Economics

The European Central Bank (ECB) has joined the US Federal Reserve in preparing for a rate cut in 2024, as euro area inflation slumped to just 2.4% in November, barely above the 2% target. This result was significantly better than the market's forecast of a fall to 2.7%.

Canada has confirmed media reports that it will move ahead with new rules that will compel all new vehicles sold in 2035 to be electric-powered.

Chinese electric vehicle (EV) manufacturer, Nio, has secured a second investment this year worth billions of dollars from the government wealth fund of Abu Dhabi, resulting in the Gulf state gaining control of approximately 20.1% of the company.

Further confirmation that the lithium boom has been well and truly pricked with the Federal Government’s December Resource Quarterly revealing another downgrading in the outlook for the key renewable metal for the next two years.

US Steel, America's iconic steelmaker, is set to be acquired by the Japanese giant, Nippon Steel, for $14.9 billion in cash (more than $A22 billion) in a deal that will be welcomed on both sides of the Pacific.

The forecast for a slowdown in Australia's export earnings from resources and energy looks set to continue over the next year to 18 months, but perhaps not at a pace as deep as seen a few months ago.

Buried in last week’s data drop from China’s National Bureau of Statistics was the usual monthly update from the black hole of the country’s economy: property.

Fairmont Equities Managing Director Michael Gable provides an update on the share market.

Online American shoppers are finding what they think are bargains at Costco, America's big-box retail discount club: gold. The retail warehousing giant says customers snapped up more than $100 million of the precious metal in the quarter ending November 26.

China isn't frightened by high or weak gold prices, as its buying this year has once again confirmed.

Japanese financial services company Mitsubishi UFJ Financial Group (MUFG) is making its fifth attempt to take over the troubled Link Administration Holdings, this time through its subsidiary, The Trust Bank.

Oil prices settled lower on Friday but rose slightly for the week due to a weaker dollar and an improved 2024 demand outlook after weeks of losses.

As the world eagerly anticipates Santa Claus' arrival in just one week, investors are already feeling the effects of a significant financial event: the recent rate cut decision by the Federal Reserve. This move is set to dominate headlines not only this week but also as we transition into early 2024, amid the post-holiday hangovers and renewed commitment to New Year diets.

Last week's sharp rise in the ASX200 looks set to be short-circuited today after the share price futures market dropped 74 points on Friday night.

US consumers reopened their wallets and dusted off their credit cards last month as retail sales increased by a stronger-than-forecast 0.3%. In fact, November's rise, following October's 0.2% fall, surprised most economists who had predicted another slide of 0.1%.

As we near the end of a volatile macroeconomic year, we look at some of the interesting trends in global real estate and consider what's to come.

The way iron ore prices continue to trade above $US130 a tonne, there is every chance the 2023-24 budget will be in surplus by June 30 next year after a sharp improvement in the mid-year economic update.

China's leaders have once again demonstrated their lack of clarity regarding the policies needed to steer the country's economy away from the tightening grip of deflation, weak demand, and uncertain confidence.

As expected, the improvement in US consumer inflation slowed in November, with the annual rate dipping to 3.1% from 3.2% after a 0.1% rise in the month.

Australia, home to the world's largest uranium resource, finds itself at a crossroads as it grapples with the question of whether to be a lifter or a leaner in the global pursuit of decarbonisation and energy security.

Just a week ago, gold futures were soaring at $2,150 per ounce. However, by Monday's close, they had plummeted to under $2,000, with further declines anticipated ahead of crucial inflation data and the Federal Reserve's statement and rate decision on Thursday.

In a significant development, new data indicates that patients who underwent treatment with Eli Lilly's groundbreaking weight loss drug, Zepbound, faced weight regain after discontinuing the medication for a year.

According to US media reports, Arkhouse Management and Brigade Capital have recently submitted a proposal to acquire the chain for $21 per share, compared to Friday's closing price of $17.39.

Deepening deflation has tightened its grip on the entire Chinese economy, underscoring the urgency behind the Chinese Communist Party and President Xi Jinping's recent emphasis on increasing government "fiscal stimulus."

It's going to be a nervy half-week ahead for Wall Street, with a rare twin sentiment tester to contend with: a monthly consumer inflation report and then a Fed meeting, complete with new forecasts.

While gold slid, and oil again notched up a losing week, iron ore continued its charge higher, and thermal coal prices had their strongest week in months – both of which should be good news for Australian resource companies.

In a week filled with notable developments and market fluctuations, the Australian Securities Exchange (ASX) and global financial markets experienced significant shifts driven by various overarching themes. Here's a comprehensive breakdown of the key events and their impact on different sectors and stocks during the period from Monday, December 4th, to Thursday, December 7th.

China's latest set of weak trade figures on Thursday has heightened concerns about the strength of economic activity and the potential for further slowdown in 2024. However, iron ore prices have reached their highest level in Singapore in over a year, nearing $US134 per tonne (or more than $A200 per tonne). New data reveals a surge in iron ore imports into China, heading towards a new annual high with one month remaining.

Global oil prices fell for a sixth straight session on Thursday, with the declines amounting to just a few cents. Some traders now believe that the selling pressure has subsided.