About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
China January factory surge steps down to eight-month minimum on pollution war
In January, surge in China's manufacturing sector stepped down more than anticipated, hitting an 8-month minimum amid a cooling property market as well as tighter pollution regulations, which have affected factory output.
The data that gives global market participants their first look at business conditions in this Asian country in the beginning of this year, underpinned the view that the Chinese economy is already losing steam after ascending by a better-than-anticipated 6.9% in 2017.
Published on Wednesday, the official Purchasing Managers' Index slumped to 51.3 in January versus December’s reading of 51.6. However, it stood above the 50-point mark, traditionally separating surge from descend on a monthly basis.
Market experts polled by Reuters had predicted that the headline number would go down a bit to 51.5.
In January, a separate PMI on the steel industry tacked on to 50.9 versus December’s reading of 50.2.
Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.