The latest economic data reveals that exports have surged by 7.8% year-on-year, showcasing a positive trend in international trade. On the other hand, imports experienced a more modest growth of 0.5%. Notably, Japanese exports to the US have seen a substantial increase of 18.4% year-on-year, while exports to Western Europe also demonstrated a significant rise
The National Retail Federation (NRF) recently projected that U.S. retail sales are expected to increase by up to 3.5% in 2024, which is a slower pace compared to the growth seen in 2023. This forecast comes at a time when inflation is proving to be a significant hindrance to a robust recovery in consumer spending.
Tokio Marine, a Japanese insurer, is setting its sights on overseas acquisitions and could potentially spend around $10 billion on such ventures. The co-head of the company’s international business, Chris Williams, revealed that Tokio Marine’s international business now contributes more than 50% of the company’s profits, a significant increase from less than 3% two decades
The US Dollar is facing some obstacles as it nears the Federal Reserve rate decision, slipping from its high to below 104.00. Investors are closely watching the US Federal Reserve (Fed) as it prepares to announce its monetary policy statement and provide insight on the number of anticipated rate cuts for the year. The dot
The Danish central bank surprised many on Wednesday when it almost doubled its forecast for economic growth this year. The increase in projection was attributed to strong production by drug maker Novo Nordisk and the restart of natural gas production in the North Sea. The central bank now anticipates GDP to grow by 2.4% this
The current state of the gold market is one of struggle as the price of gold hangs near a one-week low. This lack of meaningful traction can be attributed to hawkish expectations from the Federal Reserve. The robust US consumer and producer inflation figures released last week have fueled speculations that the Fed will maintain
The Office for National Statistics is set to release the UK CPI data for February, providing key insights into the country’s inflation rate and its potential impact on the Bank of England’s interest rate policy. This analysis will delve into the expectations for the CPI data, the BoE’s stance on interest rates, and the possible
Malaysia’s central bank has highlighted the importance of accelerating structural reforms to ensure long-term sustainable economic strength and to support the ringgit currency. With favourable economic conditions expected in 2024, such as moderate inflation and a projected pick-up in trade activity, the government has a window of opportunity to implement necessary changes. The shift from
The trade tensions between Europe and Beijing are expected to increase as China’s manufacturing capabilities in strategic industries continue to grow rapidly. Jens Eskelund, the president of the European Union Chamber of Commerce in China, expressed his concerns by calling it a “slow-motion train accident.” He emphasized that Europe cannot stand by and watch as
The Bank of England’s decision to maintain interest rates at 5.25% in its recent meeting reflects the cautious approach policymakers are taking in light of stable inflation at 4.0% y/y in January. While one member advocated for a rate cut, the central bank refrained from making any immediate changes, citing the need for further evidence
The likelihood of a 25-basis point Fed rate cut has decreased from 62.6% on March 12 to 55.6% on March 19. The chances of a 50-basis point Fed rate cut have also dwindled from 19.1% on February 16 to 3.6% on March 19. This shift in probability has created uncertainty around a potential June Fed
Ethiopia’s largest bank, the state-owned Commercial Bank of Ethiopia, is facing a major setback as it tries to recover millions of dollars lost due to a technical glitch over the weekend. Reports from local media indicate that more than $40 million was withdrawn from the bank or transferred to other financial institutions after customers were