Economy News

Major U.S. banks are grappling with significant financial losses due to rising unpaid debts. Bank of America, Citigroup, and Goldman Sachs have reported combined losses of $4.1 billion.

Analysts are sounding alarms about potential economic trouble ahead for the United States. Several key indicators that have historically predicted downturns are aligning, suggesting a recession may be looming.

In Milwaukee, former President Donald Trump accepted the Republican presidential nomination after a high-energy four-day event.

The Chinese yuan has recently strengthened against the US dollar, reaching its highest midpoint level for July.

On July 18, the European Central Bank (ECB) opted to keep its key interest rates unchanged, signaling a pause aimed at addressing persistent inflation concerns.

Traders bolstered the euro on Thursday amid signals from the European Central Bank (ECB) of cautious post-rate-cut plans, easing previous concerns over French political turmoil.

Investor optimism is currently buoyed by expectations of potential U.S. interest rate cuts, aiming to prevent a severe economic downturn, despite escalating geopolitical risks, according to the latest survey by Bank of America.