The recent sell-off in Wall Street has led to a rally in safe-haven currencies such as the Japanese yen, while riskier currencies like the Australian dollar and sterling have suffered losses. The catalyst for this market movement was the release of soft U.S. manufacturing data, which has raised concerns about a potential hard landing for
Economy
Recent economic predictions suggest that Bank Negara Malaysia (BNM) will maintain its key interest rate throughout 2025. Despite robust growth and controlled inflation, all 30 economists surveyed in a recent Reuters poll unanimously agreed that the overnight policy rate will remain at 3.00% on September 5. Additionally, a median prediction from a smaller sample indicated
Recent projections indicate that New Zealand house prices are expected to rebound in the coming year, with a forecasted 6% increase. This turnaround is attributed to the interest rate cuts implemented by the Reserve Bank of New Zealand, aimed at stimulating the housing market. Despite a previous surge in prices during the COVID-19 pandemic, the
Japanese corporate spending on plant and equipment has risen significantly by 7.4% year-on-year in the second quarter, as reported by the Ministry of Finance. This data is a positive sign for the economy, indicating a potential domestic-led recovery in economic growth. With the upcoming release of revised gross domestic product (GDP) figures, the solid expenditure
Brazilians are set to experience an increase in their electricity bills for the month of September. This decision was made by the local power regulator Aneel in response to a decline in reservoir levels at hydroelectric plants. Despite the country’s efforts to incorporate wind and solar power into its energy mix, over half of Brazil’s
China’s manufacturing sector faced a setback in August as it slowed to a six-month low, according to an official factory survey. This decline, as indicated by the Purchasing Managers’ Index (PMI), has raised concerns about the country’s economic growth prospects. The official PMI fell to 49.1 in August from 49.4 in July, marking the fourth
Over the past few trading sessions, Wall Street stocks have shown a positive trend, with the Dow reaching a new all-time high. Companies like Tesla, Amazon, Broadcom, and Marvell have seen significant gains, reflecting investor optimism due to the latest economic data. The market seems to be reacting positively to the possibility of a rate
China’s recent decision to open an anti-subsidy probe into imported dairy products from the European Union has added fuel to the ongoing tensions between the two economic giants. This move comes on the heels of Brussels releasing a revised draft decision related to tariffs on China-made electric vehicles, further complicating trade relations between China and
The recent focus on the U.S. dollar against a basket of peers and the anticipation of a widely expected U.S. interest rate cut next month has created ripples in the foreign exchange market. Investors are closely watching for any hints regarding the size of the upcoming rate cut and its implications on various currencies. Market
Deutsche Bank economists recently stated that a rate cut by the Federal Reserve in September is highly likely, although the exact size of the reduction is still uncertain and dependent on data. They believe that the upcoming rate cut will be primarily influenced by labor market data. The bank’s current forecast is for a 25
The recent dovish shift in the monetary policy of the U.S. Federal Reserve is expected to have significant implications for the Bank of Japan’s efforts to manage a weak yen. This shift, as articulated by Fed Chair Jerome Powell at the annual symposium in Jackson Hole, Wyoming, signals a readiness to cut rates in response
The incident involving the faulty Starliner capsule from Boeing that led to two NASA astronauts being stranded on the International Space Station is nothing short of a major setback for both companies. After a series of glitches with Starliner’s propulsion system, NASA deemed it too risky for the astronauts to return home on the capsule