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Economy

EU Tariffs Weigh on China's Electric Vehicle Exports, Causing 42% Value Plunge

Chinese electric vehicle (EV) exports plummeted in November, reaching their lowest point since July 2022, driven by a confluence of factors including new European Union tariffs, weakened demand in emerging markets, and intensifying price competition, according to the latest detailed customs data released by Chinese authorities. The value of EV

Canadian Producer Prices Tick Up in November, Driven by Currency Fluctuations

Producer prices in Canada edged up 0.6% in November, according to Statistics Canada, as reported by the Wall Street Journal. This follows a 1.2% increase in October. On an annual basis, the producer-price index climbed 2.2%. The increase was primarily attributed to the depreciation of the Canadian

Moody's Upgrades Sri Lanka on Debt Restructuring

Moody's Investors Service has upgraded Sri Lanka's credit rating, following the conclusion of the country's debt restructuring of its dollar bonds, reports Bloomberg. This move by the rating agency, which occurred on Monday, reduces the risk of default on future bonds. Sri Lanka'

Portugal Home Prices Surge on Foreign Demand and Shortage

Home prices in Portugal saw their most significant quarterly increase in almost two years during the third quarter, fueled by strong foreign demand and a chronic shortage of homes on the market, as reported by Bloomberg. Portugal's National Statistics Institute revealed that home prices climbed 9.8% year-on-year

Mexico Inflation Cools, But Services Inflation Keeps Banxico Cautious

Mexico's inflation slowed slightly less than expected in early December, as reported by Bloomberg, with services prices continuing to exert upward pressure. This supports the central bank's cautious approach to interest rate cuts, as seen in their recent decision to lower borrowing costs by a quarter-point

Brazil's Fiscal Woes Plunge Real to Record Low Amidst Investor Fears

A surge of panic in Brazil's financial markets has exposed deep-seated investor anxiety over President Luiz Inácio Lula da Silva's handling of the country's finances, as reported by the Financial Times. The crisis, marked by a record low for the Brazilian real against the

Hedge Funds Bet Big on Dollar-Yen Rise, Pushing Currency Pair Towards 165

Hedge funds are betting big on the dollar-yen's continued rally, with some traders predicting the currency pair could rise as much as 5% in the coming months, reports Bloomberg. This bullish sentiment follows hawkish interest rate decisions by the Federal Reserve and dovish pronouncements by the Bank of

Macron Backs Ethiopia's Debt Restructuring Efforts

French President Emmanuel Macron has expressed his full support for Ethiopia's ongoing debt restructuring efforts, emphasizing the need for a swift resolution "in the coming weeks," according to a joint press conference with Ethiopian Prime Minister Abiy Ahmed reported by Reuters. Macron's statement, made

Colombia Central Bank Slows Rate Cuts Amidst Uncertainty

Colombia's central bank surprised markets on Friday by implementing a smaller-than-expected interest rate cut, opting for a 25 basis point reduction to 9.50%, as reported by Reuters. Analysts had unanimously predicted a 50 basis point cut. This unexpected move reflects the bank's cautious approach in

Canada Retail Sales Stalled in October, Likely Flat in November: Reuters

Canada's retail sales grew by a modest 0.6% in October, with a surge in new car purchases offsetting weaker consumer spending in key sectors like groceries and beverages, as reported by Reuters. However, preliminary data for November suggests retail sales likely remained flat, indicating a potential slowdown