简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:The latest S&P Global US Manufacturing PMI for June 2024 has been revised to 51.6, slightly lower than the expectation of 51.7 but up from 51.3 in May. In its most recent decision in June, the Bank of Canada (BoC) reduced its key interest rate by 25 basis points, lowering it from 5% to 4.75% in response to easing inflation indicators. In the first quarter of 2024, the US economy expanded at an annualized rate of 1.4%, slightly surpassing market expectations of 1.3%. This growth marked a...
The Week Ahead: Week of 22July(GMT+2)
Fed Rate Cut Locked In? All Eyes on PCE!
Wednesday, 24 July2024, 15:45
US Manufacturing PMI (Jul)
The latest S&P Global US Manufacturing PMI for June 2024 has been revised to 51.6, slightly lower than the expectation of 51.7 but up from 51.3 in May. This indicates an improvement in manufacturing business conditions for the second consecutive month, driven by increased new orders and rising output. The data reflects growing domestic demand and a modest rise in export orders. However, the increase in production is accompanied by higher input costs, leading to higher selling prices, which adds to inflationary pressures in the economy. The upcoming data should continue to reflect moderate growth given the current trends in new orders continue to hold steady.
Wednesday, 24 July 2024, 15:45
BoC Interest Rate Decision
In its most recent decision in June, the Bank of Canada (BoC) reduced its key interest rate by 25 basis points, lowering it from 5% to 4.75% in response to easing inflation indicators. Recent CPI figures reveal that Canada's annual inflation rate dropped from 2.9% in May to 2.7%, indicating that previous rate hikes successfully mitigated inflationary pressures. With inflation easing, there is speculation that the BoC might opt for another rate cut in its next decision.
Thursday, 25 July 2024, 14:30
US GDP (QoQ) (Q2)
In the first quarter of 2024, the US economy expanded at an annualized rate of 1.4%, slightly surpassing market expectations of 1.3%. This growth marked a notable slowdown compared to the 3.4% growth recorded in the fourth quarter of 2023. The deceleration was primarily driven by declines in consumer spending, inventory investment, and federal government expenditures. However, there were positive contributions from housing investment, business spending, and state and local government outlays. Imports, which detract from GDP, increased during this period. The upcoming data may potentially show some improvement, however persistent inflationary pressures, elevated interest rates, and potential reductions in government spending could weigh.
Friday, 26 July 2024, 14:30
Core PCE Price Index (YoY) (Jun)
The most recent Core Personal Consumption Expenditures (PCE) Price Index for May 2024 reported a year-over-year increase of 2.6%, in line with expectations but slightly lower than the previous month's 2.8%. This indicates a gradual easing of inflationary pressures, consistent with broader signs of slowing price growth in the economy. This trend offers some comfort to policymakers and markets where inflation is under control. The upcoming data is anticipated to remain stable unless there are substantial changes in economic conditions
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
The latest data for the U.S. ISM Manufacturing PMI, released on August 1, 2024, shows a decline to 46.8, down from 48.5 in June. This marks the sixth consecutive month of contraction (a reading below 50) and remains well below the historical average of 52.88. On July, the Bank of Canada (BoC) announced a 25-basis-point cut in its benchmark interest rate, reducing it to 4.5%. This was the second consecutive rate cut, following a similar move in June. The latest ADP Nonfarm Employment Change for..
The U.S. Conference Board Consumer Confidence Index rose to 100.3 in July 2024, up from a revised 97.8 in June. For Q2 2024, the U.S. GDP grew at an annualized rate of 2.8% in a preliminary reading, a notable increase from the 1.4% growth in Q1 2024. The Eurozone's annual Consumer Price Index (CPI) rose to 2.6% in July 2024, up from 2.5% in June. This slight increase was driven mainly by a jump in energy prices, which rose by 1.3% compared to 0.2% in the previous month. The US Core PCE which...
The U.S Producer Price Index (PPI) for June showed a month-over-month increase of 0.2%, which was slightly above market expectations of 0.1%. The Reserve Bank of New Zealand (RBNZ) recently kept its Official Cash Rate (OCR) unchanged at 5.50% during its last meeting on July 2024, which was consistent with market expectations. As of June 2024, the U.S. Consumer Price Index (CPI) showed a modest increase of 3.0% year-over-year, weaker than market expectation and previous reading of 3.1% and 3.3%..
Federal Reserve Chair Jerome Powell indicated that recent U.S. economic data suggest inflation is returning to a downward trajectory. However, he emphasised the need for more evidence before the Fed considers shifting its current monetary policy. Consequently, the dollar eased from its recent highs, while U.S. equity markets, buoyed by the dovish tone, saw the Nasdaq and S&P 500 reaching all-time highs.