China’s Economic Prospects Shadowed by First New Home Price Drop of 2023
China’s Economic Prospects Shadowed by First New Home Price Drop of 2023 In July, China experienced a notable event as new home prices declined for the first time this year. This occurrence adds to a series of discouraging data that collectively indicate a swift wane in overall economic momentum. It underscores the pressing need for […]
China’s Surprise Rate Cut Sparks Drop in Key Bond Yield and Yuan
China’s Surprise Rate Cut Sparks Drop in Key Bond Yield and Yuan The recent surprise rate cut by the People’s Bank of China (PBOC) has sent shockwaves through the Chinese market. The aim was to stimulate economic growth, but it has led to unintended consequences. The benchmark government bond yield has plummeted to a three-year […]
S&P 500 Futures Weaken as China’s Economic Concerns Resurface
S&P 500 Futures Weaken as China’s Economic Concerns Resurface Early Monday sees a subdued risk appetite as reports from China over the weekend cast further shadows on the world’s second-largest economy and the global economic landscape. Geopolitical tensions involving Russia and recent robust US data have also contributed to the prevailing sentiment, stoking fears of […]
UK Q2 GDP Preview: BoE Denies Recession Forecast Despite Expected No Growth
UK Q2 GDP Preview: BoE Denies Recession Forecast Despite Expected No Growth The anticipation surrounding the United Kingdom’s economic trajectory heightens as the Office of National Statistics (ONS) gears up to unveil the first estimate of the UK’s Gross Domestic Product (GDP) for the second quarter on August 11. A palpable sense of curiosity persists, […]
Asian Stock Markets Slide Amid US-China Concerns; Focus Shifts to US CPI
Asian Stock Markets Slide Amid US-China Concerns; Focus Shifts to US CPI Asian stock markets are trending downwards on Thursday, reflecting a sense of caution due to apprehensions about potential deflation in China and renewed tensions in the US-China trade relationship. Traders are opting to stay on the sidelines as they await the eagerly anticipated […]
First Time in Over 2 Years: China’s Consumer Prices Experience a Drop
First Time in Over 2 Years: China’s Consumer Prices Experience a Drop China’s consumer prices have taken an unexpected turn, experiencing a notable decline for the first time in over two years. The latest official data released on Wednesday revealed a 0.3% drop in China’s consumer-price index (CPI) for the month of July compared to […]
China Must Enhance Productivity in Light of Demographic Challenge, Advises Economist
China Must Enhance Productivity in Light of Demographic Challenge, Advises Economist Amidst the demographic intricacies China faces, the call to elevate productivity has emerged as a pressing concern, according to David Mann, the Chief Economist for Asia-Pacific, Middle East, and Africa at the Mastercard Economics Institute. Mann emphasized that the need to invigorate productivity is […]
Chinese Traders to Gradually Restart Australian Barley Imports
Chinese Traders to Gradually Restart Australian Barley Imports Chinese traders are poised to resume importing Australian barley following an announcement by China’s Ministry of Commerce (MOFCOM) stating an end to anti-dumping and countervailing duties on the crop, effective from Saturday. Industry sources informed the Global Times about the development, which is seen as a response […]
Euro Hovers Near 1.0950 Ahead of US NFP Data Release
Euro Hovers Near 1.0950 Ahead of US NFP Data Release As the week draws to a close, the Euro (EUR) continues to trade in an uncertain manner against the US Dollar (USD), keeping the EUR/USD pair confined within a tight trading bracket around the 1.0950 mark. The uncertainty is mirrored in the USD Index (DXY), […]
Asian Stock Market Continues Negative Trend
Asian Stock Market Continues Negative Trend Asian equity markets have been experiencing a continued negative trend recently, with several markets recording losses. The ripple effects of Fitch Ratings’ downgrade of the US government’s Long-Term Foreign Currency Issuer Default Rating from AAA to AA+ are becoming increasingly evident across global markets. This downgrade was due to […]
Manufacturing Sector Activity in the US Remained Weak in July
Manufacturing Sector Activity in the US Remained Weak in July Manufacturing activity in the United States remained weak in July, as indicated by the July ISM Manufacturing Index, which recorded a reading of 46.4. Although this was a slight improvement from June’s reading of 46.0, it fell short of the market’s expectation for a stronger […]
Banks Forecast Tougher Loan Conditions for Businesses and Consumers
Banks Forecast Tougher Loan Conditions for Businesses and Consumers Lending conditions for businesses and consumers in the United States are currently tight, and they are expected to become even more stringent, as indicated by a recent Federal Reserve survey released on Monday. The closely monitored Senior Loan Officer Opinion Survey revealed that credit conditions have […]
News and Views Around the Global Markets
News and Views Around the Global Markets The US Treasury market experienced a rally on Friday, triggered by an Employment Cost Index that had a lower-than-anticipated rise in the previous quarter. This, along with a less-than-expected core PCE deflator and a reduced U. of Michigan consumer sentiment, resulted in yields dropping between 2.9 to 6.4 […]
Surprise Move: Bank of Japan Makes a Small Adjustment to Yield Curve Control
Surprise Move: Bank of Japan Makes a Small Adjustment to Yield Curve Control The financial markets saw increased volatility due to several influential events, including the Federal Reserve’s decision and strong US economic data. The ECB, as anticipated, hiked its policy rates by 25 basis points to 3.75% while expressing concerns over high inflation. The […]
FOMC Adopts Flexible Policy Assessment, Meeting by Meeting
FOMC Adopts Flexible Policy Assessment, Meeting by Meeting In response to the complex challenges and uncertainties tied to balancing potential inflationary pressures against notable risks to economic expansion, the Federal Open Market Committee (FOMC) has adopted a flexible approach. The monetary policymaking body of the Federal Reserve System will now assess its policy on a […]
Nearly 76% of Business Leaders View Japan’s Economy as ‘Growing’
Nearly 76% of Business Leaders View Japan’s Economy as ‘Growing’ A recent survey conducted by Asahi Shimbun has shown a positive shift in business sentiment among Japan’s corporate leaders. Of the 100 major companies surveyed nationwide, 76% perceive the domestic economy as either “expanding” or “gradually expanding.” This marks a significant increase from the previous […]
US Dollar Index Reaches Near Two-Week High Amid Firm Yields
US Dollar Index Reaches Near Two-Week High Amid Firm Yields The US Dollar Index (DXY), a measure of the US dollar’s value against a basket of six major currencies, has been experiencing a steady uptick. It reached near two-week highs during the early Asian trading session on Tuesday, hovering around 101.45-40. This trend marks the […]
WTI Oil Holds Steady Above $76.60 as FOMC Meeting Approaches
WTI Oil Holds Steady Above $76.60 as FOMC Meeting Approaches Western Texas Intermediate (WTI), the benchmark for US crude oil, is maintaining its position above the $76.60 level on Friday, displaying consolidation after achieving its fourth consecutive weekly gain. This upward momentum comes amidst indications of a tightening oil market. Adding to market dynamics, tensions […]