BoE reiterates confidence in preparations for the Brexit

Fundamental outlook THE Bank of England (BoE) reiterated its confidence its preparations against the impact of the Brexit. US building permit and existing home sales recorded a decline. China maintained that its GDP growth is still on track. US building permit rose 1.24 million in September, lower than the revised 1.24 million gains recorded in […]

Australian jobless rate drops to lowest in over six years


SYDNEY: Australia’s jobless rate fell to the lowest in more than six years in September as fewer people sought work, suggesting the drop is unlikely to alter the Reserve Bank’s (RBA) policy outlook. While unemployment fell from 5.3% to 5% – the level estimated by the central bank to signal full employment – the workforce participation rate declined to the lowest in almost a year. The data was released by the Australian Bureau of Statistics in Sydney. “From a Reserve Bank perspective, this is a mixed job report,” said economistRead More

US weekly jobless claims drop; continuing claims lowest since 1973

WASHINGTON, Oct 18 — New applications for US unemployment benefits dropped last week and the number of Americans on jobless rolls fell back to levels last seen in 1973, suggesting a further tightening in labour market conditions. A strong labour…

Futures slip after Fed minutes signal more rate hikes

NEW YORK, Oct 18 — US stock futures fell on Thursday after the Federal Reserve’s minutes showed policy makers broadly agreed on the need to raise interest rates further, fanning concerns that triggered a brutal selloff last week. The Fed’s…

Despite Trump criticism, Fed sees need for more rate hikes

WASHINGTON, Oct 18 — Federal Reserve policymakers are largely united on the need to raise borrowing costs further, minutes from their most recent policy meeting show, despite US President Donald Trump's view that interest rate hikes have already…

Dow Jones benchmark falls after IMF’s forecast comments

Fundamental outlook THE Dow Jones Industrial Average fell from 26,400 to 25,000 last week, following official forecast comments published by the International Monetary Fund (IMF). Trade surplus persisted in China, weighed down by the tough trade war with US. Britain’s GDP slowed down as negotiations on the Brexit continues to remain in a stalemate. US […]

US payroll slumps despite low jobless rate

Fundamental outlook US jobs openings fell despite the 49-year record low unemployment rate. US President Donald Trump’s administration reached a trade deal with Canada and Mexico and rebranded the agreement as USMCA. UK saw a slowdown in its economic growth from previously exceeding most forecast. This was probably due to challenges presented by the Brexit […]

US job growth cools, unemployment rate drops to 3.7pc

WASHINGTON, Oct 6 ― US job growth slowed sharply in September likely as Hurricane Florence depressed restaurant and retail payrolls, but the unemployment rate fell to near a 49-year low of 3.7 per cent, pointing to a further tightening in labour…

Italy to cut deficit from 2020, provides relief to markets

ROME, Oct 4 — Italy will cut its budget deficit targets from 2020 and reduce its debt over the next three years, Prime Minister Giuseppe Conte said yesterday, easing fears about fiscal policy in the euro zone’s third-biggest economy. The ruling…

Japan business confidence down for third straight quarter, reports BoJ

TOKYO, — Confidence among Japan's biggest manufacturers has slipped for the third straight quarter, a key central bank survey showed today, reflecting concern about trade wars and a string of natural disasters. The Bank of Japan's Tankan report…