Underwhelming US jobs number reduces rate hike prospects
The latest United States employment data fell short of the average monthly gains in 2016, leaving many questioning the probability of an interest rate increase in September.
Macro News
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Business confidence in Europe sees summer fall
Business confidence in the eurozone fell notably over the summer according to today’s update to the European Commission’s Business Climate Indicator.
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Yellen says case for rate hike has ‘strengthened’
Speaking at the annual Jackson Hole symposium, Federal Reserve Chair Janet Yellen said the solid performance of the United States labour market and current economic outlook mean the case for an increase in the federal funds rate has ‘strengthened in recent months.’
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US services sector subdued as Yellen readies speech
The United States’ services sector recorded its weakest rise in activity since February as Federal Reserve chair Janet Yellen puts the finishing touches to her Jackson Hole speech.
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Crude bull market depends on sentiment and Saudi delivery
The price of brent crude broke through $50 per barrel on Thursday afternoon prompting headlines writers to tout oil’s return to bull market territory.
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UK retailers defy doom-mongers to surprise on the upside
Retail sales in the United Kingdom rose 1.4% during July from levels recorded in June, confounding expectations of a drop-off.
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UK employment rise lifts pound again
Better than expected United Kingdom employment figures prompted the pound to regain slightly more of its post referendum lost ground this morning.
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Inflation uptick prompts rise in pound
Inflation in the United Kingdom ticked up to 0.6% in the year to July from 0.5% for June according to the Office for National Statistics, prompting a rise in the pound.
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EY: UK faces financial services slowdown even with ‘softer’ Brexit
Business and mortgage lenders and general insurers are in for a “tough” 2018, even if a softer, transitional Brexit deal is reached, according to an Ernst & Young economic forecast.
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Strong US job creation forcing Yellen’s hand
The United States’ non-farm payroll growth in July comfortably outstripped forecasts, according the Bureau of Labor Statistics.
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BoE cuts rates to 0.25%, turns on QE tap
The Bank of England’s Monetary Policy Committee has cut interest rates to 0.25%, and committed to a new term funding scheme to “reinforce the pass-through” of the decision into the broader market.
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Japan announces $45bn fiscal stimulus package
Japan is set to launch $45bn of new fiscal stimulus measures after Prime Minister Shinzo Abe and the cabinet gave the plan the go ahead.