Market Overview - Page 70

On Wednesday, the Reserve Bank of New Zealand raised its key rate by 25bp to 5.5%, the highest since October 2008, which was widely expected by markets. The RBNZ’s accompanying commentary was full of dovish signals. The central bank noted.

Another release of UK consumer inflation well above expectations has failed to take the issue off the country’s agenda. The report for April showed a 1.2% rise in consumer prices, compared to the 0.8% that markets were expecting this time.

Weaker-than-expected PMI reports were released today from the Eurozone and the UK, adding to the global Dollar pullback seen in recent weeks. The manufacturing PMI fell to 46.9 in May from 47.8 in the previous month, in stark contrast to.

Preliminary readings of the PMIs for business activity in the euro area generally revealed a worse-than-expected deterioration. According to the composite index, the last time the euro area industry suffered this badly was in 2008-2009, when the economy was in.

The number of active oil and gas drilling rigs in the US fell by 11 last week to 720, returning to a level seen a year ago. This indicates that producing companies focused on efficiency rather than on expansion. Lower.

US markets made an impressive surge last week, taking the S&P500 to 4200, a crucial turning point. It is worth preparing for an upside stop or correction before the index steadily moves to the next level. The S&P500 index has.

The dollar has strengthened against its major rivals over the past two weeks, gaining 2% against a basket of major currencies. The Dollar Index surpassed 103, a level not seen since the second half of March. Notably, the rally in.

The US housing market continues to bear the brunt of high-interest rates. The number of building permits issued fell by 1.5% in April, following a 3.0% decline a month earlier. The last two months of decline erased almost half of.

US retail sales rose 0.4% in April after falling 0.7% in the previous month, half as much as expected. Sales were 1.6% higher than a year earlier, well below the 4.9% inflation rate for the period, suggesting a decline in.

Gold had made impressive moves yesterday before active trading in New York. Still, comments from Fed officials, combined with the release of relatively strong industrial production data, pushed the price back almost $30 to $1990, where it remains at the.

The UK labour market is deteriorating at an increasing rate. Data released this morning showed that jobless claims rose by 46.7k in April, following a 26.5k increase in March. Analysts had, on average, expected a rise of 31.2k. The unemployment.

China’s economic growth is falling short of economists’ expectations, putting pressure on the yuan and raising questions about the sustainability of the national and global economies. Industrial production rose 5.6% y/y in April, but the average forecast was 10.9% y/y.