Consumer Spending Surge Boosts U.S. Retail Sales in September

Published: Thursday, 17 October 2024 10:31 | Print | Email
U.S. retail sales showed a solid increase of 0.4% in September, surpassing economists' expectations of a 0.3% rise. This growth was driven by strong consumer spending in various sectors, including restaurants, clothing stores, and online purchases. The increase in retail sales suggests that the U.S. economy maintained robust growth in the third quarter, supported by solid income growth, ample savings, and strong household balance sheets.

Read more ...

Hong Kong Races to Boost Gold Trading Prowess Amid Regional Rivalry

Published: Thursday, 17 October 2024 10:16 | Print | Email
Hong Kong's Chief Executive John Lee has called for urgent action to strengthen the city's position as a global gold trading center, citing competition from Singapore's recent launch of a 500-tonne gold vault. Lee emphasized the need to build up Hong Kong's gold and commodity trading market from its current "low base" to transform it into a "game-changer" for the economy.

Read more ...

ECB Rate Cut Looms: Markets Seek Clues on Future Policy Path

Published: Thursday, 17 October 2024 09:31 | Print | Email
The European Central Bank is poised to cut interest rates for the third time this year, with markets expecting a 0.25% reduction. While this move is largely anticipated, investors are keen to understand the ECB's future policy direction. The euro has already weakened against the dollar, and the ECB's tone could further influence its trajectory. Simultaneously, global markets are watching other economic indicators, including TSMC's earnings and U.S. retail sales data.

Read more ...