Quick Look: The Malaysian ringgit rallied 2.3% on Monday, its biggest gain since October 2015. Malaysia’s efforts to attract foreign investments and reduce subsidies have boosted the ringgit. The ringgit hit its strongest level since April 2023, driven by strategic economic maneuvers. Analysts see potential for the ringgit’s sustained recovery amid favorable economic conditions. In …
Quick Look: Tepid U.S. Data: Weak economic data stokes fears; markets anticipate a 50 bps rate cut by the Fed in September. Eurozone Weakness: Germany’s economy contracts by 0.1%; the manufacturing sector shows persistent contraction. Fed’s Balanced Approach: Fed keeps rates steady; hints at potential rate cut in September if trends persist. Global Central Banks: …
Quick Look: Major indices fell sharply, with the Dow Jones down 1.2%, the S&P 500 down 1.4%, and the Nasdaq down 2.3%. Meta’s shares rose 4.8% on strong quarterly results, but the increase could not offset the overall market decline. The ISM manufacturing index hit an eight-month low, triggering significant market selling. Utilities and real …
Quick Look: U.S. private sector wages saw their slowest growth in over three and a half years, signalling a potential downward trend in inflation. Interest rate reductions are anticipated in September as inflation cools and economic equilibrium approaches. Labour cost growth slowed to a 0.9% rise last quarter, marking the smallest annual gain since late …
U.S. Labour Costs Rise 0.9% in Q2, Inflation Cools Read More »
Quick Look: Fundstrat predicts a potential 5% surge in the S&P 500 within the next week. Expect a September rate cut by the Federal Reserve following no rate cut in July. Past Fed meetings have led to stock market rallies, supporting the 5% surge prediction. A rate cut could boost the housing market and other …
S&P 500 Poised for 5% Rally Amid Fed Meeting Outcomes Read More »
Quick Look: The peso fell 0.8% to 18.7924 per dollar, hitting a seven-week low. Mexico’s GDP grew only 0.2%, missing the 0.4% target, hinting at potential rate cuts. Other Latin American currencies, like Chile’s and Colombia’s pesos, are also weakening. Uncertainty over US Fed decisions affects local stock markets and investor sentiment. Mexico’s peso recently …
Peso Drops 0.8% to 18.7924 per Dollar: Economic Challenges Read More »
Quick Look: Stocks Reach Record Highs: Corporate earnings drive the stock market to unprecedented highs despite ongoing inflation concerns. Cooling Inflation: PCE price index slowed to 2.5% in June, sparking optimism for potential Federal Reserve rate cuts. Economic Growth: The U.S. economy grew at an annualized rate of 2.8% in Q2, exceeding expectations and fueling …
Stocks Reach Record Highs Amid Inflation Cooling in 2024 Read More »
Quick Look: Cryptocurrency Strategy: Russia leverages cryptocurrency to counteract Western sanctions, significantly altering its financial landscape. Sanctions Impact: Russia’s exclusion from the SWIFT banking system has severely hampered its global trade capabilities. Regulatory Moves: A new bill aims to regulate crypto mining, with large-scale operations needing government approval and oversight. Digital Rouble Introduction: The Russian …
Russia Turns to Cryptocurrency to Evade Sanctions Read More »
Quick Look: USD/CHF climbed 0.15% to 0.8830 after two sessions of losses. June PCE Price Index dipped to 2.5% YoY; core PCE rose to 2.6% YoY. Mild disinflation and economic growth suggest a steady Fed policy. USD/CHF below key SMAs; continues a four-week losing streak. In Friday’s trading session, the USD/CHF currency pair finally saw …
Quick Look: US GDP rose by 2.8% in Q2, indicating economic resilience despite high prices and interest rates. Consumers remained active but cautious, affecting labour market dynamics and spending behaviour. Focus on high-growth, productivity-enhancing sectors shows business confidence in long-term benefits. Increased investment in AI technology boosts economic performance but requires careful investment strategies. The …
Unexpected 2.8% GDP Growth in Q2: Economic Implications Read More »
Quick Look: The Indian rupee is poised to hit a historic low of 83.74-83.75 against the US dollar, surpassing its previous all-time low of 83.72. Despite the Reserve Bank of India’s efforts to stabilize the currency, the rupee has declined for four consecutive days. Increased tax rates on equity profits led to a $800 million …
Quick Look: US business activity hit a two-year high in July, with the composite PMI rising to 55 from 54.8 in June. Price increases slowed, with average prices rising at the slowest pace since January. Optimism about a potential Fed rate cut in September grew, bolstering investor confidence. The services sector grew by 56 PMI, …
US Economy Grows 2.5% as Inflation Slows in July Read More »
Quick Look: Tech stocks dropped significantly, with the S&P 500 down over 2%, the Dow Jones 1.2%, and the Nasdaq Composite 3.6%. Alphabet and Tesla’s mixed earnings led to a 12% drop in Tesla’s stock and a 5% fall for Alphabet, impacting investor confidence. The “Magnificent 7” tech stocks lost over $750 billion in market …
Tech Stocks Tumble After Alphabet and Tesla Earnings Miss Read More »
Quick Look: China aims to modernize industry, expand demand, stimulate growth, curb debt risks, and acknowledge inherent contradictions. The plenum outlined ambitions without detailing resolutions for conflicting goals like boosting consumer spending amidst producer-focused resource allocation. China faces weak domestic demand, deflation risks, property downturn, debt crisis, and higher tariffs, with slow growth in Q2. …
China’s Economic Goals: Tackling 2024’s Complexities Read More »
Quick Look: USD/INR Near Record High: The exchange rate nears an all-time high of 83.7190 due to USD strength. US Dollar Strength: Driven by risk aversion and rising US Treasury yields, tempered by weak labour data. RBI Intervention: Potential central bank actions to support the Rupee may prevent further depreciation. As the USD/INR exchange rate …
USD/INR Nears Record High of 83.7190 Amid Market Turbulence Read More »
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