Asian currencies have shown strength against a weakening U.S. dollar in recent trading sessions. The euro, Australian dollar, and New Zealand dollar all experienced gains, with the euro even surpassing its 200-day moving average. Despite these positive movements, the Japanese yen remained under pressure ahead of a Bank of Japan meeting. Following the release of
Economy
As investors eagerly await the release of key U.S. inflation data and updated interest rate projections from the Federal Reserve, the dollar has managed to stabilize after reaching a four-week high against other major currencies. This stability comes in light of Friday’s stronger-than-expected jobs report, which has sparked concerns about sticky inflation levels and robust
Poland is facing significant challenges in managing its fiscal policy due to rising expenditure needs related to infrastructure, climate risks, and security costs driven by the war in Ukraine. The International Monetary Fund (IMF) has emphasized the importance of setting a “very high bar” for more fiscal loosening in order to address these growing financial
As Asian markets cautiously gauge the fallout from the success of right-wing parties in the European Union, there is growing concern about what this might mean for the cohesion of the bloc. While EUROSTOXX 50 futures edged up slightly, the overall sentiment remains cautious. The first opinion poll suggested that the far-right National Rally party
The recent pause in China’s gold buying spree is expected to be short-lived, with industry players predicting a resumption once prices ease from the record highs hit in May. China, the biggest official sector buyer of gold, has been steadily increasing its gold reserves for 18 consecutive months. Despite a halt in May, experts believe
Pakistan’s coalition government is gearing up to unveil its fiscal targets in the 2024/2025 budget, which is expected to play a crucial role in securing a much-needed bailout deal with the International Monetary Fund (IMF). The proposed budget is aimed at addressing the widening gap between revenue collection and total expenditure in order to meet
Recent data from the Recruitment and Employment Confederation revealed that the decline in permanent hiring in Britain was the mildest in over a year in the month of May. This positive development is seen as a significant step towards the recovery of the recruitment market in the country. According to the report, there has been
The euro took a sharp dive as French President Emmanuel Macron decided to call for a surprise election following a defeat in the European Union vote by the far-right. The currency fell by 0.3% in Asian trading, reaching a one-month low of $1.0764. Additionally, it plummeted to a 21-month low of 84.60 pence. This sudden
The Group of Seven (G7) wealthy democracies are gearing up to issue a stern warning to smaller Chinese banks regarding their involvement in helping Russia evade Western sanctions. The upcoming summit, scheduled to take place from June 13-15 in Italy, will see leaders delving deep into discussions on the burgeoning Chinese-Russian trade and its implications
Chanel, one of the top luxury fashion labels in the world, faced a significant event with the departure of its top designer. This departure sent ripples across the $1.62 trillion luxury goods industry as it signaled a shift in the industry dynamics. The departure of Chanel’s designer, Virginie Viard, who succeeded Karl Lagerfeld, raised questions
Israeli Finance Minister Bezalel Smotrich has called for talks next week to draft the 2025 state budget. These discussions are described as “marathon discussions” and are aimed at moving the economy forward from a war that has put a strain on public finances. The Finance Minister stressed the importance of boosting growth during these talks.
Following the recent decision by the European Central Bank (ECB) to slash its benchmark interest rate, there seems to be uncertainty surrounding the potential implications of this move. ECB policymaker Robert Holzmann has expressed reservations about whether this rate cut signals a definitive shift towards lower borrowing costs or if it is merely a temporary