Category: Macro
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Payroll: US Creates 275,000 Jobs in February, Surpassing Expectations
The US saw a notable addition of 275,000 nonfarm payroll jobs in February, as reported by the Bureau of Labor Statistics on Friday. Although this figure fell short of January’s 353,000 job gains, it exceeded expectations set by analysts. Analysts’ estimates, according to the LSEG consensus, were for the creation of 200,000 jobs in the…
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Powell: We are well aware of the risk of cutting rates too late
United States Federal Reserve Board Chairman Jerome Powell emphasized on Thursday, during his speech before the House Financial Services Committee, that the central bank acknowledges the potential consequences of delaying interest rate cuts. “Reducing policy restraint too soon or too much could result in a reversal of progress we have seen in inflation and ultimately…
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US trade deficit up 5.1% to $67.4B in January
The goods and services trade deficit in the United States reached $67.4 billion in January, rising 5.1% from December, according to the latest report by the Census Bureau on Thursday. Exports grew 0.1% on a monthly basis in January, standing at $257.2 billion. Meanwhile, imports were up 1.1% month-on-month, amounting to $324.6 billion. Compared to…
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European Central Bank holds interest rates steady
The European Central Bank (ECB) shared on Thursday that it will keep its interest rates unchanged for the fourth consecutive time in a row since last year. The interest rate on the main refinancing operations will remain at 4.50%, on the marginal lending facility and the rate on the deposit facility being kept at 4.75%…
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US initial jobless claims unchanged at 217,000
Initial jobless claims in the United States for the week ending March 2 came in at 217,000, unchanged from the previous week’s revised level, the Department of Labor said in its report published on Thursday. The 4-week moving average was 212,250, decreasing by 750 week-on-week. The insured unemployment rate came in at 1.3% for the…
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US wholesale inventories down by 0.3% in January
Wholesale inventories in the United States decreased by 0.3% in January compared to the previous month and amounted to $895.1 billion, according to a report by the US Census Bureau on Wednesday. The figure was revised from the advanced decline of 0.1% published at the end of February. Inventories were down 2.5% compared to January 2023. Meanwhile,…
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US job openings at 8.9 million in January
Job openings in the United States stood at 8.9 million in January, little changed from the previous month, the US Bureau of Labor Statistics reported on Wednesday. The job opening rate was unchanged at 5.3%. The Job Openings and Labor Turnover Survey (JOLTS) showed that the number and rate of hires were little changed at…
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US mortgage applications up 9.7%
Mortgage applications in the United States increased by 9.7% in the week ending March 1, according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey published on Wednesday. According to the report, the average contract interest rate for 30-year fixed-rate mortgages continued to decline, falling to 7.02% from last week’s 7.04%. Meanwhile, the Refinance…
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Powell Expects Fed Rate Cuts, Warns Inflation Progress Uncertain
Federal Reserve Chair Jerome Powell said on Wednesday that the ongoing progress of inflation is “not guaranteed,” although the central bank still expects to lower its benchmark interest rate this year. “If the economy evolves as expected, it will likely be appropriate to begin easing monetary policy at some point this year,” Powell stated in…
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Gold Reaches New Record High Amid Fed Speculations and Global Risks
On Tuesday, gold hit a new milestone by reaching a historic high, driven by a combination of fund purchases and speculation about future changes in the Federal Reserve’s monetary policy, along with geopolitical and financial concerns that have bolstered the precious metal’s rally. Gold prices saw an increase of up to 1.3%, reaching $2,141.79 an…