The International Monetary Fund (IMF) recently raised its global growth forecast, pointing to the unexpected strength of the U.S. economy and fiscal support measures in China. With global growth projected at 3.1% in 2024, an increase of 0.2 percentage points from its previous forecast, the IMF suggests that the risk of a hard landing has
Asian shares experienced a decline on Tuesday after property giant China Evergrande was ordered to undergo liquidation. The court-ordered liquidation intensified concerns about the nation’s fragile property market, leaving investors on edge. The situation surrounding Evergrande Group raises questions about its future and how its impact will ripple throughout the Chinese real estate sector. The
The GBP/JPY pair is experiencing a continued decline, with risk-off sentiment prevailing due to increased tensions in the Middle East. This has led investors to seek the safe-haven status of the Japanese Yen (JPY), thereby putting pressure on the GBP/JPY cross. Additionally, Japan’s Unemployment Rate contracted to 2.4% in December, signaling positive labor market conditions.
EURUSD, a major indicator of Euro’s strength, is currently experiencing a period of indecision. The currency pair is showing sideways movement near the 1.0850 level after two consecutive weeks of negative performance. This lack of a clear recovery signal in the near-term technical outlook reflects the cautious stance of market participants. Traders and investors are
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%.
Despite the overall strength of the job market, workers’ confidence in their employers’ business outlook has reached its lowest level since 2016, according to the Glassdoor Employee Confidence Index. The decline in the index suggests that job security is a major worry for employees heading into 2024. Layoff announcements by big technology firms like Amazon,
The EUR/USD currency pair is currently experiencing minimal fluctuations as it consolidates around the 1.0840 level. Traders and investors are closely watching the upcoming meeting of the US Federal Reserve System, which is expected to be the pivotal event of the week. This meeting will provide crucial insights into whether the Fed plans to lower
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 recent court order for the liquidation of China Evergrande Group is expected to have a far-reaching impact on China’s financial markets. The move comes as policymakers struggle to contain the deepening crisis in the country’s property sector. With over $300 billion in total liabilities, Evergrande is the world’s most indebted developer. Its default on
The GBP/USD pair continues to struggle to find a clear near-term direction, oscillating within a familiar trading range. Traders are treading cautiously as reduced bets for an early Bank of England (BoE) rate cut lend some support to the British Pound (GBP), while uncertainty surrounding the Federal Reserve’s (Fed) rate-cut path holds back any definitive
Hungary is facing a crucial decision regarding a potential technical change in the calculation of loan repayment rates. This change aims to reduce borrowing costs and stimulate economic growth. However, it has faced criticism from the Bank of Hungary, raising concerns about its effectiveness and impact on policy maneuverability. Finance Minister Mihaly Varga revealed in
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