Financial News

Shelter drove 90% of inflation, while excluding food and energy, rates grew 0.2%; the all-items index rose 3.2% annually, signaling bullish trends.

Oil prices test new highs as traders focus on the new buyer in a tight market.

China inflation figures sent mixed signals this morning. While consumer prices rose by more than expected, the producer price index signaled weak demand.

The report showed that recession fears waned but inflation concerns revived.

In June 2023, the U.S. trade deficit narrowed as imports fell more than exports, reducing the goods deficit by $2.8 billion.

China exports and imports tumbled in July, reflecting weak demand and aligning with the Caixin Manufacturing PMI. Beijing stimulus chatter could resurface.

Eurozone’s Sentix index rises 3.6 points, halting decline; Germany’s index falls for fourth month, hitting -30.7 points.

The week ahead will be another tricky one for investors. While the US CPI Report will impact, stats from the UK, Germany, and China also need consideration.

Treasury yields declined as U.S. economy’s job growth missed analyst estimates.

In July, the US economy’s job growth fell short of expectations, though average hourly earnings rose as unemployment dipped.

According to the report, the majority of respondents stay cautiously optimistic about business conditions and the overall economy.

The MPC hiked the Bank Rate to 5.25%, signaling their commitment to maintain price stability amid rising inflation.

Germany’s trade report showed a modest increase in exports and a marked decline in imports in June, reflecting the weak demand environment.

It was a busy morning for the markets, with service sector activity in focus. However, the China Caixin Services PMI surprised the markets.

Scope Ratings has never rated the United States AAA. Ever since the agency published AA ratings on the US in September of 2017, Scope has never rated the borrower higher than this level.

Oil markets are moving lower as traders take some profits off the table after the recent rally.

The US private sector witnessed a remarkable surge in job numbers during July, with a staggering 324,000 jobs created, exceeding all expectations.

The report indicated that U.S. manufacturing sector remained under pressure.

The headline HCOB Germany Manufacturing PMI® falls to 38.8 in July, marking the lowest reading since May 2020.

The all-important China Caixin Manufacturing PMI unexpectedly fell to below 50, marking a sector contraction. Weak domestic and overseas demand weighed.