Consumer spending plays a crucial role in shaping the overall economy and influencing interest rates. Recent trends in Australia indicate a downward trajectory in consumer spending, which can have a dampening effect on inflationary pressures. Economists predict a 1.5% increase in ANZ-Indeed Jobs Ads for December, following a significant 4.6% decline in November. These job
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Japanese stocks have started off the year 2024 with a bang, reaching three-decade highs. This surge in the market can be attributed to two key factors: a weaker yen and the expectations of persistently low interest rates. The Nikkei has experienced a remarkable 6% gain over the past two weeks, marking the best start to
The European Central Bank (ECB) is currently faced with the decision of whether or not to implement a series of interest rate cuts. In an interview with ECB chief economist Philip Lane, he stated that the ECB would have key data by June to make an informed decision. However, Lane also expressed caution about moving
The recent approval of 11 spot bitcoin exchange-traded funds (ETFs) by the Securities and Exchange Commission (SEC) signifies a potential turning point for cryptocurrency investing. Led by industry veteran Cathie Wood, these new ETFs aim to promote the democratization of bitcoin access and provide more opportunities for investors. Wood, the CEO and Chief Investment Officer
Wells Fargo, one of the largest banks in the United States, reported a rise in fourth-quarter profit from a year ago. However, despite the positive news, the bank’s shares fell more than 1% before the market opened on Friday. The reason behind this decline was the bank’s warning about the potential for significantly lower net
The past trading session saw the EUR/USD pair closing slightly higher at 1.09736, representing a modest increase of 0.01%. Similarly, the GBP/USD pair experienced an uptick and closed at 1.27628, marking a rise of 0.16%. Concurrently, the US Dollar Index (DXY) also edged up by a negligible 0.01%, closing at 101.965. In the Eurozone, the
The AUD/USD pair has been showing signs of an upward movement, with the potential to rally if it manages to clear the resistance level of 0.6725. Starting from the support level of 0.6650, the Aussie Dollar has made a fresh increase, surpassing the resistance levels of 0.6680 and 0.6695 against the US Dollar. This positive
China and Russia have recently achieved a significant milestone in their economic relationship, with two-way trade between the two countries reaching $240 billion in 2023, according to Chinese customs data. This record-breaking figure reflects their efforts in bolstering economic ties, despite the ongoing conflict in Ukraine and Western sanctions on Russia. China has emerged as
EUR/GBP faces challenges as improved production data from the United Kingdom puts downward pressure on the Euro. The UK Manufacturing Output MoM rose by 0.4% in November, exceeding expectations. Additionally, Manufacturing Production YoY increased by 1.3%, although it fell short of expectations for a 1.7% growth. These positive indicators from the UK’s industrial sector have
China’s exports experienced a welcomed boost in December, showcasing a faster growth rate compared to the previous month. However, it is important to recognize that deflationary pressures continued to persist, indicating the need for further policy easing measures to strengthen an economy that still bears significant weaknesses as it enters 2024. While this surge in
The US stock market experienced a tumultuous day on Thursday as higher-than-expected inflation figures shook investor confidence. The Consumer Price Index (CPI) inflation came in broadly above market expectations, leading to a decline in equity indexes and a surge in safe-haven assets. However, the market managed to regain its footing later in the day, thanks
The annual inflation rate saw a slight uptick in December, ending a two-month decline. While some might find this concerning, economists argue that the reversal is not necessarily a cause for alarm and could even be misleading. According to Sarah House, a senior economist at Wells Fargo Economics, the country is still making progress in