The recent decision by the European Union to impose tariffs on Chinese electric vehicles has sparked a wave of opposition from China and other key players in the automotive industry. Beijing has expressed hope that the EU will reconsider its decision and avoid further escalation in what they consider to be the wrong direction. The
Economy
The recent softer-than-expected U.S. inflation data has had a significant impact on the foreign exchange market, particularly in Asia. While most Asian currencies were firm against a weakening dollar, the yen struggled ahead of a Bank of Japan meeting, and U.S. policymakers signaled that rates would remain high for the foreseeable future. Following the U.S.
The dollar stabilized after reaching a four-week high against other major currencies as traders eagerly awaited key U.S. inflation data and the Federal Reserve’s updated interest rate projections. The U.S. dollar’s recent rebound can be attributed to Friday’s strong jobs report, which suggests sustained inflation alongside robust economic growth. Consequently, the likelihood of the Federal
Poland is facing significant challenges in its fiscal policy, as highlighted by a senior International Monetary Fund official. The European Commission has projected that Poland’s budget deficit will rise to 5.4% of gross domestic product this year, which is among the highest in the European Union. This is primarily due to the government’s increased expenditure
The global markets are currently on edge as Asian markets cautiously assess the impact of the recent success of right-wing parties in the European Union on the cohesion of the bloc. While EUROSTOXX 50 futures have shown a slight uptick of 0.2%, FTSE futures remain stagnant. The euro is holding steady at $1.0766, slightly above
The largest official sector buyer of gold, China, is expected to resume its bullion shopping once prices ease from the record highs experienced in May. This information was revealed at a recent conference where industry players discussed the fundamental case for the metal moving forward. Despite a pause in their gold reserves in May, the
Pakistan’s coalition government is gearing up to announce ambitious fiscal targets in the upcoming 2024/2025 budget. The budget, set for July-June, is crucial in strengthening Pakistan’s case for securing a new bailout deal with the International Monetary Fund (IMF). As the economy faces challenges, officials and analysts anticipate significant measures to bridge the revenue-expenditure gap
Recent data from the Recruitment and Employment Confederation in the UK revealed that the fall in permanent hiring by employers in Britain was the least severe in over a year in May. This is a promising sign that the recruitment market might be on the brink of a recovery. The report indicated that permanent hiring
The recent shock election called by French President Emmanuel Macron has sent ripples through the euro and European markets. The euro has skidded, falling 0.3% to a one-month low of $1.0764, while also slumping to a 21-month low against the pound. EuroSTOXX 50 equity futures have dipped by 0.4% and French bond futures have also
The Group of Seven (G7) wealthy democracies are gearing up to send a firm message to small Chinese banks about their involvement in assisting Russia in evading Western sanctions. Leaders from the G7 countries are expected to have intense conversations during their upcoming summit in Italy about the growing trade relationship between China and Russia
In the wake of Chanel’s top designer’s departure, the $1.62 trillion luxury goods industry is experiencing significant upheaval. This departure has sent ripples not only through Chanel but across all major global players at a time when the industry as a whole is at a crossroads. Traditionally, the playbook for top fashion labels like Chanel,
Israeli Finance Minister Bezalel Smotrich has called for talks to begin next week in order to draft the 2025 state budget. These discussions are expected to be intense, with the goal of transitioning the economy from the strains of war to a focus on growth. Smotrich emphasized the need for “marathon discussions” to take place
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