The Consumer Price Index (CPI) of the eurozone came in below expectations in August, after the revised data showed that inflation rose by a smaller 0.1 percent against the flash estimate of a 0.2-percent increase.
fffp12
The European Central Bank (ECB) responded to macroeconomic pressures and the eurozone economy’s weak outlook by cutting benchmark interest rates by 10 basis points. Concluding the monetary-policy meeting in Frankfurt last month, the governing council announced a reduction in interest rates on the deposit facility
Crude-oil prices extended gains midway through August, with analysts viewing this as a positive sign that prices could firm in the near future. The optimistic outlook comes against the backdrop of an expected surge in demand for gasoline amid the driving season in the United States
The seasonally adjusted unemployment rate in Japan edged lower to 2.3 percent in June from 2.4 percent a month earlier, ending slightly below market estimates of 2.4 percent. June’s unemployment rate was the lowest in the four-month period, with 60,000 unemployed personnel finding jobs, while the number of employed expanded by 70,000 to 67.01 million.
The Federal Open Market Committee (FOMC) of the US Federal Reserve System (the Fed) will be heading into its fifth monetary-policy meeting for the year on July 30, with markets keenly eyeing the outcome, in spite of the majority of market indicators already pricing in a rate cut.
Gold Rallies to Its Highest Level Since April 2018 as Investors Bet on the Safe-Haven Asset
Gold prices are advancing amid a slump in global equities and on the back of expectations that the US Federal Reserve (the Fed) will cut interest rates at least twice this year, beginning in July. The price of the precious metal rose to a more than 13-month high on Friday, June 7, after unexpectedly weak US jobs data raised hopes that it would provide the necessary trigger for the Fed to ease rates.
The ongoing US-China trade conflict took an ugly turn in May after the United States imposed sanctions on the world’s biggest supplier of telecom equipment and smartphones, China’s Huawei Technologies, cutting the company off from all of its trading partners in the US and barring US companies from supplying components without government approval.