Inflation gap are shortening, US Dollar expected to rose this years
The dollar index fell on Tuesday and the euro reached a four-month high as investors waited for signs of the Federal Reserve’s interest rate decrease. The US dollar is expected to have its worst performance versus a basket of currencies since 2020 as Fed rate cuts reduce its appeal. Analysts predict a significant decline in…
The dollar slip on year end, the Yen rose to its five month high
The dollar struggled to find a bottom in holiday-thinned trade on Tuesday, as the Federal Reserve cut interest rates next year due to dropping inflation in the world’s largest economy. The yen held near its five-month high, with the New Zealand dollar reaching a five-month high of $0.6325 against the greenback. The euro rose 0.03%…
Oil prices has stabilized due to growth demand
Geopolitical concerns in the Middle East and investor anticipation of the US Federal Reserve’s interest rate decrease have boosted global economic growth and gasoline demand, stabilizing oil prices. Brent crude futures increased by 0.1% to $79.17 a barrel, while West Texas Intermediate fell by 0.3% to $73.31. The Israel-Hamas crisis continues, and shipping corporations stopped…
Rosbank got Putin permission to buy shares on Societe Generale
Russian President Vladimir Putin has granted Rosbank permission to buy holdings in Societe Generale-owned significant Russian enterprises, including oil producers Rosneft and Gazprom, metals businesses Norilsk Nickel and Severstal, and other Russian blue chip corporations. The ruling allows Rosbank to trade Russian assets with companies from “unfriendly” countries, which need Moscow’s permission to trade Russian…
The Fed could cut rates faster if inflation falls
The annual rotation on the U.S. Federal Reserve’s interest-rate-setting committee makes its 2024 voting members somewhat more hawkish than the 2023 group. Many analysts argue that if inflation falls faster than projected, Fed policymakers will want to cut rates even more than the three-quarters-percentage point reflected in last week’s estimates. The personal consumption expenditures price…
Recession won’t be problems in 2024 for US economic
Economists believe a US recession won’t occur in 2024 due to weak consumer demand. Companies, investors, and others are still expecting a slowdown, with leading corporations being more cautious in planning for the year. Goldman Sachs, Morgan Stanley, UBS, and Barclays expect higher interest rates, oil prices, and a weaker China to limit global growth…
Honda recalling its unit due to fuel pump failure
Honda Motors is recalling 2.54 million US vehicles due to fuel pump failure, its first such recall. The recall covers the 2018–2020 Honda Accord, Civic, CR-V, HR-V, Insight, Ridgeline, Odyssey, Passport, and Acura ILX, MDX, RDX, RLX, TLX, and NSX. Honda claims higher density and clearance in replacement parts.
Credit ratings will have a downgrade due to many factors
2024 may be a significant year for sovereign credit ratings due to record debts, increasing borrowing rates, sputtering GDP, and multiple wars. The US and China are facing downgrade warnings, with the US potentially losing its triple-A rating. Fitch and S&P Global are also monitoring the November presidential election. Turkey may receive its first upgrade…