President US and China’s will meet at APEC
The White House has announced that President Joe Biden will meet Chinese President Xi Jinping face-to-face for the first time in a year at the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco. The meeting will cover global topics such as the Israel-Hamas war, Russia’s invasion of Ukraine, North Korea’s connections with Russia, Taiwan, the…
US economic are not in favorable condition
Americans are less optimistic about the economy, with the University of Michigan consumer mood index falling below experts’ expectations. Long-term inflation forecasts have risen to a level not seen since 2011, with consumers expecting five-year inflation of 3.2%, up from 3% last month. Gas price expectations reached a year-high, and the Federal Reserve’s inflation expectations…
China’s oil imports have reached new highs
China’s oil imports from Iran have reached historic highs, as Iran increases output despite U.S. sanctions. Iran’s October output rose to 3.17 million barrels per day, the most since sanctions were imposed in 2018. China, Iran’s largest customer and world’s largest crude importer, acquired 1.05 million barrels per day of Iranian oil in the first…
The Fed statement caused a significant market reaction
Fed chair Jerome Powell’s hawkish statement on Thursday, which resisted early US interest rate cuts, caused a significant market reaction and prevented the S&P500 from achieving an eighth consecutive daily gain. Powell’s statement indicated that the central bank was not certain if its policy stance was restrictive enough to return inflation to 2%. The Treasury…
Will The Fed hold another rate hikes on December ?
Stocks surged and U.S. government bonds rose from 16-year lows due to falling Treasury yields. This paradox highlights the relationship between rates and financial conditions, which indicate an economy’s funding availability. As yields fall, investors worry that financial conditions could become too slack for the Federal Reserve, forcing it to keep rates higher longer to…
China’s CPI fell due to property crisis and local debt issues
China’s consumer prices fell in October due to weak domestic demand indicators and increased factory-gate deflation, raising uncertainty on a broad economic recovery. The consumer price index (CPI) fell 0.2% from a year earlier and 0.1% from September, with pork prices down 30.1%. Core inflation fell to 0.6% in October, indicating China’s ongoing fight against…
Apple faced tax issue on Europe’s
An adviser to Europe’s top court has argued that an EU tribunal made legal errors when it ruled in favor of Apple over a 13-billion-euro ($14 billion) tax ruling. The case was part of EU antitrust chief Margrethe Vestager’s campaign on multinational-EU transactions considered improper state aid. In 2016, the European Commission stated Apple profited…
US president and China’s president set to meet in san Francisco
US President Joe Biden and Chinese President Xi Jinping are set to meet in San Francisco for the second time in three years to address tensions, following a six-month US push to engage its geopolitical rival. The summit, which is part of the APEC group, is expected to focus on improving relations with China, such…