The US dollar strengthened on Thursday as escalating geopolitical tensions in the Middle East boosted its safe-haven appeal. Meanwhile, the British pound fell after the Bank of England cut interest rates from a 16-year high. …
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US Manufacturing Gauge Dips to Eight-Month Low, But Signs of Stabilization Emerge
The Institute for Supply Management (ISM) reported that its manufacturing PMI fell to 46.8 in July, marking an eight-month low. This decline was attributed to a slump in new orders. However, despite the downturn, the …
Continue readingBitcoin Drops 5% as US Government Sale Fears Overshadow Trump’s Crypto Support
Bitcoin’s price plunged 4.8% on Tuesday, erasing a weekend rebound driven by Donald Trump’s positive remarks on crypto regulation. Reports emerged that the US government moved $2 billion worth of seized Bitcoin, sparking concern over …
Continue readingGold Prices Surge Near $2,400 on Rate Cut Bets
Gold prices rallied in Asian trading on Monday, pushing towards the $2,400 mark as investors bet on potential interest rate cuts by the Federal Reserve. The precious metal has been gaining traction after encouraging inflation …
Continue readingUS Economy on Track for Soft Landing, Rate Cuts Imminent: UBS
UBS analysts remain confident in a soft landing for the US economy, with inflation cooling down and the Federal Reserve poised to cut interest rates. The investment bank predicts a near-100% chance of a rate …
Continue readingUS Retail Sales Steady in June, Signalling Consumer Resilience
The US economy received a boost in June as retail sales remained unchanged, indicating continued consumer spending despite ongoing economic uncertainties. This resilience was particularly encouraging given the decline in auto dealership sales, which was …
Continue readingDow Hits Record High as Rate Cut Bets Fuel Wall Street Surge
Wall Street stocks soared on Tuesday, with the Dow Jones Industrial Average reaching a record closing high, as investors grew optimistic about the Federal Reserve’s potential to begin easing interest rates. Strong retail sales data …
Continue readingOil Prices Slip Despite Strong US Fuel Demand
Oil futures closed slightly lower on Friday, with investors weighing the impact of a weak consumer sentiment report against growing expectations of a Federal Reserve rate cut in September. Brent crude futures settled at $85.03 …
Continue readingWall Street Surges on Rate Cut Bets, Strong Earnings Outlook
Wall Street closed higher this week, buoyed by investor bets on an imminent Federal Reserve rate cut and strong second-quarter earnings expectations. The S&P 500 gained 0.9% for the week, the Nasdaq rose 0.2%, and …
Continue readingUS Producer Prices Rise Slightly in June, but Inflation Pressures Ease
The US producer price index (PPI) climbed 0.2% in June, exceeding expectations, driven by a rise in the cost of services. However, the overall trend suggests inflation pressures are easing. The PPI, which measures prices …
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