The US economy grew at a 3.1% annual rate from July to September (Q3). This is an update to earlier estimates. Growth was supported by strong consumer spending. Higher exports also contributed to the growth.
El Salvador has made changes to its Bitcoin policies. These changes are part of a $1.4 billion agreement with the International Monetary Fund (IMF). The country previously adopted Bitcoin as legal tender in September 2021. The IMF's involvement has influenced El Salvador's cryptocurrency strategies.
ITALIAN BUSINESS AND CONSUMER CONFIDENCE DATA RELEASED Manufacturing Confidence: Italy's manufacturing business confidence came in at 85.8, below the forecast of 86 and the previous reading of 86.5. Consumer Confidence: Italian consumer confidence stood at 96.3, lower than the forecast of 97 and slightly down
EUR/USD PRICE FORECAST: SELLERS EYEING LOWER LOWS EUR/USD is trading around 1.0377, with a retreat from an intraday peak of 1.0421. Stronger-than-expected U.S. economic data fueled demand for the U.S. Dollar, including a revised 3.1% Q3 GDP growth and better-than-expected jobless claims. The
Core PCE Price Index (YoY) (Year-over-Year, November) Time: 16:30 Previous: 2.8% Forecast: 2.9% Core PCE Price Index (MoM) (Month-over-Month, November) Time: 16:30 Previous: 0.3% Forecast: 0.2% Michigan 1-Year Inflation Expectations (December) Time: 18:00 Previous: 2.6% Forecast: 2.9% Michigan 5-Year Inflation Expectations
GOLD PRICE HOLDS STEADY AROUND $2,600, UPSIDE LIMITED Gold (XAU/USD) remains around $2,600, supported by haven flows amid concerns of a U.S. government shutdown. Geopolitical risks and trade war fears lead to a modest pullback in U.S. Treasury bond yields, boosting gold demand. The Federal
US NATURAL GAS INVENTORIES FALL LESS THAN EXPECTED U.S. natural gas inventories dropped by 125 billion cubic meters (bcm) during the week ending December 13. The decline was slightly smaller than the anticipated 126 bcm drop. The previous week saw a larger 190 bcm drop in inventories.
US EXISTING HOME SALES BEAT EXPECTATIONS IN NOVEMBER November existing home sales in the U.S. showed better-than-expected results, according to the National Association of Realtors. The data indicated a stronger housing market than anticipated for November. The figures were released on Thursday, providing an optimistic outlook for the housing
BANK OF ENGLAND HOLDS INTEREST RATES AT 4.75% AFTER INFLATION UPTICK The Bank of England kept interest rates at 4.75% during its final meeting of the year. This decision came after U.K. inflation rose to an eight-month high. Market Economists widely anticipated the rate hold due to
KOMATSU CONCERNED ABOUT TRUMP'S TARIFFS AND TRADE POLICIES Komatsu fears retaliatory tariffs from Canada on U.S.-made mining machines, impacting its exports, especially since Canada is its largest market for these products. Potential tariffs on imports from Canada, China, and Mexico could lead to retaliatory barriers, threatening
Gold prices fell by 1%, reaching a near two-week low. The U.S. Federal Reserve reduced interest rates as expected. The Fed signaled it would slow down further rate cuts in 2025. This decision strengthened the U.S. dollar and Treasury yields, impacting gold prices
UK RATE FUTURES SIGNAL AROUND 55 BASIS POINTS OF BOE RATE CUTS BY END OF 2025 UK rate futures suggest approximately 55 basis points (bps) of rate cuts by the end of 2025. Before the Bank of England's (BoE) recent policy announcement, the expectation was for around 45