costs for some goods, data showed on Wednesday, complicating the central bank's decision on how quickly to raise interest rates. The corporate goods price index (CGPI), which measures the prices companies charge each other for goods and services, rose 3.4% in October from a year earlier, Bank of Japan data showed, above market forecasts for a 3.0% increase. That followed a 3.1% increase in September. The yen-based import price index fell 2.2% in October from a year earlier, slowing from a 2.5% decline in...
The number of Americans filing claims for unemployment benefits rose to 221,000 in the week ending Nov. 3, 2024. That was above the 223 estimate and up from the previous weekly reading of 218, the Labor Department said on Thursday. Source: @Newsmaker23
Economic activity in the US services sector accelerated in October, with the ISM Services PMI rising to 56 from 54.9 in September. This was higher than the market forecast of 53.8. Other details from the report showed that the Prices Paid Index, a component of inflation, edged down to 58.1 from 59.4, while the Employment Index improved to 53 from 48.1. Assessing the survey findings, "concerns over political uncertainty were again more prominent than in the previous month," said Steve Miller, Chair of the Institute for Supply Management's (ISM) Services Business Survey Committee. "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...
Pasangan mata uang EUR/USD mengawali pekan ini dengan nada sedikit melemah di sesi Asia, diperdagangkan di sekitar 1,1730, turun kurang dari 0,10% dalam sehari. Meski terkoreksi, euro masih berada...
US President Donald Trump said Washington is willing to provide security assistance to Ukraine as part of a deal to end the war with Russia. He emphasized that security support is a crucial factor...