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More information in our economic calendarHotter Inflation Cloud BOE Rate Cut Outlook The inflation report followed the weak-to-adampted GDP numbers, which had speculated about the BOE rate cut. In particular, the UK economy expanded 0.5% in May in three months, below 0.7% in April. Meanwhile, the economy contracted up to 0.1% on a monthly basis,…
Food prices posted an increase of 0.3%, which is inspired by high costs for beverages (+1.4%) and fruits and vegetables (+0.9%). Egg prices declined by 7.4%, although beef saw a growth of 2.0%. The food index increased to 3.0% year-on-year in total, with the food away from home to 3.8%, which constantly exposes service inflation….
China’s export growth defies tariffs, but new American levy takes new risks on transmission. Hang Seng and Aud/USD responded as traders weigh China’s export benefits against the US cracks.
Considering the current inflation level and the GDP number of May, a weakening in the labor market can promote bet on a BOE policy move. BOE kept interest rates at 4.25% in June, six monetary policy committee members voted in favor of leaving the rates unchanged. Nevertheless, concern about the inflation of services may see…
Insured unemployment climbs the highest since 2021 The insured unemployment depicts claims of ongoing benefits, increased from 10,000 to 1,965,000 for the week ending June 28, the highest since November 2021. The insured unemployment rate remained stable at 1.3%. The average of four weeks for the insured unemployment also increased to 3,500 to 1,955,250. Traders…
Gasoline inventions fell by 2.7 million barrels from last week.
If the quarterly CPI shows inflation falling in the middle of the band over time, the RBA may cut interest rates in the next meeting. We have the opportunity to cut rates carefully and slowly to cut rates as the RBA did not increase rates at the levels to be seen elsewhere. RBA can cut…
Regional weakness and income increase is slow Regionally, Midwest and Western America recorded the biggest decline of 24,000 and below 20,000 respectively, while South added 13,000 jobs, the only area to see net profit. Small businesses were most difficult, with 29,000 roles under 20 employees with losing firms, while large businesses with more than 500…
The new order index increased from 46.4 in May to 51.3 in June, while the employment index declined from 50.7 to 47.2. Today, traders also had a chance to take a look at the factory order report for May. The report indicated that the orders of the factory in accordance with the analyst expectations increased…
Currently assigned scope sovereign ratings defined by ratings. Source: IMF, scope rating forecast.There is an increase in military expenses to be quite different in Europe Importantly, the government debt forecast of scope rating is based on different rates of increase in defense spending. Governments of Central and Eastern Europe are expected to increase their efforts,…
More than the analyst’s expectations, Jolts Jobs Opening increased to 7.769 million.
In particular, the contract of manufacturing continued, mainly due to the influence of American tariffs. Demand and industry trends of manufacturing sector CN Wire revealed important trends in June PMI survey: Manufacturing production as demand for demand improved 0.3 percentage (PPS) to 51.0%. The new order index rose 0.4 pPS to 50.2, which is above…
For a long time, the Iran-Israeli crisis may increase the risk of nuclear proliferation of the Middle East and beyond. The crisis can rapidly increase regional military expenditure, as members of NATO themselves have agreed to increase defense spending up to 5% of GDP – more than double the previous target of 2%. Such increased…
Personal income declines, spending slows Personal income fell 0.4% in May after an increase of 0.7% in April, a decline of $ 109.6 billion. Disposable personal income has declined by 0.6%, which reflects high tax burden and slow wage hike. Meanwhile, individual consumption expenditure declined by 0.1%, a fall of $ 29.3 billion to indicate…
The expectations of year-on-year inflation declined from 6.6% to 5.0% in May.