New orders for durable goods fell $32.1 billion, or 9.3%, in June, according to a report released by the U.S. Census Bureau just released. This decline was better than market expectations of a 10.4% decline. Core orders, excluding transportation orders, rose 0.2% in June, compared to a 0.6% increase in May (expectations of 0.1%). In detail, new orders excluding defense...
Asian markets closed lower on Friday, July 25, the final trading session of the week. Japanese indices retreated after gains of more than 4% during the week following the Washington-Tokyo trade agreement. In economic data released this morning, figures from Japan showed that core inflation in Tokyo, which excludes volatile fresh food prices, slowed to 2.9% in July, following a...
UK retail sales rose by 0.9% in June, compared to a revised 2.8% decline in May, down from a 2.7% decline. Expectations were for a 1.2% increase. Sales rose by 0.2% quarter-on-quarter in the second quarter ending in June and by 1.7% over the year to June. In detail, grocery store sales rose by 0.7% after a 5.4% decline in...
The European Central Bank decided at its meeting moments ago today, Thursday, July 24, to keep its three main interest rates unchanged. The deposit rate was kept at 2%, the main refinancing operation at 2.15%, and the lending facility at 2.40%, following seven consecutive rate cuts. The bank's interest rate statement stated that inflation remained at the 2% target, domestic...
Gold is trading lower for the second consecutive session in mid-European trading today, Thursday, July 24, as risk appetite in the markets increases and demand for safe havens declines following the Washington-Tokyo agreement. Some optimism surrounding a deal with the European Union before the August 1 deadline has supported the US dollar's gains. The yellow metal is trading down about...
Data released moments ago at the start of the European session today, Thursday, July 24, showed improvements in most services and manufacturing Purchasing Managers' Indices (PMIs) in the eurozone and the United Kingdom in the preliminary reading for July. The Eurozone Services PMI rose to a six-month high of 51.2 in May, compared to a revised 50.5 in June (expectations:...
Crude oil prices fell for the fourth consecutive session at the start of European trading today, Wednesday, July 23, after absorbing the trade agreement between Japan and the United States, amid anticipation of official inventory figures from the US Energy Information Administration. US crude (NYMEX) fell by approximately 0.78%, trading at $64.80 per barrel, while Brent crude traded at $68.10...
Asian markets posted collective gains at the close of trading on Wednesday, July 23, as concerns over tariffs eased after the United States announced an agreement with Japan, Indonesia, and the Philippines. Japan's Nikkei index recorded its highest daily closing level since July of last year, supported by gains in the auto sector and ignoring reports that Japanese Prime Minister...
Major US stock indices are trading mixed at the opening of trading today, Tuesday, July 22, as companies continue to announce their quarterly results and anticipate US trade talks as the August 1 deadline for an agreement approaches. The S&P 500 and Nasdaq hit new record highs yesterday, Monday, with no US economic indicators during today's session, except for statements...
Gold is trading higher by more than 1% at the start of the US session today, Monday, July 21, the opening session of the week, affected by the decline in the US dollar amid monitoring of developments in tariffs as the deadline approaches and the absence of economic figures during today's session. The yellow metal is trading up by about...