Fidelity Top Stories
Fed's Mester sees Fed funds rate 'somewhat above' 4 per cent in early 2023
A top US central bank official made the case for raising short-term interest rates "somewhat above" 4. 0% in early 2023 and keeping them there.
China PMIs point to continued slowdown in August amid dearer energy, Covid restrictions
Economic activity in Asia's largest economy continued to slow in August, amid higher energy costs and Covid-19 restrictions, the results of two closely followed surveys revealed.
Fed's Williams sees rates remaining restrictive across 2023
A top US central bank official said that he expected interest rates to rise "somewhat above" 3. 5% and to remain at that level throughout 2023.
Households continue to draw on savings in July, but recession still on its way
Consumers in the UK continued to save less and borrow more last month in a bid to maintain their lifestyles, but absent "massive" government support, that might not be the case for much longer.
US consumer confidence rises past forecasts in August, University of Michigan says
Consumer confidence in the US picked up more strongly than first thought in August, led by an improved outlook for the economy one-year ahead, the results of a closely-followed survey revealed.
Efforts to lower inflation likely to bring 'some pain', Fed's Powell says
Efforts to bring down inflation would likely cause "some pain" to the economy but not doing so would entail even greater pain, the head of the US central bank said.
US visible trade deficit sees sharp and unexpected narrowing in July
America's shortfall on trade in goods with the rest of the world narrowed sharply last month, amid a large and unexpected drop in purchases from overseas.
US personal income and spending growth slows more than expected in July, prices dip
Personal incomes and spending in the US grew more slowly than anticipated last month in nominal terms, while prices dipped unexpectedly.
Deutsche Bank downgrades Europe stocks to 'neutral', point to slowing growth in China and Europe
Equity strategists at Deutsche Bank downgraded their view on European equities to 'neutral' after the Euro Stoxx 50 moved slightly above their year-end 2022 target of 3,640.
Fed's Harker wants to see rates above 3.4 per cent and then 'sit for a while'
A top US central bank official said on Thursday that he wanted monetary policy to move into restrictive territory with the Fed funds rate above 3. 4% and that interest rates would need to be kept at that level for a while.
US Q2 GDP revised slightly higher
The US economy shrank by less than previously estimated over the three months to June, revised data showed.
Fed's George unsure how high rates will need to go to tame inflation
The head of Federal Reserve Bank of Kansas City said the central bank had more work to do in order to tame inflation.
Weekly jobless claims in the US undershoot forecasts again
Jobless claims in the US receded by more than expected once more last week.
US pending home sales fall by less than expected in July, NAR spies bottom
Pending home sales in the US fell by less than expected last month and contract signings may be close to a bottom, a leading business lobby group said.
US durable goods orders unchanged in July, but details stronger
New orders for goods made to last at least three years undershot economists' forecasts in July, in part as an expected surge in civilian aircraft orders failed to materialise, even as those for defence aircraft nearly halved.
US new home sales fall below pre-pandemic level in July
The pace of new home sales fell to below its level from before the pandemic on the back of another outsized drop.
US private sector output drops sharply in August amid drag from services
Private sector firms in the US reported the fastest pace of declines in output in August outside of that seen right after the first outbreak of the Covid-19 pandemic, the results of two surveys showed.
UK factory growth falls for first time since February, CBI says
UK factory output shrank for the first time in over a year over the three months to August, alongside a larger-than-expected decline in total order books, the results of a closely-followed survey revealed.
Natural gas futures surge as Gazprom announces three-day halt to NS1 flows
Gazprom announced at the weekend that it would shut natural gas flows through the Nord Stream 1 pipeline for three days, sending gas futures sky-high.
Citi sees potential risks from centre-right win in Italian September elections
Italy's centre-right bloc seems to be clearly headed towards an absolute majority at the elections due to take place on 25 September, Citi said.