The Japanese yen fell below ¥160 to the dollar on this week’s opening trading day, and South Korea’s won recently dipped below 1,400, falling to its lowest mark in almost two years.
Tag: Global Economy
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YEN’S VALUE CRASHES TO 34-YEAR LOW
On 29 April, Japan’s yen fell to its lowest value since at least 1990, trading below ¥160 to the dollar, after the country’s central bank left its key interest rates untouched at zero and 0.10 percent. The yen has lost about a third of its value in the past three years.
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COPPER PRICE REACHES $10,000 A TON AMID SHORTAGE FEARS
Copper’s future price briefly topped $10,000 last week for the first time in two years amid fears that demand will once again overcome supplies as manufacturers of clean energy technologies respond to a growing market, Bloomberg reported.
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EUROZONE SHOWS ECONOMIC SPURT IN APRIL
In April, the Eurozone’s flash purchasing managers index (PMI) for the overall economy rose to 51.4 from 50.3 in March, the strongest rating in 11 months. Analysts in a Reuters poll had predicted a reading of 50.8.
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GOING OUT OF BUSINESS TRENDS
In recent times, the economic landscape has presented an array of challenges that have profoundly affected the business community.
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WHEN THE ECONOMY FALLS JOBS GO WITH IT
It’s global. The numbers are there for all to see. From developed to underdeveloped nations, economies are slowing down and/or contracting.
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U.S. RAMPS UP WAR GAMES AGAINST CHINA
The U.S. and Filipino navies kicked off a three-week war game exercise that included drills in the South China Sea as tensions with Beijing increased and just after the U.S. House of Representatives passed a $95 billion war-funding bill with $8 billion earmarked for Taiwan.
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LUXURY FIRM LVMH POSTS DISAPPOINTING QUARTERLY RESULTS
LVMH, the luxury house that owns Louis Vuitton fashion, Moët & Chandon champagne, and other high-ticket brands, posted first-quarter revenue of $21.97 billion, 2 percent below the same period in 2023.
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MIDEAST WAR CREATING LONG-TERM REGIONAL ECONOMIC INSTABILITY, IMF SAYS
Israel’s war on terror group Hamas, and the overhanging threat of a larger conflict, has created instability in the Middle East that will result in a long-term negative impact on the region’s economy, the International Monetary Fund (IMF) said in its new World Economic Outlook report.
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IMF: U.S. BUDGET DEFICITS POSE “SIGNIFICANT RISKS” TO WORLD ECONOMY
The U.S. government’s growing annual budgets are fueling inflation and create “significant risks” for the global economy, the International Monetary Fund (IMF) wrote in its new World Economic Outlook report.