During a state visit to France, President Emmanuel Macron and President Joe Biden emphasized the importance of preventing a broader escalation in the Middle East. Macron highlighted the need to calm the situation between Israel and Hezbollah, with a key priority being to avoid a regional explosion in Lebanon. Both leaders expressed their commitment to
Economy
The dollar has been hovering close to an eight-week low, awaiting the release of a crucial U.S. jobs report. This report is expected to provide insights into the Federal Reserve’s decision on interest rate cuts. The U.S. dollar index, which measures the currency against major rivals, has been relatively stable but is close to breaking
The euro strengthened slightly on Thursday in anticipation of the European Central Bank’s policy decision. Traders are expecting a rate cut to be almost certain during this meeting. The euro was up 0.07% to $1.0876 as traders eagerly awaited guidance on the bank’s future rate outlook. While policymakers have hinted at lowering borrowing costs, the
As investors ponder the outcomes of recent national elections and the potential for US easing, emerging market currencies face an uphill battle in the coming months. According to a recent Reuters poll of currency analysts, the outlook for these currencies remains bleak, with little hope for a significant rebound in the near future. The US
In a recent announcement, buyout firm Apollo Global Management revealed its plans to acquire a 49% equity interest in Intel’s manufacturing facility in Ireland for a staggering $11 billion. This move marks a significant development in the technology and semiconductor industry, with Apollo taking over a substantial stake in the Fab 34 facility located in
The recent statements made by Bank of Japan Deputy Governor Ryozo Himino regarding the impact of the yen’s movements on the economy have sparked discussions about the central bank’s approach to monetary policy. Himino emphasized the need for vigilance in analyzing the effects of exchange rate volatility on economic activity, prices, and overall economic outlook.
European shares experienced a rise for the third consecutive session, with bond-proxy sectors leading the way. This surge was attributed to expectations of an interest rate cut from the European Central Bank (ECB) later in the week. The STOXX 600 index ended higher, with Spanish and Italian stocks showing significant gains. Global factory activity offered
As Mexican president-elect Claudia Sheinbaum prepares to take office, she is confronted with the daunting task of fulfilling campaign promises to expand social programs in the wake of a significant budget deficit. The deficit, which soared to 5.9% of gross domestic product (GDP) in 2024, has been largely attributed to the spending spree initiated by
As Asia kicks off the new trading month for global markets, all eyes are on the manufacturing PMI data from the continent’s biggest economies. Countries such as China, Japan, Taiwan, Australia, South Korea, and India will release figures showing how factory activity fared last month. One of the most anticipated numbers is China’s unofficial Caixin
The stock markets in the Gulf region saw a positive trend on Sunday, with the Saudi index leading the way. After hitting a five-month low, the benchmark index in Saudi Arabia rose by 1.1%. This increase was primarily driven by gains in various sectors, particularly in IT, utilities, and healthcare stocks. Notably, ACWA Power saw
The Australian housing market continues to show strong growth, with home prices climbing at a brisk pace in May. According to data from property consultant CoreLogic, national home prices rose 0.8% in May, marking the sixteenth consecutive month of growth. This surge in prices is largely attributed to a sustained squeeze on the supply of
As Standard & Poor’s (S&P) downgraded France’s long-term sovereign debt rating from “AA” to “AA-” just days before the EU parliamentary election, the market reaction is expected to be relatively mild. Citigroup analysts predict that the spread between French and German benchmark bonds may widen by 3-5 basis points, pushing it to around 50 bps.