The European Central Bank (ECB) decided at its meeting earlier today, Thursday, June 11, to raise interest rates by 25 basis points, as expected, to 2.40%. This follows seven meetings where the rate was held steady at 2.15%. The ECB also lowered the deposit rate to 2.25% and the lending facility rate to 2.65%. In its policy statement, the ECB...
The Bank of Canada kept its target overnight interest rate unchanged at 2.25%, as expected, for the fifth consecutive meeting, announced earlier today, Wednesday, June 10. The bank also maintained the interest rate on banks at 2.50% and the interest rate on deposits at 2.20%. The bank's report stated that the war in the Middle East is entering its fourth...
Data released moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), which measures inflation, rose 0.5% in May, compared to 0.6% in April, matching market expectations. The core CPI, which excludes food and energy prices, rose 0.2%, compared to 0.4% in April (expected at 0.3%). Meanwhile, the year-over-year CPI rose to 4.2%, compared...
Data released by China's National Bureau of Statistics on Wednesday, June 10, showed that the annual consumer price index (CPI), a key measure of inflation, rose in May at 1.2% year-on-year, unchanged from April. This figure fell short of market expectations of 1.3% growth. Wholesale prices rose at their fastest pace in four years, driven by higher raw material costs...
Crude oil prices rose more than 4% in midday trading on Monday, June 8, the opening session of the week, amid escalating tensions in the Middle East following Israeli attacks on Lebanon over the weekend. Market concerns grew about a potential continuation of the conflict, diminished expectations of a deal between Washington and Tehran, and the continued closure of the...
The US Bureau of Labor Statistics released a report moments ago showing that total non-farm payrolls (NFP) increased by 172,000 in May, compared to 115,000 in April. This exceeded expectations of an additional 85,000 jobs. Meanwhile, the unemployment rate remained unchanged at 4.3% in April, matching forecasts, while the labor force participation rate held steady at 61.8%. Earnings rose by...
The US private sector added approximately 122,000 jobs in May, according to figures released moments ago by ADP, following the addition of approximately 108,000 jobs in April. This exceeded expectations, which had predicted the addition of 118,000 jobs. Wages also rose by 4.4% year-over-year. In detail, the goods-producing sector added 8,000 jobs, with the construction sector adding approximately 8,000 jobs...
Eurostat, the European Union's statistical office, released figures moments ago showing that annual inflation in the Eurozone rose to 3.2% in May, up from 3.0% in April, matching market expectations. The largest contributor to inflation in May was the energy sector, which jumped 10.9% after growing 10.8% in April. Services rose 3.5% from 3.0% in April, while the food, alcoholic...
New orders for durable goods rose in April, according to a report released moments ago by the US Census Bureau. The increase reached $346 billion, a rise of 7.9%, compared to a revised 1.3% increase in March. Expectations had been for 4% growth. Meanwhile, core orders, excluding transportation, rose 1.1% in April, compared to a 0.9% increase in March (expectations...
Data released by Statistics Canada moments ago showed a 0.9% increase in retail sales in March, reaching $72.7 billion, following a 0.7% rise in February. This better-than-expected figure was driven by increased sales at gas stations. Core retail sales, which exclude gas stations and auto and parts dealers, fell 0.1% in March. The sales increase in August was supported by...