Category: expected
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China’s consumer prices rise less than expected in May, PPI deflation eases
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Funtap/iStock via Getty Images China’s consumer prices rose at a steady rate in May, while producer price deflation moderated slightly, indicating that measures taken by the Chinese government to stimulate the economy are beginning to show positive results. China’s annual inflation rate was 0.3% in May 2024, unchanged The index…
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China’s consumer prices rise less than expected in May, PPI deflation eases
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Funtap/iStock via Getty Images China’s consumer prices rose at a steady rate in May, while producer price deflation moderated slightly, indicating that measures taken by the Chinese government to stimulate the economy are beginning to show positive results. China’s annual inflation rate was 0.3% in May 2024, unchanged The index…
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Oil – private survey of inventory shows a larger headline crude oil draw than was expected
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Via Oilprice.com: — The expectations I saw focused on: Main crude -1.05 million barrels Distillates +1.6 million barrels Gasoline +0.9 million — This data point is from a special survey conducted by the American Petroleum Institute (API). It is a study of oil storage facilities and companies The official report…
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UK April ILO unemployment rate 4.4% vs 4.3% expected
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precedent 4.3% Employment change -140k vs. -100k expected Before -177 thousand Average weekly income is +5.9% vs. +5.7% 3-month/year forecast Previous +5.7%; Revised to +5.9% Average weekly income is +6.0% vs. +6.1% 3-month/year forecast precedent +6.0% Salaries may change -3k Previous -85K; Revised to -36k The unemployment rate is creeping…
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ECB Lowered Interest Rates by 0.25% as Expected in “Hawkish Cut”
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As expected, the European Central Bank cut interest rates by 25 basis points, but surprisingly dampened the prospects for further easing soon. Policy makers had a near unanimous vote to cut the deposit rate to 3.75% and the key refinancing rate to 4.25% as one dissenter (Holtzmann) wanted to keep…
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Canadian dollar outlook dims on expected interest rate divergence By Reuters
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By Fergal Smith TORONTO (Reuters) – A Reuters poll showed that the Canadian dollar is set to rise less than previously expected over the next year if the Bank of Canada begins cutting interest rates before the Federal Reserve (US central bank) and the US election raises uncertainty. Concerning global…
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Australia’s GDP Grew Slower Than Expected in Q1 2024
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The Australian economy grew by 0.1% q/q in the first quarter of 2024, slower than the 0.3% q/q rise in the previous quarter and the 0.2% q/q increase that markets had expected. Overall, there was weak domestic demand as increased consumer spending was offset by a decline in aggregate investment.…
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Equinix expected to benefit from Gen-AI in long term; Citi keeps stock buy-rated By Investing.com
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On Wednesday, Citi reiterated a Buy rating on shares of Equinix (NASDAQ:), with a price target of $1,020.00. The company’s positive position is based on Equinix’s ability to benefit from the ongoing digital transformation of the economy. Equinix’s management, including CFO Keith Taylor and Senior Director of Investor Relations Chip…
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Spain May services PMI 56.9 vs 56.4 expected
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Once again, Spain remains the bright spot in the Eurozone. This represents the largest increase in activity in more than a year. HCOB notes that: “In May, Spain’s services sector continued to expand. Both activity and new business saw significant growth, with the Services PMI business activity index rising to…
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UK May Final Manufacturing PMI 51.2 vs.51.3 expected
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Final Manufacturing PMI 51.2 vs. 51.3 expected and 49.1 previous. Key findings: Manufacturing PMI at 51.2 in May Production is rising in all major subsectors and size categories. Business optimism rises to 27-month high comment: Commenting on the latest survey results, Rob Dobson, Director of S&P Global Market Intelligence, said:…
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PBOC is expected to set the USD/CNY reference rate at 7.2378 – Reuters estimate
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The People’s Bank of China is scheduled to release the reference USD/CNY exchange rate at around 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or renminbi). The People’s Bank of China follows…
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Highlights for next week: Bank of Canada and ECB are expected to cut rates. US jobs report
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Two central banks meet next week and are expected to cut interest rates. The Bank of Canada will announce its interest rate decision at 9:45 a.m. on Wednesday. They are expected to reduce the interest rate to 4.75% from 5.0%. The last policy change was in July 2023 when they…
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USD/CAD expected to weakned into year end By Investing.com
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UBS analysts highlighted the possibility of the Bank of Canada (BoC) implementing an interest rate cut ahead of the US Federal Reserve, amid fears of an economic slowdown. The Canadian dollar (CAD) is expected to face modest inflationary pressures as a result. UBS expects the Bank of Canada to make…
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UBS lowers EUR/CHF target to 0.96 amid expected ECB rate cuts By Investing.com
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UBS has revised its forecasts for the currency pair, indicating a bearish outlook in the short term. The financial services company revised its March 2022 target for the euro to Swiss franc exchange rate to 0.96, down from the previous 0.97. In addition, UBS presented a new forecast for June…
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PBOC is expected to set the USD/CNY reference rate at 7.2528 – Reuters estimate
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The People’s Bank of China is scheduled to release the USD/CNY reference exchange rate at approximately 0115 GMT. The People’s Bank of China (PBOC), China’s central bank, is responsible for setting the daily midpoint of the yuan (also known as the renminbi or renminbi). The People’s Bank of China follows…
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EUR/USD rally expected to persist, says BofA By Investing.com
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Bank of America (BofA) analysts provided insights into currency market trends, pointing to a significant rally in the pair last week. This increase is due to the weak US CPI report. Bank of America signals indicate that the uptrend for the EUR/USD is likely to continue. The bank’s analysis pointed…
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Canada April CPI 2.7% versus 2.7% expected
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Previous month 2.9% Consumer Price Index (CPI) monthly: 0.5% vs. 0.6% estimate Basic measures Bank of Canada Core Consumer Price Index (CPI) YoY +1.6% vs. 2.0% previously Bank of Canada Consumer Price Index (CPI) monthly core at 0.2% versus 0.5% previously Core CPI rose monthly YoY by 0.0% versus 0.1%…
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US Leading Economic Index (LEI) M/M -0.6% vs. -0.3% expected
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US LEI -0.6% vs -0.3% expected and -0.3% previous. “Another decline in US LEIs confirms that softer economic conditions lie ahead,” said Justyna Zabinska-La Monica, senior director of business cycle indicators at The Conference Board. “Deteriorating consumer expectations about business conditions, weak new orders, a negative yield spread, and a…
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Singapore Non-oil Domestic Exports (NODX) April 2024: +7.6% m/m vs. +7.9% expected
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Singapore’s non-oil domestic exports (NODX) for April 2024 -9.3% YoY vs. -10% expected and -20.8% in March +7.6% m/m vs. +7.9% expected and -8.4% in March A noticeable decline in exports of non-electronic products, primarily medicines. SGD update, strengthened since March NODX data was released in the middle of last…
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Oil turns higher as U.S. inflation cools, crude stocks drop more than expected
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Slavko Sereda/iStock via Getty Images Crude oil futures reversed course to close higher on Wednesday, as US government data showed a slight decline in inflation and a larger-than-expected decline in crude oil inventories. The Consumer Price Index rose 0.3% last month after rising 0.4% in March and February, while the…