UK Industrial Output Contracts Unexpectedly in June
United Kingdom industrial production experienced an unexpected decline in June, falling short of analyst projections.
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United Kingdom industrial production experienced an unexpected decline in June, falling short of analyst projections.
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July US CPI met expectations, offering some relief to the Federal Reserve, though market attention now turns to geopolitical risks and bond yields.
The Indian Rupee (INR) opened lower against the US Dollar (USD) Thursday, influenced by the dollar's strength driven by global energy supply worries.
Crude oil futures saw modest declines following reports of potential asset transfers between the UAE and Iran, alongside broader market movements.
New Zealand dollar softened following a notable drop in the RBNZ's latest inflation expectations survey, impacting rate hike speculation.
Asian stock markets, including Japan's Nikkei and Topix, and Korea's Kospi, surged driven by strong chip sector performance and positive earnings outlooks.
USD/JPY shows little movement around 159.50 as market participants weigh potential currency intervention risks and await key US economic data.
Major US firms like Apple, Nike, and FedEx are benefiting from quicker-than-anticipated tariff refunds, providing a temporary uplift to profits.
Crude oil prices show an impulsive structure from early July lows, suggesting potential for continued upward movement according to technical analysis.
The Australian Dollar consolidates gains, trading within a defined range as Middle East risks counterbalance the Reserve Bank of Australia's hawkish stance.
The UK's preliminary Q2 GDP estimate is due, with analysts forecasting a slowdown in economic expansion compared to the previous quarter.
The Canadian Dollar showed resilience against the US Dollar, as broader greenback softness counteracted the impact of declining crude oil prices.
Despite recent activity, Japan maintains substantial foreign reserves, indicating ample capacity for additional yen support if deemed necessary.
Goldman Sachs suggests that a weakening of the US dollar or a Bank of Japan policy disappointment could prompt new yen intervention.
China's central bank established the yuan's daily reference rate at 6.7888 against the USD, exceeding market expectations.
Japanese producer prices stayed elevated at 7.2%, slightly below expectations, while import costs surged, maintaining pressure for potential BOJ policy shifts.
Singapore's economy expanded by 5.9% year-on-year in the second quarter, surpassing initial forecasts and indicating robust growth.
Japanese wholesale inflation for July climbed 7.2% year-over-year, a slight moderation from expectations and the previous month's figure.
Ford plans to move production of certain Lincoln models from China to the United States starting in 2030, following tariff policy changes.
Japan's Producer Price Index (PPI) registered 7.2% year-over-year in July, falling short of the anticipated 7.4% increase.
Japanese producer prices saw a slight increase in July, missing economists' projections and indicating tempered inflationary pressures at the wholesale level.
The RICS UK Housing Price Balance showed a marginal improvement in July, registering -30% against an anticipated -31%.
Daiwa's analysis of July CPI data suggests the Federal Reserve will likely maintain its current policy, highlighting housing inflation as a critical factor.
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