Inflation Takes a Hit: Consumer Prices Decrease Significantly in June, Surpassing Expectations, Largest Drop in Six Years
Consumer Prices See Notable Decline in June Consumer prices experienced a significant drop in June, driven largely by relief at the gas pump and a marked decrease in inflation levels. According to the Labor Department’s report released Tuesday, the Consumer Price Index (CPI) decreased by 0.4% compared to May, marking the largest decline since 2020. […]
What is causing the decline of the New Zealand Dollar even as the Business NZ PSI increases in June?
New Zealand Dollar Update The NZD/USD pair is experiencing a downward trend, currently hovering around 0.5750 during Asian trading hours on Monday. While local economic indicators show some improvement, the New Zealand dollar is still struggling, lacking solid support to halt its decline. In June, New Zealand’s BusinessNZ Service Performance Index climbed to 50.6, recovering […]
Home sales in the US decline unexpectedly in June
Home Sales Decline as Prices and Rates Remain High In June, U.S. existing home sales unexpectedly dropped as home prices hit record highs and mortgage rates stayed elevated, keeping many potential buyers hesitant. According to the National Association of Realtors, sales fell by 2.4% last month, bringing the seasonally adjusted annual rate to 4.09 million […]
3,600 Jobs Disappeared in the Film and Sound Recording Sectors in June
Job Losses in Film and Recording Industry The film and recording sector experienced a decline of approximately 3,600 positions in June, as highlighted by a recent report from the U.S. Bureau of Labor Statistics. In the broader U.S. economy, only 57,000 jobs were added that month, primarily in fields like professional and business services, social […]
US ISM Services PMI drops to 54 in June
In June, the US services sector experienced a slowdown, with the ISM Services PMI dropping to 54.0 from 54.5 the month before, aligning with analysts’ predictions. The survey also revealed that the index for prices paid, a key inflation indicator, decreased from 71.3 to 67.7. On a positive note, the employment index increased from 47.9 […]
Changes to mail voting in California do not boost turnout for the June primary
California has wrapped up its official voting process for the June primary, though some, including former President Donald Trump, have expressed skepticism about the state’s long voting durations. The latest preliminary data puts statewide turnout at 40.8%. This marks an increase from 35% during the 2024 primary and 33.2% in 2022, according to the California […]
Jobless Rate Drops to 4.2% as Economy Gains 57,000 Jobs in June
Job Growth and Unemployment Rate Insights The latest data from the Labor Department shows that the economy added 57,000 jobs in June, and surprisingly, the unemployment rate dropped to 4.2%. This was unexpected, as many economists predicted the jobless rate would hold steady at 4.3%, with about 114,000 people estimated to be unemployed. Revisions from […]
Four Tons of Meth Captured in Four Inspections at Texas Border Crossings in June
Large Methamphetamine Seizures in Texas Customs and Border Protection (CBP) agents in Texas recently confiscated over 9,000 pounds of methamphetamine, valued at more than $80 million, during four separate incidents in June. These successes in stopping cartel smuggling attempts occurred in Laredo, El Paso, and Pharr. During the holiday on June 19, two significant raids […]
US ISM Manufacturing PMI fell to 53.3 in June
Data from the Institute for Supply Management (ISM) shows that the manufacturing PMI declined slightly in June, coming in at 53.3, which is lower than both May’s figure and analysts’ expectations of 54. In terms of inflation, the Price Payment Index for the sector fell from 82.1 to 73. The employment index saw a small […]
China’s Manufacturing PMI aligns with expectations in June: Implications of 51.7 for the Australian Dollar.
China’s PMI Data and Its Effect on the Australian Dollar China’s RatingDog Manufacturing Purchasing Managers Index (PMI) declined slightly to 51.7 in June, down from 51.8 in May, based on the figures released by RatingDog. The anticipated figure from the market was also 51.7. Interestingly, the Australian dollar (AUD) didn’t react much to this PMI […]