Eurozone growth and inflation slow with ECB poised to act July 31, 2019 Both price inflation and economic growth in the Eurozone were shown to have slowed in figures released today, boosting the chances the European Central Bank (ECB) will deliver fresh stimulus to kickstart the region’s struggling economy. Read more: ECB prepares stimulus to kickstart stalling Eurozone economy Prices in the Eurozone grew at an annual rate [...]
UK manufacturers gloomy but consumers more upbeat July 31, 2019 Optimism among UK manufacturers has fallen rapidly but British consumers have become more positive, two surveys showed today, in the latest sign of a big divide in the economy. Read more: UK mortgage approvals rise but consumer lending slows Business optimism among small and medium-sized (SME) UK manufacturers fell at its fastest pace in three [...]
Stock markets slide as Donald Trump lashes out at China before key meeting July 30, 2019 US President Donald Trump has fired a broadside at China ahead of the two sides’ trade negotiations, criticising its economy and saying the US has “all the cards”. Read more: ‘Faulty thought process’: Trump lashes out at Fed – again The attack has sent global stock markets sliding as the tensions between the world’s two [...]
Could this be the biggest monetary policy meeting in years? July 30, 2019 | City Talk The Federal Open Market Committee (FOMC) begin a two-day policy meeting today, the results of which are the most hotly anticipated in a long time. The market consensus is they’ll cut rates, but how likely is that? Stocks are currently at record higher, based on a certainty that short-term interest rates will be cut for [...]
Eurozone business confidence at six-year low as malaise continues July 30, 2019 Business confidence in the Eurozone economy reached an almost six-year low in July, with industrial sentiment falling significantly, a European Union survey showed today. Read more: ECB prepares stimulus to kickstart Eurozone economy Yet consumers became more positive, continuing the trend of domestic demand propping up euro area economies. The business climate indicator by the [...]
Sterling plunges below $1.22 as no-deal Brexit fears batter currency July 30, 2019 Sterling fell further overnight to its lowest level since March 2017 as worries over a no-deal Brexit under Boris Johnson’s government deepened. The pound plunged below $1.22 to hit $1.2146 this morning, a drop of almost 0.6 per cent against the dollar as analysts warned GBP is coming close to “uncharted waters”. Read more: Sterling [...]
‘Doomsday narrative’: Sterling tanks to 28-month low on no-deal Brexit fears July 29, 2019 Sterling has fallen to its lowest point in over two years against the dollar after ministers in Prime Minister Boris Johnson’s new government made clear they were now assuming a no-deal Brexit. The pound had fallen 1.1 per cent against the dollar to buy $1.225 by 2pm UK time. Read more: Dominic Raab: Britain ‘turbo-charging’ [...]
UK mortgage approvals rise but consumer lending slows July 29, 2019 Britain’s housing market received a modest lift in June as mortgage approvals increased by more than analysts had expected, Bank of England figures showed today. Read more: UK mortgage approvals hit two-year high following Brexit extension Annual lending growth to UK consumers slowed from 5.7 per cent in May to 5.5 per cent in June, [...]
UK firms keen to hire but skills shortages a problem July 29, 2019 In the second quarter of the year 60 per cent of British firms tried to hire new employees, according to a new survey, in the latest sign of strength in the job market. Read more: UK unemployment stays at 54-year low as wages tick up Meanwhile, 30 per cent of employers said they expect to [...]
Fed set to cut interest rates for first time in 10 years July 28, 2019 The US Federal Reserve is poised to cut interest rates for the first time in a decade when it meets this week in a preemptive effort to stave off the effects of trade tensions. Read more: US economic growth falls short of Trump’s target Market players think it is certain that the Fed will cut [...]