Argentina’s poverty soars to 53% amid Milei’s austerity measures
Argentina’s poverty rate soared to nearly 53% in the first half of 2024, according to official data released on Thursday, marking a sharp increase from the 41.7% reported at the…
Economy
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Mexico’s trade deficit expands to $4.87 billion in August as imports surge
In an unexpected turn of events, Mexico’s trade deficit rose to $4.868 billion in August 2024, a significant increase from the $1.278 billion deficit reported in the same month the…
PCE report reveals cooling inflation in August—are more rate cuts on the horizon?
Inflation in the US continued its downward trend in August, latest data has shown, providing hope for additional interest rate cuts by the Federal Reserve. The Personal Consumption Expenditures (PCE)…
USDARS and USDCOP trends this week: Indicators of currency resilience and challenges for Argentina and Colombia
In the week ending on September 27th, two currencies drew significant attention: the Argentine peso (USDARS) and the Colombian peso (USDCOP). Their movements present a fascinating narrative of both gains…
Steel rebar futures jump to CNY 3,170: Chinas’ stimulus measures boost market optimism
In September, the futures for steel rebar experienced a notable increase, reaching CNY 3,170 per tonne. This spike represented the highest price seen in a month, largely driven by the…
US GDP grows 3% in Q2 2024: private inventory investment drives upward adjustment
In the second quarter of 2024, the US economy expanded at a 3% annualized rate, demonstrating its resiliency. This figure is consistent with the prior estimate and represents a significant…
China’s industrial profits fall 17.8% in August amid weak economic growth and property slump
China’s industrial profits plunged 17.8% in August compared to the previous year, signaling growing concerns over the country’s economic slowdown. The sharp decline, reported by the National Bureau of Statistics…
Chinese stocks soar, posting best weekly gains since 2008 amid stimulus optimism
Chinese stocks surged on Friday, on track to close their best week since the 2008 global financial crisis, driven by optimism over new government stimulus measures. The CSI 300 Index,…
ARB surges as Arbitrum completes major ArbOS 32 upgrade, extending weekly gains
The cryptocurrency market traded in the green over the past few sessions amid the recovering global economy. As digital assets stole the show with significant surges over the past week,…
Global financial hubs London, New York, Hong Kong face decline as emerging Asian cities surge
The global financial landscape is undergoing a seismic shift, with traditional powerhouses such as London, New York, and Hong Kong facing mounting challenges. A recent report by the Global Financial…