logo

Global Economic News

Share

The Federal Reserve continues to project two more rate hikes are on the way this year with three more on the way for 2019, according to the minutes of their most recent meeting. There was no interest rate hike at the May meeting, but policy makers debated the threat of inflation and acknowledged trade-related...

Brazil posted a net foreign-exchange inflow of US$ 314 million this month until May 18, with a trade surplus of US$ 4.148 billion and a net financial outflow of US$ 3.834 billion, according to central bank data. The trade surplus is a result of US$ 11.650 billion in exports and US$ 7.502 billion in...

The one-day interbank deposit futures rates (DI rates) in Brazil opened lower, reacting to a lower-than-expected mid-month inflation rate. The January 2019 DI contract rate fell to 6.570% in the start of the session, from 6.590% Tuesday, while the January 2020 DI rate decreased to 7.46%, from 7.52%....

The Brazilian annual mid-month inflation reached 2.70% in May, while analysts expected a 2.83% reading, according to data from the country's statistics office (IBGE). On a monthly comparison, the mid-month inflation fell to 0.14% in May, from 0.21% in April, also missing market estimates of a 0.27% rate.

Brazilian consumer confidence index fell 2.5 points in May from a month before, to 86.9 points - the lowest level since October 2017 - according to Fundallo Getulio Vargas. Data showed that consumers are satisfied with current economic conditions, but worried about the future. "Consumer confidence...

The end of Cide-Combustiveis, one of the federal taxes on fuels, will apply only to diesel oil and must be offset by the end of a payroll tax relief, said the Brazilian Finance Minister, Eduardo Guardia. His remarks differ from the information provided by the Brazilian House of Representatives speaker,...

john-mcafee-crypto-052318.jpg Internet security expert and cryptocurrency enthusiast John McAfee has come back with yet another bullish prediction on the crypto market. "Institutional investors are preparing to enter the cryptocurrency market with a vengeance. They are generally long term investors and will be pumping billions into the market", McAfee, the founder of the computer anti-virus company named after him, tweeted.

cryptos-may23.jpg Bitcoin and its peers drifted lower for a third day as market sentiment remained damped due to regulatory concerns and gloomy predictions dwarfed the boost from positive remarks. Here is wrap of the main news from the cryptocurrency and blockchain space over the past 24 hours.

robert-shiller-broken-bitcoin-0523189.jpg Robert Shiller, a Nobel laureate, said cryptocurrencies could turn out to be just another failed currency experiment. "As in the past, the public's fascination with cryptocurrencies is tied to a sort of mystery, like the mystery of the value of money itself, consisting in the new money's connection to advanced science," Shiller wrote in a blog on the Project Syndicate website.

new-home-sales-052318.jpg A report released by the Commerce Department on Wednesday showed a pullback in new home sales in the U.S. in the month of April. The report said new home sales fell by 1.5 percent to an annual rate of 662,000 in April after jumping by 2 percent to a revised rate of 672,000 in March.

altcoin-052318.jpg Altcoin means alternative coin and it is any cryptocurrency other than Bitcoin. Bitcoin is the first cryptocurrency and altcoins followed. Some are built on the same distributed ledger technology as Bitcoin, while others are created on new platforms such as Ethereum and IOTA.

eurozonepmi-052318.jpg Eurozone private sector grew at the weakest pace in one-and-a-half years in May with the rate of expansion slowing for the fourth consecutive month, flash survey data from IHS Markit showed Wednesday. The composite output index dropped to an 18-month low of 54.1 in May from 55.1 in April. The score was forecast to remain unchanged at 55.1. Nonetheless, a reading above 50 indicates growth.

uk-cpi-052318.jpg UK inflation continued to slow to reach a 13-month low in April, driven by air fares, adding doubts about the timing of the next rate hike by the Bank of England. Consumer prices climbed 2.4 percent year-on-year in April, slightly slower than the 2.5 percent increase seen in March, the Office for National Statistics reported Wednesday.

bitcoinslips-may23.jpg As the global cryptocurrency community and Italian food enthusiasts celebrate Bitcoin Pizza Day, most major virtual currencies are in the red. Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin suffered loss in value simultaneously, while Bitcoin's fall was sudden. The most popular cryptocurrency fell from a comfortable position on Monday, when it was trading for about $8,500 and was showing

vanguarddown-may22.jpg An economist at one of the world's leading investment companies predicted that there was a high likelihood of Bitcoin becoming worthless. "I see a decent probability that its [Bitcoin's] price goes to zero," Joe Davis, the global chief economist at Vanguard, said in an op-ed in ETF.com. That said, Davis was enthusiastic about the blockchain.

Follow RTT