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US Economy Contracts, Fueling Recession Fears

US Economy Contracts, Fueling Recession Fears

45
Economy news
29.07.2022

According to the Bureau of Economic Analysis, the US economy shrank for a second quarter in a row. GDP fell by 0.9% on an annualized basis from April through June.  By definition, two consecutive quarters of negative economic growth constitut...

The Fed Announces Second Massive Interest Rate Hike

The Fed Announces Second Massive Interest Rate Hike

49
Economy news
28.07.2022

A few months ago, a massive 75-basis-point rate hike by the US Federal Reserve was unthinkable. It has now happened twice in a row. This week, members of the US Fed unanimously agreed on an additional interest rate hike of three-quarters of a percent...

Euro Fragile as Fed Hike Looms

Euro Fragile as Fed Hike Looms

48
FOREX news
27.07.2022

The euro was still jittery in this week’s trading after its steepest plunge in two weeks, as a disruption in Russian gas supplies sent energy prices soaring. The euro fell about 1% to $1.0108 overnight, its biggest fall since early July. Eur...

Indian Rupee Falls to Record Lows

Indian Rupee Falls to Record Lows

44
FOREX news
26.07.2022

The Indian rupee has fallen more than 7% in 2022, adding to inflationary pressure and destroying margins for importers in this otherwise import-dependent country.  The rupee stands on the threshold of 80 to a US dollar and may soon fall furth...

China's Real Estate Market in Serious Trouble

China's Real Estate Market in Serious Trouble

46
Economy news
25.07.2022

China’s real estate market is in deep trouble, with property sales slumping by 25% this year alone. A confluence of factors, including China’s “Zero COVID Cases” policy, have seen property developers run out of capital to fini...

European Central Bank Finally Hikes Interest Rates

European Central Bank Finally Hikes Interest Rates

44
Economy news
22.07.2022

The European Central Bank (ECB) on Thursday announced it would hike its key interest rate by a half percentage point. This is the first time since 2011 that the ECB has raised rates, taking Europe's key rate back to zero. Interest rates in the...

Europe Unveils Emergency Gas Rationing Plan

Europe Unveils Emergency Gas Rationing Plan

50
Commodities news
21.07.2022

The EU has revealed plans to ration gas to member countries as the world watches to see if Russia cuts the flow of natural gas to the continent. The EU has asked its 27 member states to reduce their gas demand by 15% between August and March next...

Crypto Stirring Back to Life but Still Volatile

Crypto Stirring Back to Life but Still Volatile

49
Cryptocurrency news
20.07.2022

Cryptocurrencies have suffered a tough year, with all segments of the industry shedding significant value. Bitcoin, the world's biggest crypto, making up about 42% of the total market, lost more than half its value in 2022 and is now hovering aro...

Australia’s Central Bank Says Interest Rates Too Low

Australia’s Central Bank Says Interest Rates Too Low

52
FOREX news
19.07.2022

The Reserve Bank of Australia (RBA) has said that interest rates will need to be raised much higher to calm red-hot inflation, despite recent rate hikes. The central bank sees the prevailing benchmark rate of 1.35% as being “well below&rdquo...

Chile’s Peso Slumps as Central Bank Dallies

Chile’s Peso Slumps as Central Bank Dallies

55
FOREX news
18.07.2022

The Chilean peso suffered heavy losses last week, slumping to a record low as the country’s central bank delivered an underwhelming interest rate hike that disappointed the markets. The peso plummeted by almost 5% to an unprecedented 1,060.4...

Canada Announces Ultra-Aggressive 1 Percent Rate Hike

Canada Announces Ultra-Aggressive 1 Percent Rate Hike

48
FOREX news
15.07.2022

Bank of Canada Governor Tiff Macklem has announced a supersizing interest rate hike of a full percentage point. The move left Canadians shocked, especially given the country’s hot housing market and heavy debt loads. The Bank of Canada has a...

US Inflation Hits 40-Year High

US Inflation Hits 40-Year High

62
Economy news
14.07.2022

US Inflation powered to a new peak in June, with American consumer prices leaping by 9.1% year-over-year, according to new data. Inflation is at its highest level in four decades, and higher than the previous month’s reading in May, when pri...

US Dollar Rallies, But It’s Not All Good News

US Dollar Rallies, But It’s Not All Good News

53
FOREX news
13.07.2022

The US dollar is gaining strength at a rapid rate, achieving its strongest level against other major currencies in almost 20 years. The US dollar Index has jumped 4% in the past month and nearly 13% year-to-date, while other important currencies h...

US and Japan Agree to Address Currency Issues

US and Japan Agree to Address Currency Issues

47
FOREX news
12.07.2022

US Treasury Secretary Janet Yellen and Japanese Finance Minister Shunichi Suzuki pledged this week to further solidify bilateral ties and work together to tackle rising food and energy prices exacerbated by Russia's attack on Ukraine. The fina...

Euro and Dollar Reach Parity for First Time in 20 Years

Euro and Dollar Reach Parity for First Time in 20 Years

51
FOREX news
11.07.2022

For the first time in almost 20 years, the exchange rate between the euro and the US dollar is equal. This comes after the euro fell nearly 20% in value over the past year compared to the US dollar. In the last two decades, the euro has always tra...