Financial News

Powell’s testimony may leave markets in a holding pattern, stressing patience in monetary policy as the Fed seeks more economic data to guide choices.

US inflation data and Fed Chair Powell’s testimony this week could cement bets on a September rate cut. Will there be any surprise central bank moves?

Unemployment Rate increased from 4% in May to 4.1% in June.

The Labour Party won a landslide victory in Thursday’s UK general elections but long-run challenges will endure, including dealing with rising debt and reviving the economy while hitting fiscal targets.

Eurozone retail sales and US Jobs Report set to influence market trends and ECB and Fed rate expectations after more weak stats from Germany.

France’s planned consolidation of its public finances risks being deferred, considering the likely outcomes of legislative elections, with consequences for the EU policy agenda and, potentially, investor sentiment.

Higher-for-longer rates heighten the stakes for sovereign debt sustainability especially as financial-market and institutional checks on the borrowing of rich countries are weaker than they were several years ago.

German factory orders slide by 1.6% in May, missing forecasts amid sectoral challenges. The EUR/USD reacted cautiously to German factory order data.

Gasoline inventories decreased by 2.2 million barrels from the previous week.

Lower business activity, contraction in new orders, and continued contraction in employment pushed the ISM Services PMI index into the contraction territory.

Private payroll growth slows to 150,000 jobs in June, down from 157,000 in May, indicating a cooling labor market.

Earlier, Fed Chair Powell noted that prices were showing disinflation trend.

The latest inflation and employment data for the eurozone indicate a slight easing of price pressures overall, but persistent core inflation.

The manufacturing sector contracted for the third consecutive month.

While elections in Europe are in focus, the Bank of Japan and the RBA will also be in the spotlight as investors consider possible rate hikes in Q3 2024.

Ethereum price reclaimed the $3,400 level on June 29, as Bloomberg analysts highlight the possible launch date for ETH spot ETFs next week

Crypto’s political stance solidifies with Donald Trump emerging as the favored candidate, signaling a unified front against regulatory challenges in the US.

Core PCE eased from 2.8% in April to 2.6% in May, indicating progress in inflation control, but still above the Fed’s 2% target.

UK economy shows resilience in Q1 2024, with 0.7% GDP Growth; Services sector growth could be a headache for the Bank of England.

Q1 GDP growth slows to 1.4%, unemployment claims drop but insured unemployment rises, durable goods orders increase for fourth straight month.