Market Pulse - Currencies
OPEC+ rubber stamps crude oil output quota increase for August
The world's largest grouping of crude oil exporting countries went ahead with plans to raise its permitted output ceiling, as expected.
US Chicago PMI falls more quickly than expected in June
Manufacturing activity in the Chicago area slowed more sharply than anticipated in June, plumbing a near two-year low.
Personal spending in US for May comes in below forecasts
Personal incomes in the US continued to grow steadily last month, but spending came in lower than expected.
Powell says US economy in 'strong shape', validates expectations for Fed rate hikes
Federal Reserve chairman Jerome Powell believed his country's economy was in "strong shape" and that inflation could be brought back to target without undermining the solid jobs market.
BoE's Bailey leaves door open to 50bp hike but says economy "at something of a turning point"
The head of the Bank of England walked a fine line between hawkishness and its gradual approach to interest rates up until now at the European Central Bank Forum in Sintra, Portugal.
US Q1 GDP growth revised a tad lower on slower consumption growth
The American economy shrank at a slightly faster than expected clip over the three months to March, as consumption slowed more than previously thought.
German CPI surprises to the downside thanks to government measures
Consumer price inflation in the euro area's largest economy surprised to the downside in June, but some economists expected the relief to be short-lived.
Spanish CPI jumps past economists' forecasts in June
The cost of living in Spain grew at its fastest clip since the middle of 1985 in June, stoked by fuel prices and those for food and non-alcoholic beverages.
US house price gains edge past forecasts in April
US house price gains edged past forecasts in April, the results of a closely-followed survey showed.
US consumer expectations fall to lowest since March 2013
American consumers' confidence soured in June as expectations for their personal finances, business and jobs plumbed fell to their lowest levels in nearly a decade, the results of a closely-followed survey revealed.
US durable goods orders jump past forecasts in May
Orders in the US for goods made to last more than three years rose more quickly than expected last month.
US consumer confidence and inflation expectations decline
Consumer confidence in the US was a tad weaker than expected in June, but inflation expectations also fell back over the course of the month, the results of a closely-followed survey revealed.
US current account deficit hits record high in first quarter of 2022
America's current account deficit reached a fresh record high equivalent to 4. 8% of the country's gross domestic product over the first three months of 2022.
Sector movers: Oil and Gas plays drag as crude oil futures hit by recession worries
Commodity plays fared worst at the end of the week as talk of recession fears replaced that of inflation worries in the wake of the Federal Reserve's surprise 75 basis point interest rate hike the day before.
Opportunity knocks, BofA says
Financial markets have reached a critical juncture with positioning across asset classes as bearish as at any time seen since August 2002, July 2008, 11 September, September 2015, January 2016 and March 2020, but opportunity might be about to knock on investors' door, said strategists at Bank of America.
Industrial production grows more slowly than forecast in May as factory production dips
Industrial output in the US expanded more slowly than expected last month as levels of factory activity following three months of strong growth.
Euro area CPI rises at record pace in June, energy and food prices pace gains
Euro area consumer prices rose at a record clip last, revised data confirmed, pushed higher energy and food prices in particular.
Fed is 'acutely' focused on returning inflation to 2.0 per cent, Powell says
Policymakers at the US central bank are "acutely" focused on maintaining price stability as well as financial stability, with the latter of key importance for meeting the Federal Reserve's mandate of achieving 2. 0% inflation and full employment, Jerome Powell said.
Friday preview: Fed's Powell, BoJ in the spotlight
The market spotlight at the end of the week will be on US Federal Reserve chairman, Jerome Powell, who is due to speak at a conference on the international role of the dollar.
Philly Fed index dips unexpectedly in June
Manufacturing activity in the US mid-Atlantic region softened a tad in June as firms received fewer new orders, according to the results of a closely-followed survey.