Financial News

Inflation showed further signs of cooling in June, according to the PCE gauge released Friday that the Federal Reserve follows closely.

Bank of Japan leaves monetary policy unchanged this morning, shifting the focus to the press conference, with YCC policy likely a hot topic.

High headline inflation will continue to decline in the 11 EU countries of Central and Eastern Europe (CEE-11) but tight monetary policy and weak external demand are muting the economic recovery.

SP500 tested yearly highs as the report showed that U.S. economy remained strong despite Fed’s rate hikes.

ECB responds to inflationary pressures with a 25 basis points rate hike, amid strategy targeting 2% medium-term inflation.

The German GfK Consumer Climate Indicator recovered July’s losses. However, the propensity to buy indicator will be a concern for the ECB.

Italy’s high public debt, elevated annual gross financing needs around 25% of GDP, and rising interest costs are a major rating constraint, underscoring need for multi-year fiscal consolidation.

The Fed remains committed to returning inflation to its 2% target.

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%.

CB Consumer Confidence rose to its highest level since July 2021 as consumers’ appraisal of the labor market improved.

U.S. home prices surge in May with all 20 major metro markets reporting gains for the third consecutive month of positive growth.

The euro area recession alarm bells are ringing. German business sentiment waned in July, pressuring the EUR/USD and the DAX.

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.

Germany’s economy contracts as manufacturing, services slump in July; HCOB Flash Germany Composite PMI Output Index Drops below 50.

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.

Big Tech giants Alphabet, Microsoft, and Amazon.com draw anticipation with focus on AI and cloud division performances.

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.

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.

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.

UK retail sales figures for June showed the resilience of UK consumers, with spending on the rise despite elevated inflation and interest rate levels.