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The German economy contracted over the last two quarters, which is defined as a technical recession. Q1 GDP, revised a second time, came in at -0.3%. This follows Q4 2022’s GDP of -0.5%. Germany has faced considerable challenges following Russia's invasion of Ukraine and the subsequent choice made by European leaders to sever relations with Moscow.
Headline Inflation decelerated sharply in April as Wednesday’s data showed, but remains elevated and the core surged, keeping pressure on the Bank of England for more monetary tightening and harming the UK index
On Friday, during a panel discussion, Fed Chair Powell suggested that rates may not climb as much as expected due to credit tightening. Other Fed speakers suggest that FOMC members are developing diverging views. China data hints at a slowing momentum in recovery and EU CPI is still too high. This week sees two more inflation data points – core PCE on Friday and UK inflation on Wednesday. Wednesday will…
Popular low-cost airline group Ryanair released strong top and bottom line results for FY2023 (period ended March 31), with robust summer demand eyed
The British luxury fashion brand reported solid financial results today for FY2023, with Revenue rising 10% y/y, helped by a sales acceleration in China during the first quarter of the current year
On Monday, European regulators granted approval to Microsoft's proposed acquisition of Activision Blizzard, a deal worth $69 billion. While this decision does not guarantee the acquisition's completion, it may assist Microsoft in addressing objections raised by the United States and the United Kingdom.
Last week, US headline inflation came in under 5% for the first time in two years. Core inflation was 5.5% y/y and is still looking sticky. Chinese CPI was a disappointing 0.1% y/y and Chinese factory-gate inflate declined 3.6% y/y. We also saw the BoE raise rates by 25 bps to 4.50%. This week will see a host of Fed speakers with Fed Chair Powell participating in a panel discussion…
The Bank of England raised rates again on Thursday and kept the door open to further tightening, but the index shows resilience as the bank does not see recession any more
The BoE delivered its twelfth straight rate increase and kept the door open to more moves with typically vague communication, while upgrading its GDP and inflation forecasts
The pair is having a bad month despite the hint of more hikes by the ECB, but catches a breath today, as Thursday’s policy decision by the Bank of England looms
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