USA, China, and Turkey Economic Updates for April 26, 2024

🌟 Happy Friday, dear traders! We’re here to wrap up the week with highlights from today’s final trading session.

USA, China, and Turkey Economic Updates for April 26, 2024

Economic Updates from the USA, China, Turkey, and Gold Market Insights for April 26, 2024:

πŸ‡ΊπŸ‡Έ US economic growth tapered to 1.6%, falling short of projections, while core inflation surged to 3.7%, posing a challenge to the Federal Reserve’s quest for a gentle economic slowdown.

πŸ‡ͺπŸ‡Ί ECB Governing Council member Fabio Panetta cautioned that delayed interest rate cuts could compel the Eurozone to resort to ultra-low rates later, aiming to avert economic stagnation and plummeting inflation expectations.

πŸ‡¨πŸ‡³ Hong Kong’s Chinese stocks surged, propelling the HK50 index up by 2.20% today, driven by optimism surrounding a reported $278 billion government stimulus package geared towards stabilizing the economy.

πŸ‡―πŸ‡΅ The yen plummeted to a fresh 34-year low as the Bank of Japan held its key interest rate steady despite persistent concerns about the currency’s rapid depreciation.

πŸ‘€ Google’s parent company unveiled its inaugural dividend and exceeded sales and profit forecasts, triggering a notable uptick in share prices. Google (#GOOGLE) shares dipped by 1.97%.

➑️ Microsoft outperformed Wall Street expectations, propelled by significant returns from AI investments in its cloud services. Microsoft’s stock (#MICROSOFT) experienced a 2.45% decline today.

β˜„οΈ Gold prices saw a modest increase following weak US economic data, with investors eagerly anticipating further insights from upcoming PCE inflation figures.

πŸ‡ΉπŸ‡· The Central Bank of Turkey opted to maintain its key interest rate at 50%, committing to uphold its stringent monetary policy until inflation undergoes a substantial and sustained decrease.

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