A new report estimates that Europe's extreme summer heat will cost the EU economy €180 billion, equivalent to 1% of GDP, potentially wiping out all expected growth for 2026. France faces a contraction, while the Netherlands' growth is nearly eliminated.
Brazil's central bank is exploring cross-border integration for its Pix instant payment system, a move that comes as the platform faces scrutiny from the U.S. government over alleged unfair practices, potentially impacting new tariffs on Brazilian goods.
Falling Australian house prices are providing a silver lining by potentially reducing the likelihood of further interest rate hikes from the Reserve Bank of Australia. Governor Michele Bullock noted the housing market has eased more than anticipated, influencing the central bank's assessment of economic slowdown needed to combat inflation.
The U.S. trade deficit in goods and services decreased to $73.3 billion in June, a 5.6% drop from May. This decline was driven by lower imports of computers and pharmaceuticals, alongside a slight decrease in petroleum exports, though services exports reached record highs partly due to tourism.
U.S. stock indexes opened little changed Monday as investors monitored Middle East developments and braced for a week of crucial inflation data and corporate earnings. Futures for the S&P 500 and Nasdaq edged higher.
Futures for S&P 500 and Nasdaq edged higher as markets monitored the Strait of Hormuz situation and awaited inflation data.
Global equities rose slightly, building on Wall Street's record high, as markets awaited US inflation data and news on the Strait of Hormuz.
Wall Street indexes are poised for a subdued open, with investors monitoring Middle East developments and awaiting key economic data.
Wall Street indexes opened little changed as investors monitored Middle East developments and awaited inflation data.
China's central bank plans to increase the yuan's international use and maintain exchange rate stability during its 15th Five-Year Plan (2026-2030). The move aims to enhance financial security and global monetary framework resilience amid a perceived weakening of the dollar-centered system.
The July jobs report showed a contraction of 23,000 payroll jobs, leading market participants to lower expectations for a September Federal Reserve rate hike to below 50%. Despite the weak figures, some economists believe the labor market remains stable and inflation concerns could still prompt further rate increases.
Lead Analyst Logan Mohtashami discusses jobs data and its potential impact on a September Fed rate hike.
The new article states Fed officials are primarily focused on inflation trajectory, not just the jobs report, suggesting a September rate hike is still possible.
Following a dismal July jobs report, investors are closely watching this week's inflation data for clues on the Federal Reserve's next move. The Fed faces a balancing act between controlling inflation and supporting the labor market.
Western Europe experienced its hottest June-July on record, with the combined average temperature reaching 21.62C, surpassing the 2022 record. The EU's climate monitor noted significantly lower soil moisture than during the last severe drought in 2022, highlighting the intensifying effects of climate change.
Crypto markets are poised for a pivotal week, with U.S. CPI inflation data and Gemini's earnings report among key events. Traders will be watching closely to see if easing inflation can prompt the Federal Reserve to pause interest rate hikes, potentially boosting digital asset markets.
Treasury Secretary Scott Bessent is spearheading U.S. efforts to stabilize the Japanese yen, marking a significant currency intervention. This move aims to prevent higher U.S. borrowing costs and support an ally amid competition with China.
Investor morale in the euro zone rose to 0.9 points in August from -3.1 in July, marking the fourth consecutive monthly increase and reaching its highest level since February 2026, according to a Sentix survey.
Asian share markets followed Wall Street higher on a soft U.S. jobs report that eased rate hike fears. Oil prices saw a slight increase due to stalled Gulf peace talks and shipping lane concerns. The market's probability of a September Fed rate hike decreased significantly.
Asian stocks rose and oil prices increased due to a soft U.S. jobs report and ongoing Gulf peace talk uncertainty.
Asian stocks rose, tracking Wall Street, as a weak U.S. jobs report eased rate hike fears. Oil prices increased slightly on stalled Gulf peace talks.
Indonesian President Prabowo Subianto has nominated Bank Indonesia Senior Deputy Governor Destry Damayanti to replace Perry Warjiyo as the central bank's governor. Damayanti has been serving as acting governor since Warjiyo's resignation.
JPMorgan CEO Jamie Dimon warned that the US dollar could lose its reserve currency status if the nation fails to maintain its economic and military dominance. He cited reliance on adversaries for critical goods and the nation's productive capacity as vulnerabilities.
Ten US investment firms, including Citadel and Millennium, now represent 25% of client-cleared yen interest rate swaps at Japan Securities Clearing Corporation. This influx began after US regulators allowed access to the Tokyo-based counterparty in September.
Bank of Japan policymakers discussed speeding up interest rate hikes in July due to inflation risks, according to a policy meeting summary. This has led to increased anticipation of a September rate move and a rise in Japanese government bond yields.
Bank of Japan members discussed accelerating interest rate hikes in July due to inflation risks, potentially impacting September policy.
BOJ policymakers debated accelerating rate hikes in July, increasing the likelihood of a September move.
Japanese bond yields rose as markets increasingly anticipate a faster pace of Bank of Japan rate hikes.
BOJ faces political pressure to support the bond market, potentially offsetting rate hikes.
Markets are pricing in faster Bank of Japan rate hikes after a policy meeting summary indicated a potential for accelerated increases.
The U.S. dollar held near a two-month low as investors awaited inflation data for clues on the Federal Reserve's rate path. Soft U.S. jobs data has reduced expectations for a September rate hike, while the yen weakened significantly against the dollar.
The dollar neared a two-month low as investors await US inflation data to gauge the Federal Reserve's rate path.
Markets face a busy week with potential U.S.-Japan yen intervention and Iran-Oman deal talks.
Britain's labor market showed tentative signs of stabilization in July, with recruiters no longer shedding permanent staff, according to a survey. Starting salaries also saw a faster rise, a key metric for the Bank of England.
Bond investors are expressing increased concern over the Federal Reserve's commitment to controlling inflation, particularly following the Fed's decision to hold rates steady. This has led to a significant steepening of the yield curve, with long-term yields rising while short-term yields fall, signaling a lack of market confidence in the Fed's strategy.
