Financial News

Nvidia’s Q2 earnings excel with data center growth at 171% annually, anticipating a bullish Q3 revenue of $16 billion.

Oil traders focus on recession risks after the release of weak Manufacturing PMI reports.

Composite PMI moved closer to the contraction territory as activity teetered near stagnation across the private sector.

UK private sector’s growth halted in August due to borrowing costs, with S&P Index showing contraction and high rates curbing inflation.

In August, German business activity hit a three-year low, with the HCOB PMI Index plummeting to 44.7, signaling a worsening economic slump.

Rising mortgage rates and limited inventory availability put pressure on the housing market.

June 2023: Euro area’s surplus hit €36 billion, residents disinvested €153 billion, and Eurosystem reserves declined.

Amidst high inflation, the German economy shows marginal growth as the ECB targets a 2% medium-term through tightened monetary policy.

German producer prices delivered more bad news, with the more marked decline in prices supporting the negative sentiment toward the German economy.

Amid declining UK house prices and wage growth uncertainties, the British Pound navigates a volatile trading landscape against the USD.

It is a big week ahead for the global financial markets. Private sector PMIs and Fed Chair Powell could green light a September Fed rate hike.

Japan inflation numbers drew interest this morning. After the latest government forecasts, the July numbers will further test the theory of ultra-loose.

The report did not have a strong impact on natural gas price dynamics, so traders will stay focused on the changes in weather forecasts.

Weekly Jobless claims dropped by 11,000, the 4-week average rose slightly to 234,250, with claims at 1,834,497, surpassing 2022 levels.

Scope Ratings senior writer Keith Mullin interviews Dennis Shen, lead analyst for Greece, after Scope Ratings’ upgrade of Greece to an investment-grade (IG) rating of BBB-.

Australian employment figures delivered a gloomy picture, easing the prospects of an RBA rate hike after the softer-than expected wage growth numbers.

Oil markets remain under pressure as traders stay focused on China’s economic problems.

In July, building permits declined 13% from 2022, while housing starts surged 6.7% from June.

The UK annual inflation rate softened from 7.9% to 6.8% in July, a pivotal metric that could influence the Bank of England’s monetary policy expectations.

The index has pulled back from yearly highs as builder confidence retreated in August.