Author: FX
New Zealand retail sales data for Q3 is the highlight. Retail spending in NZ has been pressured by high rates and a weak economy, and this is expected to show in the data again today, despite the RBNZ kicking off its easing cycle in August:The RBNZ reduced the Official Cash Rate (OCR) by 25 basis points, bringing it down to 5.25%. This marked the first rate cut since March 2020, signaling a shift from the previous tightening stance.with another cut in October:In response to a weakening economy and subdued inflation, the RBNZ implemented a more substantial cut of 50 basis…
Images By Tang Ming Tung/DigitalVision via Getty Images Movie theater box offices got a much-needed jolt this weekend as musical “Wicked” and sword-and-sandal epic “Gladiator II” brought in a combined $270M, according to studio estimates. “Wicked” opened with $114M in US ticket sales and $164.2M worldwide for Comcast’s ( Source link
By Bo Erickson WASHINGTON (Reuters) – Republican U.S. Senator Rand Paul voiced opposition on Sunday to the idea of using the military to carry out mass deportations of people living in the country illegally after President-elect Donald Trump signaled last week that he plans to do so. “You don’t do it with the Army because it’s illegal,” Paul said on CBS’s “Face the Nation” program. “If they send the Army into New York and you have 10,000 troops marching carrying semi-automatic weapons, I think it’s a terrible image, and I will oppose that.” A 19th century U.S. law prohibits federal…
Mon: German Ifo (Nov), US National Activity Index (Oct)Tue: FOMC Minutes (Nov); US New Home Sales (Oct), Richmond Fed (Nov)Wed: RBNZ Policy Announcement; Australian CPI (Oct), German GfK (Dec), US GDP 2nd (Q3), PCE Prices Prelim. (Q3), PCE Price Index (Oct), Initial Jobless Claims (23rd Nov), Durable Goods (Oct)Thu: US Holiday: Thanksgiving. CBRT Minutes (Nov); EZ M3 (Oct), EZ Consumer Confidence Final (Nov), German CPI Prelim. (Nov), Japanese Tokyo CPI (Nov), Unemployment (Oct)Fri: German Retail Sales (Oct), French Prelim. CPI (Nov), German Unemployment (Nov), EZ HICP Flash (Nov), Canadian GDP (Q3)FOMC Minutes (Tue):At its November meeting, the FOMC cut rates…
IgorIgorevich/iStock Editorial via Getty Images President-elect Donald Trump’s pick for Commerce secretary, Howard Lutnick is in talks with the company behind the world’s largest stablecoin, Tether, to launch a multibillion-dollar program to lend dollars to clients against Bitcoin, Bloomberg reported Sunday. Lutnick’s financial services firm Cantor Source link
WASHINGTON (Reuters) -U.S. President-elect Donald Trump has chosen Brooke Rollins (NYSE:), president of the America First Policy Institute, to be agriculture secretary. “As our next Secretary of Agriculture, Brooke will spearhead the effort to protect American Farmers, who are truly the backbone of our Country,” Trump said in a statement. If confirmed by the Senate, Rollins would lead a 100,000-person agency with offices in every county in the country, whose remit includes farm and nutrition programs, forestry, home and farm lending, food safety, rural development, agricultural research, trade and more. It had a budget of $437.2 billion in 2024. The…
BERLIN (Reuters) – Independent (LON:) experts looking into the financial needs of Thyssenkrupp (ETR:)’s steel business have taken a positive view on its ability to continue as a going concern, Germany’s Der Spiegel magazine reported on Sunday. Citing informed sources, Der Spiegel reported that the steel business has financial security for at least for two years. There was no immediate comment from the company when contacted by Reuters. In September, Thyssenkrupp commissioned two external reports to take a deep look at the steel business’s short- and long-term financial health and needs. Earlier this month, Thyssenkrupp said it had written down…
UPCOMING EVENTS:Monday: PBoC MLF, German IFO.Tuesday: US Consumer Confidence, FOMC Minutes.Wednesday: Australia Monthly CPI, RBNZ Policy Decision, US Q3 GDP 2nd Estimate, US PCE, US Durable Goods, US Jobless Claims.Thursday: German CPI. (US Holiday)Friday: Tokyo CPI, Japan Unemployment Rate, France CPI, Switzerland Q3 GDP, Eurozone CPI, Canada GDP.TuesdayThe US Consumer Confidence is expected at 111.6 vs. 108.7 prior. Last month, consumer confidence bounced back strongly from 99.2 in September to 108.7 in October. Dana M. Peterson, Chief Economist at The Conference Board said: “Consumer confidence recorded the strongest monthly gain since March 2021, but still did not break free of…
AMMAN (Reuters) -A gunman was dead and three policemen injured after a shooting near the Israeli embassy in neighbouring Jordan, a security source and state media said on Sunday. Police shot a gunman who had fired at a police patrol in the Rabiah neighbourhood of Amman, state news agency Petra reported, citing public security, adding investigations were ongoing. Jordanian police had earlier cordoned off an area near the heavily policed embassy after gunshots were heard, witnesses said. Two witnesses said police and ambulances rushed to the Rabiah neighbourhood, where the embassy is located. The area is a flashpoint for frequent…
Villeroy heads up the Bank of France. He spoke with Ouest-France newspaper, commenting on wages and CPI:“Prices are increasing less quickly than wages on average — this also allows us to lower interest rates”Villeroy stressed that the ECB reaches its interest rate policy decisions independent of the Federal Reserve:“The proof is that we had started to lower interest rates at the beginning of June, and the Fed only lowered them three months later. With the fall in inflation, we will be able to continue to lower rates.”**The European Central Bank (ECB) is expected to cut rates at its next meeting,…