Copper Rises Despite China’s Deflation
China’s consumer inflation fell to negative territory as today’s data showed, but Copper rises on hopes for further stimulus by authorities
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China’s consumer inflation fell to negative territory as today’s data showed, but Copper rises on hopes for further stimulus by authorities
Consumer inflation fell to negative territory in July, for the first time in more than two years, aggravating fears over the recovery of the world’s second largest economy
Today’s Q2 labor report showed an increase in unemployment, which could help the bank stay in the sidelines after last month’s pause, sending the Kiwi lower
Chinese factory activity contracted for fourth straight month, suppressing USOIL today, but heads towards it best month in over a year as authorities have pledged stimulus measure
Core PCE came in at 4.1% y/y. This was lower than the 4.2% expected and lower than the previous print of 4.6%. This is the lowest annual rate since September 2021. On a monthly basis core PCE came in at 0.2%, which is 2.4% annualised.
The German Index hit fresh all-time highs after the European Central Bank hiked rates on Thursday, as Ms Lagarde opened the door to a pause, in a dovish press conference
China’s Politburo pledged to boost the economic recovery on Monday, following months of disappointing data, helping USOil enter its fifth straight profitable week
Headline inflation decelerated sharply in June, as today’s data showed, but remains far from the 2% target and along with high wages continues to pose a challenge for the Bank of England
The commodity slips today, as the latest batch of economic data form the world’s biggest importer of oil, disappointed markets once again
Headline CPI came in at 3%, lower than the previous months 4%, and core CPI was also lower at 4.8% (5.3% - previous). The monthly figures for both headline and core CPI were 0.2% each, which is a remarkable 2.43% annualised.
Copper prices fall as the string of poor Chinese economic data continued today, with producer prices falling deeper into deflation territory in June, while consumer inflation was non-existent
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