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MarketPulse - The Beat of the Global Markets - Economy
9 | Follower
Australia inflation gauge hits 20-month high, aussie gains ground
Australia's MI inflation guage climbed 0.9% in July, up sharply from 0.1% in June. The RBA is widely expected to cut rates on Aug. 12 as inflation has been contained. US nonfarm payrolls were weaker than expected, as the cracks in the labor market appear to be wider than previously expected.
Japanese yen soars on weak US jobs report
The US employment report was weaker than expected and has raised concerns about the strength of the labor market. Job growth in July was 73 thousand, well short of the estimate of 110 thousand. As well, the May and June figures were revised sharply downwards. The BoJ releases the minutes of its June meeting on Tuesday.
WTI Crude Forecast: Risk premium fades, supply pressures mount, bearish trend ahead
WTI crude oil prices drop 18% from June highs as geopolitical risks ease. Rising US inventories, possible Russian oil sanction cuts, and OPEC+ hikes signal further downside, with bearish technicals pointing to lower levels.
New Zealand's unemploymet rises to 4½-year high, kiwi pushes higher
New Zealand published a soft jobs report for Q2. Job growth declined by 0.1% and unemployment rate ticked up to 5.2%, the highest since 2020. We'll hear from three FOMC members later today, with investors hoping for some insights about the Fed rate path.
US dollar volatility, ISM US Services PMI, BoE, Japan’s household spending, wages & China’s CPI are this week’s key focuses
Stay updated on key market drivers this week, including US dollar volatility, ISM US Services PMI, Bank of England policy, Japan’s household spending and wages, and China’s CPI data.
Swiss inflation unchanged, Swiss franc extends gains
Swiss inflation was flat in July, down from 0.2% a month earlier. If inflation continues to drop, the SNB could push interest rates into negative territory. US nonfarm payrolls came in at 73 thousand, lower than expected, and the May and June reports were revised sharply lower. This points to widening cracks in the US labour market.
Hang Seng Index Forecast: New bullish leg supported by southbound flows and improvement in China services activities
Discover the latest outlook on the Hong Kong 33 Index amid rising southbound fund inflows and improved China services data. Key support at 24,290 for a bullish move towards 26,200 and 27,500.
Eurozone, US services PMI lower than expected
Services activity remains weak in both the eurozone and the US. Eurozone Services PMI rose slightly in July to 51.0, up from 50.5 in June. In the US, the ISM Services PMI softened to 50.1, down from 50.8 in June. This points to stagnation in the services sector.