The Australian economy recorded GDP growth in the second quarter ending in June, according to Australian Bureau of Statistics (ABS) estimates released this morning, Wednesday, September 3. This growth rate was the fastest since September 2023, at 0.6%, compared to 0.3% growth in the first quarter of this year. This was better than market expectations of a 0.5% increase. The...
Crude oil prices rose for the second consecutive session in mid-European trading on Tuesday, September 2, benefiting from rising supply concerns after Ukrainian attacks on Russian oil facilities, which could cause the loss of more than 1.1 million barrels per day, or 17% of Russia's oil capacity, according to a Reuters report. Ahead of Wednesday's inventory figures from the American...
Eurostat, the statistical office of the European Union, recently reported that annual inflation in the eurozone rose to 2.1% in August, according to the preliminary reading. This is below the July reading of 2%, as expected. The largest contribution to inflation in August came from the food, alcohol, and tobacco sector, which rose at an annual rate of 3.2%, up...
Asian markets closed mixed at the end of trading on Tuesday, September 2nd. Japanese markets rose after days of decline, while Chinese markets declined amid a lack of economic indicators. Investors focused on the meeting of leaders of the Shanghai Cooperation Organization in Tianjin and the assessment of the US court's ruling on Friday that the tariffs imposed by US...
Gold is trading higher for the fifth consecutive session in mid-European trading today, Monday, September 1, the opening session of the week, trading at its highest level in four months, approaching the record set in April at $3,499 per ounce. Futures prices surpassed the previous record, setting a new high this morning at $3,552 per ounce, benefiting from expectations of...
Data released just moments ago from the U.S. Bureau of Economic Analysis showed that U.S. personal income rose 0.4% to $112.34 billion in July, compared to a 0.3% increase in June. The Personal Consumption Expenditures (PCE) Index, the Federal Reserve's preferred inflation measure, rose 0.5% to $108.9 billion, compared to a 0.3% increase in June. The PCE rose 2.6% year-over-year,...
For the third consecutive session, gold traded higher in mid-European trading today, Thursday, August 28, settling at $3,400, the highest level for the yellow metal in three weeks. Gold benefited from the decline in the US dollar, which has been hurt by expectations of a US interest rate cut, and from increased demand for safe havens amid threats to the...
The three major US stock indices were stable at the opening of trading today, Wednesday, August 27, with some variance after a positive close on Tuesday. Economic indicators were absent, as markets awaited results from artificial intelligence and chip giant Nvidia at the end of the day's session. The S&P 500 index traded mixed, with the technology sector losing 0.08%,...
Crude oil prices fell for the second consecutive session in mid-European trading today, Wednesday, August 27, as markets monitor developments related to the Russian-Ukrainian war and the assessment of tariffs imposed on India, the world's third-largest crude consumer, amid anticipation of today's official inventory report. Nymex crude fell by about 0.30%, trading at $63.06 a barrel, while Brent crude traded...
Figures released this morning, Wednesday, August 27, during the Asian session, by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose by 2.8% in July year-on-year, compared to 1.9% in June, while expectations were for a 2.3% increase. Conversely, core inflation, which excludes volatile items such as motor fuel, fruits and vegetables, and travel, rose by 3.2%...