Brief Overview of Key Economic Events from the Past Week
Last week saw significant economic developments across major regions. In the U.S., some Fed officials favored a smaller rate cut, with inflation metrics like CPI (2.4%) and PPI (1.8%) coming in slightly above expectations, while consumer sentiment dipped and jobless claims rose. The Eurozone reported modest retail sales growth (0.2%), and the UK saw GDP […]
The Downward Trend of the New Zealand Dollar: Causes and Effects
The Reserve Bank of New Zealand lowered interest rates yesterday by 50 basis points, from 5.25% to 4.75%, aligning with market expectations. This reduction marks the second consecutive cut this year, following an initial decrease of 25 basis points. The downward trend of the New Zealand dollar against the US dollar seems to be prevailing […]
Decline in Turkish Economic Performance Amid U.S. Dollar Surge Against the Turkish Lira
Recent Turkish economic data shows that the Turkish economy is weakening, as: The manufacturing Purchasing Managers’ Index (PMI) for September fell to 44.30, indicating contraction, and was lower than the previous reading of 47.80, marking the lowest level since May 2020. The treasury cash balance for September recorded a deficit of 200.965 billion Turkish lira, […]
The Dollar’s Upward Trend Against the Swiss Franc Amid Economic Indicators
The Swiss National Bank cut interest rates by 25 basis points in its meeting held on Thursday, September 26, 2024, from 1.25% to 1.00%, marking the third consecutive cut this year. The price of the US dollar against the Swiss franc continues its upward trend, reaching 0.8607 on Friday, October 4, 2024, the highest level […]
Brief Overview of Key Economic Events from Last Week
In the United States, the Purchasing Managers’ Index (PMI) for manufacturing fell to 47.3 points, while the Non-Farm Payroll report added 254,000 jobs and the unemployment rate dropped to 4.1%, with an increase in average wages of 4.0%. In the Eurozone, the Consumer Price Index (CPI) recorded a growth of 1.8%, with a steady unemployment […]
Oil on the Rise: How Do Middle Eastern Tensions Affect the Market?
Crude oil prices continue to rise, reaching $77.95 yesterday, the highest level since August 30, 2024. Currently, oil prices hover around $77.50, but they remain down about 1% since the beginning of this year amid prevailing uncertainties in the oil market, which is influenced by several varying factors. The positive factors affecting oil prices include: […]
S&P 500: Ongoing Declines and Increases Amid Global Tensions
The S&P 500 index closed at 5,709 points yesterday, remaining up about 20% since the beginning of the year through yesterday’s close. This index is experiencing pressures and fluctuations due to several factors, the most notable of which are: The escalation of geopolitical tensions in the Middle East at this time, with fears that the […]
Chinese Stimulus Measures Drive Yuan and Stocks Higher: USD/CNH Under Pressure
The USD/CNY exchange rate recorded 6.9700 last week, its lowest level since May 16, 2023, and is currently trading near the 7.0000 levels. As for Chinese stocks, the CSI300 index rose significantly, closing at approximately 4,018 points two days ago, marking its highest level since August 4, 2023, and up by about 17% since the […]
USD/JPY: Negative Momentum Dominates Amid Market Uncertainty
The USD/JPY exchange rate recorded 139.57 on September 16, 2024, its lowest level since July 28, 2023, and is currently trading near the 144.00 levels. It appears that negative momentum will dominate in the coming period, driven by several fundamental and technical factors. Fundamental Factors: The headline Consumer Price Index (CPI) rose by 3.0% year-on-year […]
Brief Overview of Key Economic Events from the Past Week
In the United States, the Manufacturing PMI fell to 47.0 while the Services PMI rose to 55.4, indicating a divergence in sector performance. Consumer Confidence decreased to 98.7, although new home sales increased to 716K, and oil inventories saw a significant drop of 4.471 million barrels, with unemployment claims falling to 218K. Durable Goods Orders […]
