The latest data from the Australian Bureau of Statistics (ABS) reveals that food sales experienced a modest increase of 0.1%. However, there was a significant decline in sales for household goods and department stores, with respective drops of 8.5% and 8.1%. Sales for clothing, footwear, and personal accessories also saw a decline, falling by 5.7%.
Forecasts
The recent inflation numbers for Tokyo have shown a softer-than-expected rate of inflation, reducing the pressure on the Bank of Japan (BoJ) to take immediate action. The annual inflation rate has eased from 2.4% to 1.6%, and core inflation has declined from 2.1% to 1.6%. However, the BoJ is closely monitoring wage growth and household
The Federal Open Market Committee (FOMC) held its last meeting in December 2024 and decided to keep interest rates unchanged. This decision was accompanied by a signal for several rate cuts throughout 2024. However, as we approach the next FOMC meeting, there are mixed opinions among Fed representatives regarding the appropriate course of action for
The recent report by the Commerce Department has revealed that inflation is cooling in the United States. With a reading of 2.9% yearly, there has been a decline of 0.3% when compared to the previous month’s inflation level. This indicates that the recent restrictive monetary policy of the Federal Reserve has made an impact on
The US Dollar Index showed bullish behavior on January 26, gaining 0.18% and reaching 103.321. This upward movement was primarily fueled by positive U.S. economic data. The Advance GDP growth exceeded expectations at 3.3%, suggesting a robust U.S. economy. Although the Unemployment Claims slightly surpassed forecasts at 214K, they still indicated a stable job market.
The People’s Bank of China (PBoC) recently announced plans to reduce the Reserve Requirement Ratio (RRR) by 0.5 percentage points on February 5. This move by the PBoC is aimed at boosting bank lending to qualified developers and stimulating the real estate market. The announcement of these measures indicates the PBoC’s commitment to supporting economic
Bank of Japan Governor Kazuo Ueda recently discussed the blueprint for exiting negative rates, shedding light on two focal points: wage growth and the services sector. The Jibun Bank Services PMI unexpectedly increased from 51.5 to 52.7 in January. This significant growth indicates a noteworthy rise in input prices and hiring among service sector firms.
Looking at the monthly timeframe, it is evident that the trend for EUR/CHF is firmly to the downside. A significant technical observation on this scale is the completion of a bearish chart pattern. This breakout lower beneath the lower boundary of a descending triangle formation, which extended from the high of CHF1.0042 and a low
The recent interest rate decision, statement, and press conference by the Bank of Japan have left investors with little to no clue about the future direction of the yen. This lack of clarity has caused the yen to give up its gains against the US dollar. Unfortunately, it seems to be a recurring theme that
The U.S. Dollar Index (DXY) has demonstrated consistent performance in January, reaffirming its position as a dominant force among developed market currencies. Despite fluctuating market expectations and central bank decisions globally, the index has remained stable at a level of 103.214. This article examines the factors contributing to this stability and analyzes the potential trajectory
The People’s Bank of China (PBoC) is set to determine the 1-year and 5-year loan prime rates (LPR) in an attempt to support the Chinese economy. Economists are predicting that the rates will remain unchanged at 3.45% and 4.20% respectively. While more accommodative measures could boost the Australian economy and increase demand for the AUD/USD,
Gold futures closed the week with modest gains, experiencing fluctuations in response to various market factors. The most active February futures contract saw an increase of $10 (0.49%) to reach $2031.60 at the end of the trading day. Despite the weekly decline caused by sharp drops on Tuesday and Wednesday, gold futures displayed resilience and