The Bank of Canada kept its interest rate at 2.75%, as expected, for the third consecutive meeting at its recently concluded meeting. The bank noted that although US trade policy has begun to crystallize more clearly in recent weeks, US trade actions remain unpredictable and threats of new sectoral tariffs persist. The statement added that US tariffs are disrupting Canadian...
According to a report released a short while ago by the Bureau of Economic Analysis, US gross domestic product (GDP) rose to 3.0% in the second quarter of this year, ending in June, compared to a 0.5% decline in the first quarter of last year. This exceeded expectations of 2.5% growth. The US dollar index rose 0.60%, trading at 99.27,...
The US private sector added only about 104,000 jobs in July, according to figures released just moments ago by ADP, after losing about 33,000 jobs in June's revised reading, which was downwardly revised to 23,000, compared to expectations of 77,000. In detail, the manufacturing sector added about 7,000 jobs, the construction sector added about 15,000 jobs, the trade, transportation, and...
Figures released this morning, Wednesday, July 30, during the Asian session, by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose by 1.9% in June year-on-year, compared to 2.1% in May, while expectations were for a steady 2.1%. Conversely, inflation rose to 2.1% in the second quarter of this year, its lowest rate since March 2021, compared...
Gold traded slightly higher in mid-European trading on Tuesday, July 29, after four consecutive sessions of declines. It traded at its lowest levels since July 9, with risk appetite increasing in the markets following the US-EU trade agreement amid market anticipation of the US Federal Reserve meeting and US employment figures. The yellow metal is trading up about 0.32% at...
After rising more than 2% in crude oil's opening session on Monday, crude oil prices stabilized at the start of European trading today, Tuesday, July 29, amid anticipation of preliminary inventory figures from the American Petroleum Institute this evening. Nymex crude oil fell by about 0.01%, trading at $66.70 a barrel, while Brent crude traded at $69.99 a barrel, down...
The US Dollar Index (USD Index) recorded gains in mid-trading on Monday, July 28, the opening session of the week, benefiting from increased risk appetite in markets following the US-EU trade agreement amid anticipation of the Federal Reserve meeting and US employment figures. The Dollar Index rose by about 0.60%, trading at 97.93, while the euro declined by more than...
Asian markets closed mixed at the end of trading on Monday, July 28, the opening session of the week. Japanese markets closed lower, coinciding with the absence of economic indicators in the opening session and anticipation of the Bank of Japan's meeting on Thursday. Chinese indices rose at the end of the session, as markets await the trade meeting between...
New orders for durable goods fell $32.1 billion, or 9.3%, in June, according to a report released by the U.S. Census Bureau just released. This decline was better than market expectations of a 10.4% decline. Core orders, excluding transportation orders, rose 0.2% in June, compared to a 0.6% increase in May (expectations of 0.1%). In detail, new orders excluding defense...
Asian markets closed lower on Friday, July 25, the final trading session of the week. Japanese indices retreated after gains of more than 4% during the week following the Washington-Tokyo trade agreement. In economic data released this morning, figures from Japan showed that core inflation in Tokyo, which excludes volatile fresh food prices, slowed to 2.9% in July, following a...