Economy News

The European Central Bank (ECB) is expected to lower its key interest rate by 25 basis points this Thursday, following a series of hikes that left the rate at 3.75%. This move comes just ahead of the U.S. Federal Reserve’s ...

Treasury Secretary Janet Yellen expressed confidence in the robustness of the U.S. economy, adding that recent signs of cooling job growth indicate a soft landing rather than an impending recession. She noted that while there is a slowdown in hiring ...

OPEC+ has announced an extension of its oil production cuts, continuing to reduce output by 2.2 million barrels per day through November. This move comes as crude prices remain under pressure despite previous attempts to stabilize the market. Starting in ...

The British pound is on track to be one of the best-performing currencies this year, with the GBP/USD pair reaching a two-and-a-half-year high of $1.32 in late August. Analysts anticipate this upward trend will continue through the end of 2024, ...

Germany's harmonized consumer price index (CPI) fell unexpectedly to 2% in August, a notable decrease from July's 2.6% and lower than the 2.3% predicted by analysts. The data indicates a slowing inflation rate, with the CPI dipping by 0.2% monthly. ...

The yield on the U.S. 10-year Treasury fell to 3.788% on Monday, continuing its recent downward trend as markets digest Federal Reserve Chair Jerome Powell's comments that signaled potential rate cuts. The 10-year yield slipped by approximately 2 basis points, ...

U.S. crude oil prices held steady above $72 per barrel on Thursday, reflecting a modest 0.91% yearly increase. This comes after a period of volatility driven by weakening demand in China and renewed concerns about the U.S. economy. In contrast, ...

Eurozone inflation increased to 2.6% year-on-year in July, slightly up from 2.5% in June. This rise beat initial economist estimates of 2.4% and reinforced concerns about persistent inflationary pressures within the bloc. Core inflation, which excludes volatile items such as energy ...

The European Union has revised its planned tariffs on Chinese electric vehicles (EVs), reducing the import duties on Tesla vehicles manufactured in China to 9%, down from an originally proposed 20.8%. This decision follows Tesla's request to adjust the tariffs ...

Gold prices have reached historic highs, driven by expectations of lower interest rates and growing demand for safe-haven assets. In contrast, base metals like copper have faltered due to sluggish economic growth, particularly in China. Last Friday, gold spot prices soared ...

Germany's economic sentiment sharply declined in August, as the respected ZEW Economic Sentiment Index dropped from 41.8 points in July to 19.2 points. This 22.6-point plunge reflects growing pessimism about the country’s economic outlook, which extends across the eurozone. The broader ...

Japan's economy saw a robust recovery in the second quarter, expanding at an annualized rate of 3.1%, far surpassing the anticipated 2.1% growth. This rebound followed a revised 2.3% contraction in the first quarter, driven by a strong rise in ...

The British pound retreated after weaker-than-expected July inflation data signaled the potential for further interest rate cuts by the Bank of England. The pound fell by 0.22% against the US dollar and 0.18% against the euro. The data showed a ...

U.S. Treasury yields rose on Monday as investors focused on upcoming inflation data and other critical economic reports scheduled for the week. By Monday morning, the yield on the 10-year Treasury increased by more than 1 basis point to 3.953%, ...

The Bank of England (BOE) has cut interest rates for the first time since the pandemic, reducing the benchmark from 5.25% to 5%. This move, marking a significant shift after the longest series of rate hikes in a century, comes ...