Greetings to a brand new week full of events, economic releases and US debt frictions. We are here to tell you everything you need to know!
Euro zone heads north, but inflation slows
In the nearer week data should confirm the euro zone economy is going up, after the IMF upgraded surge forecasts and Greece got back to the debt market. Nevertheless, inflation figures could affect ECB plans to get down to tightening policy.
Surge in the single currency area dared to surpass paltry expansion in America and the United Kingdom during the first quarter and the pace didn’t cool in the April-June period.
The euro zone might not be surge champion in the second quarter, especially after the US economy rebounded to an annualized 2.6% due to consumer spending as well as business equipment investment.
Friday’s data unveiled that the euro zone's number two economy, France, added by 0.5% for a third successive quarter. Meanwhile, Spanish GDP got back to pre-crisis levels, offering a 0.9% expansion.
As compiled by the European Commission, in July, euro zone economic sentiment rallied for a third straight month, hitting a fresh 10-year maximum because of a pick-up of the prevailing services sector. As for confidence levels in all sectors, and for customers, they exceeded historical averages.
The US dollar index breaks one resistance after another. Read the report to learn the next target for the US dollar index!
The United States has one week before default, and NVIDIA may become the next Tesla. What else drives the market?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.