What you need to know about global news up date

*1. The ADP payrolls data for June surged 497,000, double the 228,000 expected, the biggest monthly gain since February last year and well ahead of the 278,000 reading. U.S. challenger companies cut 40,700 jobs in June, the fewest since October 2022. U.S. interest rate futures priced in a November rate hike after the data.*

*2. The ISM non-manufacturing PMI rose to 53.9 in June from 50.3 in May, beating expectations for a reading of 51, while a gauge of business input prices fell to a more than three-year low, suggesting that inflation in the closely watched services sector will continue to cool.*

*3. The US trade deficit narrowed in May as the value of imports fell to the lowest level since October 2021. ​The trade deficit in goods and services fell $5.5 billion, or 7.3%, to $69 billion from the previous month, according to data released Thursday by the Commerce Department.*

*4. Logan, the Fed president, said she was skeptical that a lag in rate hikes would have a significant effect;; There was so much concern about whether inflation could quickly cool that further rate hikes might be warranted;; In order to achieve the FOMC’s objectives, a more restrictive policy will be required.*

*5. On July 6, the Atlanta Fed GDPNow model’s estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2023 came in at 2.1%, up from 1.9% on July 3.*

*6. With investors fully pricing in another half-point rate hike from the Bank of England in August.*

*7. Bank of Japan Deputy Governor Shinji Uchida said in an interview with the Nihon Keizai Shimbun that yield curve control (YCC) will be continued.*

*8. The U.S. Energy Information Administration said crude oil inventories fell by 1.508 million barrels in the week ended June 30, more than the 0.983 million barrel decline expected.*

*9. Saudi Arabia has raised the official price of Arab light crude for sale in Asia in August by 20 cents a barrel.*

*10. According to the source, Opec is optimistic about the outlook for oil demand in 2024, even if the demand growth forecast has slowed from this year..Mazrouei, the U.A.E. energy minister, said Opec+ would adjust production quotas in 2025 to resolve the discrepancy.*

*11. The World Gold Council, releasing its 2023 Mid-Year Outlook for the Gold Market, said it expected range-bound bond yields and a weak dollar to continue to provide support for gold prices after a continuedk rise in returns in the first half of the year.*

*12. Belarusian President Alexander Lukashenko has said he is ready to mediate peace talks in Ukraine, TASS reported.*

*13. Binance will exit the Dutch market on July 17, 2023, according to Dutch cryptocurrency platform CoinCommerce.*

*14. Google has delayed the launch of a tailor-made chip for mobile phones until 2025, according to The Information.*

*15. The Securities and Exchange Commission is imposing a series of new rules on money-market mutual funds that could put them on a collision course with giants in the $5.5 trillion industry.*

About the author: Love Travel
Tell us something about yourself.

Get involved!


No comments yet