Germany’s economy unexpectedly contracted in the second quarter of 2023, raising concerns about a potential recession. The country’s gross domestic product (GDP) declined by 0.1% compared to the previous three months, according to preliminary data …
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Dollar Rises on Safe-Haven Demand, Sterling Drops on Weak Retail Sales
The US dollar rose against a basket of currencies on Friday, driven by its safe-haven appeal amidst global uncertainties. The greenback benefited from concerns about worsening US-China relations, uncertainty surrounding the US presidential race, and …
Continue readingYen Surges on Intervention Suspicions, Sterling Hits One-Year High Against Dollar
The Japanese yen surged against the US dollar on Wednesday, sparking speculation that Japanese officials intervened to support the currency. The yen has seen several sharp rallies in recent days, recovering from a 38-year low …
Continue readingInflation, Japan, Yen, Import Costs, Interest Rate Hike, BOJ
Japan’s wholesale inflation soared in June, reaching a record high for the seventh consecutive month, driven by a weakening yen and rising import costs. The corporate goods price index (CGPI), which measures prices companies charge …
Continue readingFed Chair Powell Hints at Rate Cut: “More Good Data” Needed for Easing Monetary Policy
Fed Chair Jerome Powell signaled a potential shift in monetary policy on Tuesday, suggesting that “more good data” would strengthen the case for interest rate cuts. While inflation remains above the Fed’s 2% target, recent …
Continue readingCanada’s Jobless Rate Surges to 29-Month High, Boosting Rate Cut Bets
Canada’s unemployment rate climbed to a 29-month high of 6.4% in June, raising concerns about a potential recession and increasing expectations of a rate cut by the Bank of Canada (BoC) this month. The rise …
Continue readingUS Job Market Shows Resilience Despite Slowing Growth
The US economy added a healthy 206,000 jobs in June, demonstrating its ability to withstand high interest rates. While this represents a slight dip from May’s 218,000 job gain, the solid increase reflects the strength …
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