On June 6, 2024, the European Central Bank (ECB) held a significant meeting where it decided to cut interest rates for the first time since 2019.
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On June 6, 2024, the Bank of Canada (BoC) announced a reduction in its benchmark interest rate by 25 basis points, bringing the rate down to 4.75%.
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The 2024 presidential elections in Mexico had a significant impact on the Mexican peso, causing notable fluctuations in its value.
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In May, the services sector saw its quickest expansion in ten months, fueled by strong new business inflows and a significant rise in employment.
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The US manufacturing sector faced continued challenges in May 2024, as indicated by the latest ISM Manufacturing PMI report.
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On June 2, 2024, the OPEC+ alliance made a significant decision to extend its current production cuts through the end of 2025 during its meeting.
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The Personal Consumption Expenditures (PCE) price index for April, which is the Federal Reserve's preferred gauge for inflation, indicated the slowest monthly core growth of the year.
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China's official PMI Manufacturing index experienced a contraction, falling from 50.4 to 49.5 in May, which was below the anticipated 50.5.
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The US economy exhibited modest growth in the first quarter of 2024, with the real Gross Domestic Product (GDP) increasing at an annual rate of 1.3%.
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