Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

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The main events by the morning: October 23


October, 23 2024
watermark Economic news

  • Argentina abolished the tax service, replacing it with a «simplified» Agency for Fees and Customs Control. As part of this reform, the number of employees of the service was reduced by a third. The authorities claim that this will free citizens from unnecessary bureaucracy and control. Meanwhile, inflation in the country exceeded 200% by the end of 2023.


  • The American McDonald's chain has been at the center of a scandal after an outbreak of poisoning caused by E. coli. According to CNBC, the US Department of Health has already recorded 49 cases of infections, of which at least 10 people have been hospitalized and one person has died. The incidents occurred from September 27 to October 11 in several states. Against this background, the company's shares fell by 6-8% yesterday after the end of the main trading.


  • Russia has become the fourth largest economy in the world in terms of purchasing power parity (PPP). According to a new IMF report, Russia's share of global GDP by PPP in 2024 reached 3.55%, which allowed it to overtake Japan with its 3.38%. The IMF also revised the forecast of Russian GDP growth for 2025, increasing it from 1.3% to 1.5%.


  • Donald Trump has filed a complaint against the British Labour Party for interfering in the US presidential election. According to Politico, this happened after one of the party's representatives stated that they had sent almost 100 of their members to «swing» states to support the Democrats. Trump's lawyer demanded that the Federal Election Commission launch an investigation.


  • The state of Texas has filed a lawsuit against President Joe Biden. State Attorney General Ken Paxton has requested proof of citizenship for 450,000 registered voters suspected of being illegal migrants. The presidential administration did not respond to the request, which became the reason for the lawsuit.

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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.