Economy News

The Federal Reserve made a significant move this week, reducing its benchmark interest rate by 50 basis points to a new range of 4.75%-5%. This half-point cut, the first since 2020, aims to lower borrowing costs on mortgages and credit ...

Gold prices are approaching record highs, supported by a weakened US dollar, global economic uncertainty, and escalating geopolitical tensions. Gold futures recently surpassed $2,600 per ounce for the first time and held steady, while spot gold touched $2,589 before settling at ...

Germany's economic sentiment took a steep downturn in September, with the ZEW Economic Sentiment Index falling from 19.2 points in August to just 3.6 points, the lowest since October 2023 and far below the forecast of 17 points. This decline highlights ...

This week marks a pivotal moment for central banks worldwide, with several poised to announce interest rate changes. The U.S. Federal Reserve’s two-day meeting, starting Tuesday, is at the forefront, with widespread expectations of a rate cut. While most traders anticipate ...

Europe’s stock markets saw a positive shift this week, driven by central banks’ rate cuts and promising economic data. The European Central Bank (ECB) delivered its second rate reduction of the year, spurring a market rally across Europe. The Euro ...

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 ...