Today’s Global Economy updates from US, Amazon, and Japan

โ˜€๏ธ Happy Wednesday, traders! It’s May 1st, and here’s a quick update on todayโ€™s key market developments:

Today's Global Economy updates from US, Amazon, and Japan

Global Economy updates include US, China, Amazon, and Japan for May 1, 2024:


๐Ÿ›’Amazon is witnessing growth fueled by its AI initiatives, which are significantly boosting its cloud business. However, despite this progress, Amazon shares have fallen by 3.29%.

๐ŸŒ Emerging markets are confronting increasing interest rates due to shifting expectations. This may lead countries like Turkey and South Africa to consider tightening their monetary policies.

๐Ÿ“‰ Wall Street ended April shakily with rising labor costs and falling consumer confidence. Concerns grew over sustained high U.S. Federal Reserve rates. This turbulence fueled market worries.

๐Ÿ‡ฏ๐Ÿ‡ต Japan may have intervened in the currency market, initiating a ยฅ5.5 trillion effort to prop up the yen, marking its first such move since 2022.

๐Ÿ‡ธ๐Ÿ‡ฆ Saudi Arabiaโ€™s economy saw a smaller contraction of 1.8% in Q1 2024, an improvement from a previous 4.3% decline, helped by less severe oil production cuts.

๐Ÿ‡จ๐Ÿ‡ณ China’s factory activity continued its growth streak into April, indicating a consistent economic rebound.

๐Ÿš— Tesla is scaling back its Supercharger team, possibly slowing down the expansion of its critical charging network, amid wider layoffs. Tesla shares dropped by 5.49%.

โšก๏ธ Gold prices fell below $2,300 as a tougher Federal Reserve outlook lessened its attractiveness, amidst a decrease in safe-haven demand.

Stay tuned with Guriforex for more updates and insights on these evolving market conditions!

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