Daily Macro markets update 13/09/2024
Market Report. 📉 The European Central Bank cut interest rates yesterday in line with market expectations, keeping its guidance data-dependent without a set path. Lagarde said the downward trajectory is “pretty obvious” but avoided commitments as growth forecasts were trimmed and 2024-25 inflation projections edged up slightly. Traders scaled back bets on an October cut […]
Daily Macro markets update 12/09/2024
Market Report: 📉 The ECB is widely expected to cut rates by 25bps today, lowering the deposit rate to 1.5%. Officials remain tight-lipped on the policy path ahead, wary of committing as inflation remains stubborn, especially in services. The annualised core inflation rate remains at 2.8%, closer to 3% than the ECB’s 2% target. Market […]
Daily Macro markets update 11/09/2024
🌍 Market Report. Today’s UK economic data is not very positive. We have zero GDP growth, coming in at 0% against the expected 0.2%. The latest economic data showed stronger than expected economic growth in the UK so far. Industrial production fell by 0.8% when it was supposed to rise by 0.3%, also considering that […]
Daily Macro markets update 10/09/2024
🌍 Market Report. UK employment rises but wage growth slows. The median income index falls to 4% against an expected 4.1% and down from 4.6% in the previous period. From the Bank of England’s perspective, this is good news, as it reduces the impact of inflation via consumption. And although the pound has initially responded […]
Daily Macro markets update 09/09/2024
Market Report. 🏛️ The conclusion from Friday’s employment data is that the US labour market is slowing down. However, the impact was not as dramatic as the previous month’s employment report. NFP came out below expectations, but at least somewhat better than the previous month, which had a disastrous drop. The unemployment rate remained at […]
Daily Macro markets update 06/09/2024
Market Report: 📈 The August US Nonfarm Payrolls (NFP) report showed 142k jobs added, missing the forecast of 165k but higher than the previous month’s revised figure of 89k. The unemployment rate remained steady at 4.2%, in line with forecasts. Average earnings grew by 0.7% MoM and 3.8% YoY, exceeding expectations. The labor force participation […]
Daily Macro markets update 05/09/2024
Market Report. 📉 Yesterday, federal surveys of available employment in the US (JOLTs) fell more than expected, indicating apparent weakness in the labour market (tomorrow we will know the employment report, which will have the latest answer). Job openings data fell to the lowest level since 2021, weighing on markets. Remember, Fed officials have made […]
Daily Macro markets update 04/09/2024
📉 Market Report. The US technology sector is once again weighing on the markets. The Justice Department has escalated its antitrust investigation of Nvidia by sending subpoenas to the chipmaker and other companies. Subpoenas are legally binding requests for information, taking the probe closer to a potential formal complaint. The DOJ is investigating Nvidia’s acquisition […]
Daily Macro markets update 03/09/2024
Market Report. 🚗 Volkswagen says headwinds mean it can’t rule out closing plants in Germany for the first time, also dropping a job protection pledge through 2029. The automaker cites new competitors in Europe, Germany’s manufacturing position declining, and needing to “act decisively” on costs. Mounting competition from inexpensive Chinese EVs is a key challenge […]
Daily Macro markets update 02/09/2024
🌎 Market Report. 📊 US: PCE inflation data seemed to exert a neutral effect on Friday. Monthly core PCE inflation came out above expectations (negative effect on the market). Annualised core PCE inflation came in below estimates (positive market effect). However, in general terms, US seems to be on track to hit the Fed’s 2% […]