News

Posted on April 3, 2024 by James Miller

Unexpectedly strong economic indicators, such as U.S. job openings and factory orders exceeding forecasts, have dampened optimism about the Federal Reserve’s pace of interest rate cuts.  Analysts and traders hoping for easing were taken aback by data suggesting a more resilient economy. This resilience has pushed yields on 10-year Treasury bonds to their highest since […]

Posted on April 2, 2024 by James Miller

Copper prices surged above $9,000 a ton, fueled by promising manufacturing data from China and the potential for cutbacks in production by the country’s leading smelters.  The positive momentum comes as China’s official manufacturing purchasing managers index for March hit its highest level in a year, signaling robust economic recovery. In the U.S., a factory […]

Posted on April 1, 2024 by James Miller

Trafigura has agreed to a plea deal with the US Department of Justice, paying $127 million to resolve bribery charges.  The settlement, announced on March 28 in a Miami federal court, includes a $80.4 million fine and a $46.5 million forfeiture.  This marks the first time the commodity trading company has admitted to such practices. […]

Posted on March 29, 2024 by James Miller

As China’s yuan continues its decline, market insiders and analysts observe what appears to be a deliberate but moderate depreciation strategy by Chinese authorities. This approach aims to support the nation’s exports and align with its easy monetary policy stance.  With a near 2% drop against the dollar this year, the yuan’s competitive edge is […]

Posted on March 27, 2024 by James Miller

In response to increasing unemployment, the Federal Reserve is signaling a willingness to cut rates, even if it means tolerating higher inflation for a while.  Fed Chair Jerome Powell added that “an unexpected weakening in the labor market could also warrant a policy response.” Powell’s comments signal a departure from the Fed’s previous approach.  As […]

Posted on March 27, 2024 by James Miller

Singapore’s core inflation rate increased sharply in February, reaching a seven-month high due to the seasonal impacts of the Lunar New Year.  The core inflation, which omits costs related to private road transport and accommodation, was at 3.6% year-on-year, outpacing the previous month’s rate of 3.1%. This uptick reflects the highest core inflation rate since […]

Posted on March 27, 2024 by James Miller

Oil prices fell for the second consecutive day today due to an unexpected surge in U.S. crude inventories, rising by 9.3 million barrels. Brent crude and West Texas Intermediate (WTI) saw declines, with prices falling 78 cents or 1% to $80.84. Distillate inventories increased slightly, while gasoline stocks decreased significantly. These fluctuations shape oil price […]

Posted on March 25, 2024 by James Miller

Shareholders of Digital World Acquisition Corp. approved a merger with Donald Trump’s Truth Social, enabling the former president’s company to debut on the Nasdaq. With nearly 79 million shares to his name, Trump’s stake is poised to escalate to almost $3 billion. Before the vote, Digital World disclosed numerous investment risks in its filings, including […]

Posted on March 22, 2024 by James Miller

Amid ongoing food inflation, Americans across all income brackets increasingly turn to Buy Now, Pay Later (BNPL) services to manage grocery and takeout expenses. Last year, an estimated 15 million consumers, representing 6.5% of the U.S. population, utilized BNPL plans for food purchases. This is a trend that is expected to continue as food prices […]

Posted on March 22, 2024 by James Miller

Canada’s inflation rate dropped to its lowest since June last month, catching analysts off guard and sparking increased speculation about a possible interest rate cut in June 2024. The annual inflation rate fell to 2.8% in February, below the 3.1% analysts had expected. Meanwhile, the consumer price index (CPI) rose by only 0.3% from the […]