After lunch, US producer price inflation figures are expected to increase 0.1% month-over-month in June, following a 0.3% decline in May.
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The annual inflation rate in France declined to 4.5% in June 2023, from 5.1% in May. This suggests that the ECB’s hawkish stance has been somewhat successful.
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The Royal Institution of Chartered Surveyors (RICS) house price balance survey, which measures the gap between people seeing rises and falls in house prices, fell to -46 in June from -30 in May.
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Sterling hit the high notes yesterday, reaching its strongest point against the euro since August last year. Indeed, it is stronger than a month ago, five years ago and even 1.5% stronger than 10 years ago, long before…
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Key US stocks the S&P 500 and the Nasdaq both added 0.3% yesterday as investors welcomed comments from central bank officials suggesting that the end of rising interest rates may be in sight.
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The euro strengthened to a two-month high against the US dollar yesterday despite data showing a slowdown in economic growth.
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A mixed labour report revealed the unemployment rate increased to 4% while there was an improvement in wage growth, thus adding pressure to the Bank of England to raise interest rates further.
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After soaring to a 15-month high against the US dollar yesterday, the pound later rose to an 11-month high against the euro, coming out on top of our three major currencies.
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