Number Of ‘Problem Banks’ Climbs In 1st Quarter, New FDIC Report Finds
Number Of ‘Problem Banks’ Climbs In 1st Quarter, New FDIC Report Finds Authored by Andrew Moran via The Epoch Times, It has been more than a year since the regional banking crisis exposed vulnerabilities in the financial system. A new Federal Deposit Insurance Corporation (FDIC) report discovered that the banking sector is still grappling with […]
Oil Prices Recover Slightly Amid OPEC+ Supply Concerns
Oil prices showed a slight rebound on Wednesday but remained near a four-month low as the decision by OPEC+ to increase production later this year continued to influence market sentiment. Both U.S. crude oil and global benchmark Brent witnessed a decline of over 4% this week following the announcement that eight OPEC+ members would gradually […]
Gold Inches Upward as Market Awaits Fed Signals
Gold prices saw a slight uptick on Wednesday, supported by a weaker U.S. dollar and Treasury yields, as traders awaited additional economic data to gauge the Federal Reserve’s stance on monetary policy. Spot gold rose by 0.1% to $2,330.70 per ounce, following a 1% decline in the previous session, while U.S. gold futures also increased […]
Economists Predict Fed to Slash Rates Twice This Year, Reuters Survey Shows
The majority of economists surveyed by Reuters predict that the U.S. Federal Reserve will cut its key interest rate twice this year, with the first cut expected in September. However, there remains a significant risk that the Fed may opt for only one rate cut or none at all. Recent shifts in market expectations, influenced […]
ADP Data Shows Slower Private Payrolls Growth in May
Private payrolls growth in May fell short of expectations, with ADP reporting an increase of 152,000 jobs, lower than the downwardly revised April figure of 188,000 and below the consensus estimate of 175,000. The services sector drove most of the hiring, while goods producers only added a net of 3,000 jobs to the total. Key […]
Services ISM Unexpectedly Surges Out Of Contraction, Prints At 53.8, Above All Estimates
Services ISM Unexpectedly Surges Out Of Contraction, Prints At 53.8, Above All Estimates After the Manufacturing ISM unexpectedly tumbled to the lowest level since February (led by a collapse in New Orders which tumbled at the fastest rate since Dec 2023), markets were expecting today’s Services ISM to come in well below estimates and to […]
Dollar Strengthens Ahead of Crucial Economic Indicators, Bank of Canada Meeting
The dollar gained ground ahead of pivotal U.S. economic indicators, as investors anticipate key data releases and the Bank of Canada’s policy meeting, which could initiate a cycle of rate cuts. Eyes are on U.S. services data, with further job figures expected later in the week. Lingering concerns over a softening U.S. economy have fueled […]
Bank of Canada Cuts Rates By 25bps As Expected, First G7 Central Bank To Launch Easing Cycle
Bank of Canada Cuts Rates By 25bps As Expected, First G7 Central Bank To Launch Easing Cycle As widely expected after significant dovish commentary in recent months, moments ago the Bank of Canada cut rates by 25bps from 5.00% to 4.75% as a majority of economists expected, and signaled that it is “reasonable to expect […]
China Has Legitimate Reasons Not To Participate In The Upcoming Swiss “Peace Talks”
China Has Legitimate Reasons Not To Participate In The Upcoming Swiss “Peace Talks” Authored by Andrew Korybko via Substack, China’s objective national interests are advanced by positioning itself to play a key role in politically resolving the Ukrainian Conflict, even though it’ll closely work in coordination with (and arguably through) Brazil to this end since […]
ADP Payrolls Unexpectedly Tumble To Lowest Since January As Wage Growth Continues Slowing
ADP Payrolls Unexpectedly Tumble To Lowest Since January As Wage Growth Continues Slowing Extending the recent trend of unexpectedly weak labor market indicators, moments ago ADP reported that in May, the US added just 152K Private Payrolls, a 36K drop from the March (downward revised) number of 188K (originally 192K) to the lowest number since […]