The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
US retail sales were little changed in October as a decline at auto dealers and weaker gasoline receipts offset stronger spending in other categories. The value of retail purchases, not adjusted for inflation, was essentially unchanged after a revised 0.1% gain in September, according to a Commerce Department report that was delayed due to the government shutdown. Excluding auto dealers and gasoline service stations, sales increased 0.5%. Eight out of 13 retail categories posted increases, including solid advances at department stores and online merchants. Motor...
US job growth remained sluggish in November and the unemployment rate rose to a four-year high, pointing to a continued cooling in the labor market after a weak October. Nonfarm payrolls increased 64,000 in November after declining 105,000 in October, according to Bureau of Labor Statistics data out Tuesday. The unemployment rate was 4.6% last month, up from 4.4% in September. The BLS had to forgo publishing an October jobless rate because it was unable to retroactively collect that data following the government shutdown. The decline in October payrolls, which was the...
Nonfarm Payrolls (NFP) in the United States rose by 64,000 in November, according to a report from the U.S. Bureau of Labor Statistics (BLS) on Tuesday. This figure was better than market expectations of a 50,000 increase. (alg) Source: FXstreet
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...
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 dekat level tertinggi sejak awal Oktober yang disentuh pada Kamis lalu, jadi tekanan jual sejauh ini masih terbatas. Dolar AS (USD) terlihat menguat pelan setelah sebelumnya tertekan ke level terendah lebih dari dua bulan. Kenaikan ini lebih mirip rebound teknikal ketimbang perubahan tren besar, karena ekspektasi pasar masih condong ke The Fed yang dovish. Bank sentral AS baru saja memangkas suku...