US economy outperforms as 254,000 jobs added, unemployment falls
The US economy added 254,000 jobs in September, beating projections of 140,000. The unemployment rate dipped to 4.1%, showing continued strength in the labor market....
Tag : Federal Reserve
Fed Chair Powell signals smaller rate cuts to keep economy in solid shape
Federal Reserve Chair Jerome Powell emphasized a cautious approach to future rate cuts, noting that the Fed will act based on economic conditions, inflation trends, and the job market....
Chinese Yuan hits record lows against surging US dollar
The yuan has hit new record lows against the surging US dollar, with the internationally-traded yuan reaching its lowest point since 2011 and China’s domestic currency hitting its weakest level since the 2008 global financial crisis. This depreciation comes as the dollar continues to rise against other major currencies due......
JPMorgan Chase exceeds expectations with stellar first-quarter results
JPMorgan Chase announced a record-breaking first-quarter profit and revenue that surpassed expectations on Friday. The New York-based bank reported a profit of $12.6 billion or $4.10 per share, up 52% from $8.3 billion or $2.63 per share a year earlier. Analysts had predicted earnings of $3.41 per share, according to......
Dollar slips as investors await Powell testimony
Investors were watching for testimony from Federal Reserve Chair Jerome Powell on Monday as well as the February jobs report at the end of the week, which will likely influence how hawkish the central bank will be going forward. Dollar index, which measures the value of the U.S. currency against......
Gold prices plummeted globally following the US interest rate hike
The price of gold inched lower on Thursday as the dollar recovered in the wake of the US Federal Reserve’s approval, in line with many analysts’ expectations, of a 75-basis-point interest rate increase – its largest in over two decades – to stem a surge in inflation, and signal a......