The Swiss National Bank (SNB) cut interest rates by 25 basis points to 0.0% at its meeting moments ago this morning, Thursday, June 19, as expected. This is the sixth consecutive cut, having begun in March of last year from 1.75%. The bank's interest rate statement stated that inflationary pressures have eased, with inflation declining since the last monetary policy...
Australia's unemployment rate stabilized at 4.1% in May, according to figures released by the Australian Bureau of Statistics (ABS) at the beginning of the Asian session today, Thursday, June 19. This was in line with expectations, while the labor force participation rate declined to 67.0% from 67.1% in April. The Australian economy lost approximately 2,500,000 jobs in May, bringing the...
The US Federal Reserve decided at its meeting, which concluded moments ago today, Wednesday, June 18, to keep interest rates unchanged at 4.5%, as expected, for the fourth consecutive meeting. The interest rate statement indicated increased uncertainty regarding the economic outlook. The bank's members lowered their forecasts for economic growth this year and raised their inflation forecasts. Members now see...
Yellow metal prices stabilized mid-day trading on Wednesday, June 18, amidst a stable US dollar and anticipation of the US Federal Reserve meeting this evening. Markets continue to monitor developments and tensions in the Middle East and the Israeli-Iranian conflict. Gold is trading down approximately 0.19% at $3,381 per ounce, while silver is trading at $37.12 per ounce, down 0.35%....
The Consumer Price Index (CPI), a measure of UK inflation, rose to 3.4% year-on-year in May, according to data released by the Office for National Statistics (ONS) this morning, Wednesday, June 18. This figure follows an 18-month high of 3.5% in April, matching market expectations. On a monthly basis, the CPI rose 0.2% in May, compared to a 0.3% increase...
Data released just moments ago from the US Census Bureau showed a decline in US retail sales in May, worse than market expectations. Sales fell to $715.4 billion, down 0.9% from a 0.1% gain in March, before being revised down to a -0.1% decline (expected -0.5%). They rose 3.3% year-over-year from 5.2% in April. Core sales, excluding autos, fell 0.3%...
The German ZEW Business Confidence Index continued to improve and rise in the June survey, rising by 22.3 points to 47.5, better than the expected 34.8. The June rise came despite a 10-point increase in the assessment of the current economic situation in Germany, the strongest increase since April 2023. In contrast, the eurozone index rose by 23.7 points to...
The Bank of Japan decided at its meeting that concluded this morning, Tuesday, June 17, to keep monetary policy and interest rates unchanged. Members voted unanimously to maintain interest rates at 0.50%, as expected, for the third consecutive meeting. They also decided to slow the pace of bond purchases starting in April of next year. The bank decided to reduce...
After gains exceeding 4% at the start of weekly trading in the Asian session today, Monday, June 16, crude oil prices recorded declines in the middle of the European session, erasing all of their daily gains as investors assessed the ongoing conflict and the attack between Iran and Israel, which has become the primary driver of oil markets. US crude...
Asian markets closed higher on Monday, June 16, the opening session of the week, ignoring geopolitical tensions in the Middle East. Expectations that no other parties will enter the ongoing conflict between Israel and Iran are rising, along with optimism that the conflict can be contained. Positive Chinese numbers supported Chinese indices, with expectations for the Bank of Japan's monetary...