Preliminary estimates from the UK Office for National Statistics showed that UK GDP registered zero growth in July, following a 0.4% growth in June, matching expectations. Growth was 0.2% in the three months ending in July compared to the three months ending in April. The services sector, which accounts for more than 70% of the UK economy, grew by 0.3%...
Data released just moments ago from the U.S. Bureau of Labor Statistics showed that the Consumer Price Index (CPI), a measure of inflation, rose by 0.4% in August after a 0.2% increase in July, exceeding expectations of a 0.3% increase. The core CPI, which excludes food and energy prices, rose by 0.3%, unchanged from the July reading, matching expectations. Conversely,...
The European Central Bank decided, at its meeting moments ago today, Thursday, September 11, to keep its three main interest rates unchanged. The deposit rate was kept at 2%, the main refinancing operations at 2.15%, and the lending facility at 2.40% for the second consecutive month after seven consecutive rate cuts. The bank's interest rate statement stated that inflation is...
The three major US stock indices are mixed at the opening of trading on Wednesday, September 10, after record closes on Tuesday. The Dow Jones Industrial Average declined, while the S&P 500 and Nasdaq rose, supported by the technology sector. Markets are awaiting US inflation figures on Thursday, with market bets on a September interest rate cut rising. Market expectations...
Data from China's National Bureau of Statistics showed early Wednesday, September 10, that the annual consumer price index (CPI), a measure of inflation, fell to -0.4% in August after showing no growth in July. Expectations were for a -0.2% decline. A 4.3% drop in food prices led the decline in August inflation, compared to a 2.7% decline in July. Conversely,...
Cryptocurrencies are trading higher in mid-trading on Tuesday, September 9, as Bitcoin rises for the third consecutive session with a rise in market value. Expectations of a US interest rate cut support the rise of cryptocurrencies amid anticipation of US inflation figures. Market expectations for a US interest rate cut have risen following the employment figures released at the end...
Gold continues to hit new record highs, trading above $3,600 per ounce in mid-European trading today, Monday, August 8, the opening session of the week. Weak US employment figures supported a further interest rate cut by the Federal Reserve next week, amid market anticipation of inflation figures. The yellow metal is trading up about 0.86% at $3,617 per ounce, while...
Crude oil prices rose more than 1% at the start of trading in the European session today, Monday, September 8, the opening session of the week, following OPEC+'s decision to increase production less than expected over the weekend. This supported crude oil markets, in addition to rising geopolitical tensions related to Ukraine and Russia following Russia's attacks on Ukraine and...
Asian markets closed with collective gains at the end of trading on Monday, September 8, the opening session of the week. Japanese indices rose as investors assessed the announcement of the Japanese Prime Minister's resignation, the decline of the yen, and focus on potential successors to Ishiba. Chinese exports fell short of expectations amid ongoing trade concerns. Just one year...
The report released by the US Bureau of Labor Statistics just moments ago showed that the US economy added only 22,000 jobs in August, compared to 73,000 in July, which was revised upward to 79,000, falling short of market expectations of 75,000 jobs. Conversely, the unemployment rate rose 0.01% in August to 4.3%, compared to 4.2% in July, matching expectations,...