Source: WSJ A number of stock markets across the globe retreated on Thursday, dragged by remarks of Federal Reserve officials hinting a possible rate hike in 2023. Declines were recorded on futures linked to the S&P 500, Nasdaq 100, and Dow Jones Industrial Average.Retreats were noted in most overseas markets -- the Stoxx Europe 600, Japan's Nikkei 225, South Korea's … [Read more...] about Rate Hike Expectations Drag Global Markets
Forex News
Unemployment Rate in Hong Kong Falls for the third month to 6% in May
Source: Bloomberg Unemployment rate in Hong Kong fell to 6% in May, signaling the city’s likely step out from lengthy inflation. USDHKD is up 0.02% The 6% rate came below a consensus forecast of 6.2%.Unemployment rate came down for three months in a row, this was last witnessed in March 2011 when the rate fell for 5 consecutive months from November 2010.Number of … [Read more...] about Unemployment Rate in Hong Kong Falls for the third month to 6% in May
China-US Trade Wars Derails Growth of Global Value Chains by 3-5 Years-UNDP
Source: Bloomberg Continued trade wars between the US and China is costing global value chains about 3-5 years of growth. SPY is down -0.56%, CSI 300 is up +0.42%, USDCNY is up +0.61% The report by the United Nations Development Programme pokes holes on economic recovery in China and the Asia-Pacific region following trade wars. UNDP says the absence of … [Read more...] about China-US Trade Wars Derails Growth of Global Value Chains by 3-5 Years-UNDP
Canada’s Inflation Surges to 10-Year High on Shelter, Vehicle Prices
Source: Statistics Canada Canada's inflation accelerated to its fastest pace in a decade in May, on the back of base effects and higher shelter and vehicle prices. The Consumer Price Index climbed 3.6% in May from 3.4% in April. This is the fastest in 10 years since May 2011.The CPI climbed 0.5% month-on-month, the same growth recorded in April.Base effects affected price … [Read more...] about Canada’s Inflation Surges to 10-Year High on Shelter, Vehicle Prices
U.S. Housing Records 5.5 Million Unit Deficit
Source: NAR The United States added 5.5 million housing units less in the last two decades than in previous years, according to the National Association of Realtors. American builders added an average 1.225 million new housing units from 2001 to 2020.The figure is 275,000 units lower than the average 1.5 million new units from 1968 to 2000.The deficit is composed of 2 … [Read more...] about U.S. Housing Records 5.5 Million Unit Deficit
