Financial News
- James Hyerczyk
Ifo report highlights a deteriorating business climate in Germany, with the index falling to 88.5 from May’s 91.7 reading.
- Bob Mason
It is another busy week ahead, with central bankers in focus. However, US inflation numbers will have the final say on Friday.
- Bob Mason
It has been a bullish week for the crypto market. ETF news delivered a breakout week while hawkish Fed chatter weighed on the NASDAQ Composite.
- Vladimir Zernov
The economy’s dependence on services increased as the Services PMI report indicated a solid expansion in output in June.
- James Hyerczyk
Eurozone PMI data shows contrasting sector performance, with manufacturing at multi-month lows and declining output contributing to a bearish outlook.
- Bob Mason
UK retail sales unexpectedly rose in May, with warmer weather driving spending on outdoor-related goods. However, PMI numbers are up next.
- Bob Mason
Japan core inflation numbers were hotter-than-expected in May, which could force the BoJ to tweak its Yield Curve Control Policy at the next meeting.
- Vladimir Zernov
Powell’s hawkish comments and the aggressive rate hike from the BoE put pressure on the oil markets.
- James Hyerczyk
Jobless claims at highest since October 2021, signaling cooling labor market.
- James Hyerczyk
The Bank of England raised its benchmark rate to 5% amid inflation concerns; UK economy faces challenges, but traders expect further hikes.
- Thomas Gillet
Turkish President Erdoğan has begun his new five-year term with unresolved economic challenges. Downside risks remain for the country’s credit ratings without a sustained change in economic governance.
- Bob Mason
New Zealand trade data drew interest this morning. While the trade deficit widened, exports to China and the US provided comfort.
- Vladimir Zernov
Major indices and precious metals are under pressure as traders bet that interest rates will stay high until the end of the year.
- James Hyerczyk
Retail sales rose by 1.1% and Core retail sale increased by 1.5% in April.
- Bob Mason
UK inflation figures for May just complicate the Bank of England’s Monetary Policy Committee meeting and put the UK economy at risk of a recession.
- James Hyerczyk
May data demonstrates positive growth in building permits, housing starts, and completions, boosting the real estate market with encouraging signs.
- Bob Mason
German producer prices fell sharply in May. Significantly, producer prices increased at their least marked pace since January 2021.
- Bob Mason
This morning, the RBA meeting minutes revealed a finely balanced June interest rate decision, raising expectations of an end to the tightening cycle.
- James Hyerczyk
The NAHB said US homebuilder confidence reached its highest level in a year, driven by solid demand and improved supply chains.
- Bob Mason
It is a busy week ahead, with prelim private sector numbers for June in focus. However, central banks will also be in the spotlight.