Financial News
- Bob Mason
Australian inflation numbers for Q2 ended speculation of further RBA interest rate hikes, with the annual inflation rate softening from 7.0% to 6.0%.
- Vladimir Zernov
CB Consumer Confidence rose to its highest level since July 2021 as consumers’ appraisal of the labor market improved.
- James Hyerczyk
U.S. home prices surge in May with all 20 major metro markets reporting gains for the third consecutive month of positive growth.
- Bob Mason
The euro area recession alarm bells are ringing. German business sentiment waned in July, pressuring the EUR/USD and the DAX.
- Vladimir Zernov
The report indicated that the overall rate of output growth was consistent with GDP expanding at approximately 1.5% at the start of the third quarter.
- James Hyerczyk
Germany’s economy contracts as manufacturing, services slump in July; HCOB Flash Germany Composite PMI Output Index Drops below 50.
- Bob Mason
It was a busy start to the day for the USD/JPY, with flash PMI numbers from Japan in focus. However, the US services PMI should have the final say.
- James Hyerczyk
Big Tech giants Alphabet, Microsoft, and Amazon.com draw anticipation with focus on AI and cloud division performances.
- Bob Mason
The week ahead is a busy one, with central banks, prelim private sector PMIs, and inflation numbers to draw investor interest. It will be a choppy week.
- Bob Mason
It was a busy week for the crypto market, with SEC and US lawmakers grabbing the headlines as the markets consider the post-ruling outlook.
- Thomas Gillet
A curtailed currency devaluation and slow privatisations cloud the outlook for stabilising Egypt’s external finances. Meeting IMF conditions is critical for shoring up reserves and investor confidence.
- Bob Mason
UK retail sales figures for June showed the resilience of UK consumers, with spending on the rise despite elevated inflation and interest rate levels.
- Bob Mason
Japan inflation moved in the wrong direction for the Bank of Japan this morning. After revised numbers from the government, the BoJ is in the spotlight.
- Vladimir Zernov
The National Association of Realtors believes that pent-up demand will be realized soon.
- James Hyerczyk
Latest data reveals a slight improvement in the labor market as initial claims decrease, offering relief amid economic challenges.
- Dr. Giacomo BarisoneSovereign Mid-year 2023 Outlook: Negative Rating Outlook Framed by Slowdown, High Debt, Rising Rates
Scope Ratings has revised up its 2023 global growth forecast modestly to 2.9% but has cut its 2024 forecast to 3%. More downside rating actions than upside are expected in the second half of this year.
- Bob Mason
German producer prices fell by less than expected in June. However, the decline continued to reflect a weak demand environment for German producers.
- Vladimir Zernov
Oil markets moved lower as traders focused on the lower-than-expected inventory draw.
- James Hyerczyk
Mixed signals in June housing market: decline in permits, modest increase in single-family authorizations, notable decline in housing starts.
- Bob Mason
UK inflation eased to 7.9% in June, with a sharper decline in motor fuel prices being the largest contributor. The numbers should provide some BoE relief.
