Financial News
- James Hyerczyk
Tertiary industry defies expectations, with July 2023 showing a remarkable 2.7% year-on-year growth, indicating a robust recovery.
- Vladimir Zernov
Natural gas prices are moving lower after the release of the EIA report.
- James Hyerczyk
The U.S. PPI for August 2023 rose 0.7%, with 80% due to a 2.0% spike in final demand goods, driven by a 20.0% surge in gasoline prices.
- Bob Mason
Australian employment figures sent a vastly different signal to the July report. A steady unemployment rate could ease fears of a slump in consumption.
- Vladimir Zernov
Domestic oil production increased from 12.8 million bpd to 12.9 million bpd as producers reacted to higher prices.
- James Hyerczyk
The core CPI data revealed a rise of 0.3% for the month, higher than the 0.2% forecast.
- Bob Mason
The UK economy contracted by more than expected in July. A fall in service sector output raises the threat of a more marked contraction in August.
- James Hyerczyk
The German ZEW Index for September surpassed gloomy market anticipations, suggesting cautious optimism.
- Bob Mason
The US CPI Report for August is eyed as a key driver for potential Fed rate hikes, with the inflation narrative at the forefront.
- Bob Mason
Crypto regulatory chatter failed to spook investors this week. However, a lack of progress toward a crypto-Spot market remained a headwind.
- Bob Mason
SEC challenges Ripple in an evolving lawsuit; market eyes ruling’s potential impact on XRP.
- James Hyerczyk
August saw a 40,000 job increase but couldn’t keep up with a 103,000 population surge; employment rate hit 61.9% with steady 5.5% unemployment.
- Vladimir Zernov
The EIA report showed that U.S. was buying oil for the Strategic Petroleum Reserve despite rising oil prices.
- James Hyerczyk
Initial jobless claims fell to 216,000, a 13,000 drop; Q2 nonfarm productivity rose by 3.5%, signaling economic progress.
- Eiko Sievert
The risk of policy mistakes has increased as China’s authorities try to tackle financial imbalances, including high local government debt, while shifting towards a consumption-led growth model.
- Bob Mason
China trade figures failed to impress this morning. While imports and exports declined at a less marked pace, the threat of a global recession lingered.
- Vladimir Zernov
The report, which has easily exceeded analyst expectations, may provide additional support to U.S. dollar.
- James Hyerczyk
Eurostat estimates reveal a 0.2% decline in the euro area’s retail volume for July 2023, better than June but worse than forecast.
- Bob Mason
German factory orders reversed the unexpected surge in June. The latest report reflected weak demand across most economic sectors.
- James Hyerczyk
The Eurozone services sector, led by declines in France and Germany, contracted for the first time since December 2022.