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Tag: Economy


News

Resilient US consumers spend slightly more in August

September 30, 2022

Via: ABC News

Consumers spent a bit more in August than the previous month, a sign the economy is holding up even as inflation lifts prices for food, rent, and other essentials. Americans boosted their spending at stores and for services such as […]


News

US economy drops at 0.6% annual rate from April through June

September 29, 2022

Via: ABC News

Battered by surging consumer prices and rising interest rates, the U.S. economy shrank at a 0.6% annual rate from April through June, the government announced Thursday, unchanged from its previous second-quarter estimate. It marked the second consecutive quarter of economic […]


News

Canadian economy surprises with 0.1% growth in July, August seen flat

September 29, 2022

Via: Investing.com

Canadian economic activity edged up a surprise 0.1% in July, driven by strong oil sand production, while gross domestic product was most likely flat in August, Statistics Canada data showed on Thursday. Analysts polled by Reuters had forecast GDP would […]


Financial Services, Industries

UK central bank intervenes in market to halt economic crisis

September 28, 2022

Via: ABC News

The Bank of England took emergency action Wednesday to stabilize U.K. financial markets and head off a crisis in the broader economy after the government spooked investors with a program of unfunded tax cuts, sending the pound tumbling and the […]


Energy, Industries

Germany secures natural gas deal with the UAE as Berlin rushes to replace Russian supply before winter

September 26, 2022

Via: Markets Insider

Germany signed a natural gas deal with the United Arab Emirates on Sunday, as the European country scrambles to find alternatives to cut-off Russian energy imports before winter kicks in. Under the deal, German utility giant RWE will get liquefied […]


Energy, Industries

Lights out, ovens off: Europe preps for winter energy crisis

September 26, 2022

Via: ABC News

As Europe heads into winter in the throes of an energy crisis, offices are getting chillier. Statues and historic buildings are going dark. Bakers who can’t afford to heat their ovens are talking about giving up, while fruit and vegetable […]


News

UK slashes personal, corporate taxes in bid to spur growth

September 23, 2022

Via: ABC News

Britain’s new government on Friday announced a sweeping plan of tax cuts it said would be funded by borrowing and revenues generated by anticipated growth, as part of contentious moves to combat the cost-of-living crisis and bolster a faltering economy. […]


Finance Tech, Liquidity

Gold Price Outlook – Struggling to Make Any Headway, Further Downside Beckons

September 23, 2022

Via: DailyFX

Gold has been stuck in a rut for the last week with any attempted break higher met with more forceful opposition. Gold is battling higher US Treasury yields, especially in the interest-rate sensitive short-end, that continue to dull the allure […]


News

Hong Kong Inflation Remains Stable As Expected

September 22, 2022

Via: Markets Insider

Hong Kong’s consumer price inflation held steady in August, after accelerating in the previous two months, data released by the Census and Statistics Department showed on Thursday. Consumer prices rose at a stable rate of 1.9 percent year-over-year in August. […]


Finance Tech, Liquidity

NZD/USD Trades at Critical Support as APAC Traders Prepare for Bank of Japan

September 22, 2022

Via: DailyFX

Thursday’s Asia-Pacific Outlook The US Dollar surged higher against its major peers during New York trading hours. The Federal Open Market Committee (FOMC) announced a 75-basis point rate hike and updated its growth and inflation forecasts. The FOMC’s Summary of […]


Industries, Manufacturing

UK Manufacturers Expect Sharp Fall In Output In Months Ahead: CBI

September 21, 2022

Via: Markets Insider

UK manufacturers reported a marginal fall in production in the three months to September but they expect a much sharper decline over the coming three months, monthly Industrial Trends Survey from the Confederation of British Industry and Accenture showed Wednesday. […]


Energy, Industries

All UK businesses secure energy support package ‘costing tens of millions’ to slash bills

September 21, 2022

Via: Sky News

Firms across the UK will see government-funded cuts to their energy bills in line with the reductions that have already been announced for homes. The level of discount will depend on what companies are already paying but respected market expert […]


Finance Tech, Liquidity

Silver Price Forecast: Clinging to Downtrend Ahead of FOMC – Levels for XAG/USD

September 20, 2022

Via: DailyFX

WAITING ON POWELL Like most other assets this week, silver prices have seen subdued price action in the run-up to the September Fed meeting. Questions remain over whether or not Fed Chair Jerome Powell and the FOMC will deliver a […]


Finance Tech, Trading

Asia shares rise on US rally ahead of expected Fed rate hike

September 20, 2022

Via: ABC News

Asian shares mostly rose Tuesday, after Wall Street closed higher on a late buying spree following recent losses as investors await another interest rate increase by the U.S. Federal Reserve. Markets have been jittery over whether the Fed’s plan to […]


Finance Tech, Liquidity

Euro Price Forecast: Shocking German PPI Data Unable to Deter EUR Upside

September 20, 2022

Via: DailyFX

EURO FUNDAMENTAL BACKDROP The euro has managed to pull itself above parity once more against the greenback despite quite shocking German PPI data for August (see economic calendar below). EUR/USD ECONOMIC CALENDAR Looking at the PPI comparison with and excluding […]


Energy, Industries

Energy Price Guarantee: Liz Truss’s gigantic state handout

September 20, 2022

Via: MoneyWeek

Last Thursday the new prime minister Liz Truss, who had previously dismissed “handouts” as a way of tackling the cost of living crisis, announced a taxpayer-funded “Energy Price Guarantee” that amounts to a two-year direct grant to all households, regardless […]


Finance Tech, Trading

Asian shares slip lower following broad decline on Wall St

September 19, 2022

Via: ABC News

Asian shares fell Monday after another week of sizable losses on Wall Street, as investors braced for another interest rate hike by the U.S. Federal Reserve. Japan’s markets were closed for a holiday. Oil prices rose while U.S. futures declined. […]


Finance Tech, Liquidity

Gold Price Softens Ahead of a Busy Week with Fed, BoE, SNB and BoJ Meetings

September 19, 2022

Via: DailyFX

Gold slipped again today as the US Dollar found some traction with Treasury yields maintaining lofty levels going into a busy week for central banks. The non-yielding precious metal is below us$ 1,670 at the time of going to print. […]


Financial Services, Industries

How Central Banks Impact the Forex Market

September 19, 2022

Via: DailyFX

THE ROLE OF CENTRAL BANKS IN THE FOREX MARKET Central banks are mainly responsible for maintaining inflation in the interest of sustainable economic growth while contributing to the overall stability of the financial system. When central banks deem it necessary […]


News

Sri Lanka’s economy shrinks 8.4% amid fertiliser, fuel shortages

September 15, 2022

Via: Investing.com

Sri Lanka’s economy shrank 8.4% in the quarter through June from a year ago in one of the steepest declines seen in a three-month period, amid fertiliser and fuel shortages during the nation’s most severe financial crisis in more than […]