Cryptocurrencies began to decline after stabilizing and posting some gains since the beginning of the week. This decline occurred during midday trading on Thursday, January 29th, coinciding with a continued wave of selling and a further drop in market capitalization. This comes amidst a decline in risk appetite in global markets, while the US Federal Reserve maintained its monetary policy...
The US Federal Reserve decided at its meeting, which concluded moments ago today, Wednesday, January 28, to keep interest rates unchanged at 3.75%, as expected at the first meeting of the year, following three previous rate cuts. Ten members voted to maintain the rate, while two members, Stephen Miran and Christopher Waller, voted to lower it by 25basis points. The...
The Bank of Canada kept its target overnight interest rate unchanged at 2.25%, as expected, for the second consecutive meeting after three consecutive rate cuts. It also maintained the key interest rate for banks at 2.50% and the deposit rate at 2.20%. The Bank's report stated that there were little change in the outlook for the global and Canadian economies...
Figures released this morning, Wednesday, January 28, during the Asian session by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose to 3.8% year-on-year in December, the highest level since April 2024. This compares to 3.4% in November and exceeded expectations of 3.5%. The index rose by 1% month-on-month. The most significant increase in the index in...
New orders for durable goods rose in November, according to a report released moments ago by the US Census Bureau. The increase rose by $16.4 billion, or 5.3%, to reach $323.8 billion, compared to a 2.1% decline in October. This figure exceeded market expectations of a 3.1% increase. Meanwhile, core orders, excluding transportation equipment, rose by 0.5% in November, compared...
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The IFO business climate index for Germany held steady in January at 87.6, unchanged from December and below market expectations of a rise to 88.3. The index, which surveys nearly 9,000 German companies, remains at its lowest level since May of last year, indicating a weak start to the new year for the German economy. Specifically, the current situation index...
Data released by Statistics Canada moments ago showed a 1.3% increase in retail sales in November, reaching $70.4 billion. This followed a revised 0.3% decline in October, exceeding expectations and driven by gains in food and beverage sales. Core retail sales, excluding gas stations and motor vehicle and parts sales, rose 1.7% in November after a 1.6% drop in October....
Data released at the start of the European session on Friday, January 23, showed mixed performance across most Eurozone services and manufacturing PMIs. However, the UK's January readings were better than expected. The Eurozone services PMI fell to a four-month low of 51.9 in January, compared to 52.4 in December (forecast 52.6). Conversely, the manufacturing PMI rose to a two-month...
At its meeting that concluded Friday morning, January 23, the Bank of Japan decided to maintain its monetary policy and interest rates unchanged. Members voted 8-1 to keep the interest rate at 0.75%, as expected, following a 25-basis-point increase in December to its highest level in three decades. Member Hajime Takata favored raising the rate to 1%, citing the risk...