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UK retail sales rose higher-than-expected this morning having increased 0.5% on a month-on-month basis for April. This beat market expectations of a 0.3% rise and came after a 1.2% fall last month.
Read moreUK retail sales rose higher-than-expected this morning having increased 0.5% on a month-on-month basis for April. This beat market expectations of a 0.3% rise and came after a 1.2% fall last month.
The latest data from Germany indicates that their economy contracted 0.3% during the first quarter of 2023. Given that this follows a contraction of 0.5% seen over Q4 2022, Europe’s largest economy is now in a technical recession.
Core inflation has risen to its highest level since March 1992, following a surge which saw the index rise from 6.2% in March to 6.8% in April.
As the prospect of X-date grows ever closer, yesterday President Joe Biden and House Speaker, Kevin McCarthy held a “productive” meeting to discuss America’s debt ceiling crisis, though no agreement has been reached.
The incumbent Greek prime minister, Kyriakos Mitsotakis and his centre-right New Democracy party have secured the largest share of the votes in the general election but has fallen just shy of a simple majority.
The G7 summit is taking place this weekend, in Hiroshima. The agenda will be packed and there’s almost certainly going to be more subjects that there are agreements.
Yesterday, the BoE’s Governor Andrew Bailey delivered a speech to British Chambers of Commerce which focused on inflation, wage growth and the labour market.
Stellantis isn’t necessarily a household name, but their brands are: The owner of Jeep, Alfa Romeo, Vauxhall, Fiat and others is one of the world’s largest automobile manufacturers
European Commission upwardly revises their growth forecasts for the EU
There's the prospect of a second round for Turkey's presidential election.
The BoE did as expected yesterday and raised rates to 4.5%, which the market took fully in its stride.
All eyes were on US inflation yesterday, which came out exactly in line with expectations and the same as it was last month…
UK retail sales rose higher-than-expected this morning having increased 0.5% on a month-on-month basis for April. This beat market expectations of a 0.3% rise and came after a 1.2% fall last month.
The latest data from Germany indicates that their economy contracted 0.3% during the first quarter of 2023. Given that this follows a contraction of 0.5% seen over Q4 2022, Europe’s largest economy is now in a technical recession.
Core inflation has risen to its highest level since March 1992, following a surge which saw the index rise from 6.2% in March to 6.8% in April.
As the prospect of X-date grows ever closer, yesterday President Joe Biden and House Speaker, Kevin McCarthy held a “productive” meeting to discuss America’s debt ceiling crisis, though no agreement has been reached.
The incumbent Greek prime minister, Kyriakos Mitsotakis and his centre-right New Democracy party have secured the largest share of the votes in the general election but has fallen just shy of a simple majority.
The G7 summit is taking place this weekend, in Hiroshima. The agenda will be packed and there’s almost certainly going to be more subjects that there are agreements.
Yesterday, the BoE’s Governor Andrew Bailey delivered a speech to British Chambers of Commerce which focused on inflation, wage growth and the labour market.
Stellantis isn’t necessarily a household name, but their brands are: The owner of Jeep, Alfa Romeo, Vauxhall, Fiat and others is one of the world’s largest automobile manufacturers
European Commission upwardly revises their growth forecasts for the EU
There's the prospect of a second round for Turkey's presidential election.
The BoE did as expected yesterday and raised rates to 4.5%, which the market took fully in its stride.
All eyes were on US inflation yesterday, which came out exactly in line with expectations and the same as it was last month…
Bloomberg is reporting a trend amongst UK businesses to employ temporary and contract workers, rather than full time employees, amidst economic uncertainty and increasing wage costs.
Brits are becoming used to spending more and getting less for it and are adjusting their shopping habits accordingly.
The Fed hiked by 25 basis points, raising the benchmark Fed Funds Rate to 5.25% as expected.
This evening’s US interest rate announcement remains the key event risk for this week.
Yesterday, the Bank of England’s chief economist maintained that British households must accept that they’re worse and stop pushing for higher pay as real wages fall at their fastest rates for 20 years.
UK Budget Deficit Soars Over March
Credit Suisse Results Show Bank Suffered $69bn in Outflows over Q1
Retail Sales Fall as ONS Cites Poor Weather and Shortages
As markets digested UK CPI coming in hotter-than-expected and remaining in double digits, investors upwardly revised their rate hike expectations from the Bank of England.
This morning has seen the UK’s headline CPI inflation figures remain in double digits, against estimates that it would drop into single digits for the first time since August 2022.
UK Wage Growth Rises Above Forecasts
This morning, the release of Deloitte’s quarterly CFO Survey suggests that business sentiment has improved significantly.
Yesterday evening, the US president arrived in Belfast for a four-day visit to the Island of Ireland.
The Telegraph is leading with an article that Downing Street is planning an early election in the Autumn of 2024 as the party tries to reduce its gap in the polls and boost its chances of another term.
Weaker-Than-Expected US Data Sees Equities Close Lower
Finland Joins Nato
AI Could Replace 300,000,000 Jobs, Goldman Sachs Report Argues
The UK’s largest asset manager, Legal and General have emphasised that businesses are insufficiently pricing in climate change associated risks.
BRC Inflation Index Hits Highest Level Since Records Began
First Citizens Buys SVB, As Markets Digest Choppy Session for Deutsche Bank on Friday.
This morning UK GDP has come in higher-than-expected hitting month-on-month growth of 0.3% for January, against forecasts of 0.1%.
Yesterday, the Bank of Canada met market expectations by leaving rates unchanged at 4.5%.
Mann and Powell: Markets Digest Comments Both Sides of the Pond
This morning saw the Reserve Bank of Australia raise rates by a further 25bpts, bringing the base rate to 3.6% after ten consecutive rate hikes.
Kaja Kallas wins Second Term
Musk Fails to Impress Investors in Texian Presentation
Highstreet Banks See Net Interest Income Soar
After months of political back and forth between Westminster, Brussels and Stormont, yesterday saw Rishi Sunak and Ursula von der Leyen agree on amendments to the Northern Ireland protocol as the two leaders met in Windsor.
DXY Rises To Seven Week High
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