As global poverty rates rise, a UN agency proposes a debt suspension option.
More than 20% of the world’s population, or 1.65 billion individuals, are surviving on less than $3.65 per day as a result of the COVID-19 pandemic. According to the UNDP, all 165 million impoverished individuals reside in low- or lower-middle-income countries. Rising interest rates have contributed to an increase in destitution, with impoverished nations spending…
Europe’s relief over US inflation sustains Asia’s optimism.
Asian equities rallied and yen carry trades were unwound as a result of Thursday’s Goldilocks combination of declining U.S. inflation and a robust employment market. MSCI’s broadest index of ex-Japan Asia-Pacific equities is projected to have its best week of 2023, while the yen is anticipated to appreciate against the dollar by the most since…
US-China trade is slipping. American consumers could be in disadvantaged.
Due to escalating tensions between Washington and Beijing, Chinese exports to the United States have reached their lowest level in 20 years. This may dissatisfy American clients, as the global trade environment no longer views low prices in isolation. This year, Mexico surpassed China as the United States’ largest trading partner, eclipsing $263 billion in…
Dow Jones Increases Due to Jobless Claims and Cooling PPI Inflation Data
The Dow Jones Industrial Average rose on Thursday as a result of limited producer price gains and an unexpected decline in initial jobless claims. Core inflation increased by 2.4%, less than the 2.8% predicted, while overall and core producer prices increased by 0.1% annually. Initial jobless claims decreased from 248,000 the previous week to 237,000.…
Russia’s current-account surplus drops 93%, destroying the country’s financial system.
Russia’s current account deficit decreased by 93% from a record $76.7 billion in April-June 2023 to the lowest level since the third quarter of 2020. Restricting energy exports, Western sanctions against the Kremlin for its involvement in the Ukraine conflict have impacted the country’s economy. In July, the ruble reached a 15-month low of approximately…
The cooling of US inflation boosts oil prices.
Due to U.S. inflation and economic statistics, oil prices climbed on Thursday. Brent crude prices rose 36 cents to $80.47 a barrel as Chinese trade data showed June oil imports were the second-highest ever. June was the lowest yearly consumer price increase in two years. Oil traders believe this will be the final interest rate…
The Dollar suffers losses as investors anticipate the US interest rate to crest.
The dollar experienced its worst trading session in five months, falling over 1% against the euro to its lowest level in over a year and incurring greater losses elsewhere. The euro reached a new 15-month high of $1.1141, while the yen increased 0.3% to 138.16 per dollar, its strongest since mid-May. The U.S. dollar index…
LATEST MARKETS-Asian stocks rise, and the dollar falls on wagers. Federal Reserve nearly finished climbing
The low U.S. inflation data has fueled speculation that the post-pandemic tightening cycle is nearing its conclusion. Asian markets and treasuries gained on Thursday, while the dollar fell. China trade statistics showed yuan-denominated exports climbed 3.7% in the first half of the year, while imports remained steady. Hong Kong’s Hang Seng index jumped 2.1%, Australia’s…