News

Japan National CPI ex Food, Energy (YoY) declined to 1.8% in May from previous 1.9%

Source  Fxstreet1781825815
Japan’s National CPI rises 1.5% YoY in May, Core CPI climbs as expected

Japan’s National Consumer Price Index (CPI) rose by 1.5% YoY in May, compared to the previous reading of 1.4%, according to the latest data released by the Japan Statistics Bureau on Friday.

Source  Fxstreet1781825488

Japan National CPI ex Fresh Food (YoY) meets expectations (1.4%) in May

Source  Fxstreet1781825401

Japan National Consumer Price Index (YoY) climbed from previous 1.4% to 1.5% in May

Source  Fxstreet1781825401

New Zealand Trade Balance NZD (MoM) registered at $800M, below expectations ($875M) in May

Source  Fxstreet1781824960

New Zealand Trade Balance NZD (YoY) fell from previous $-2.76B to $-3.36B in May

Source  Fxstreet1781824948

United Kingdom GfK Consumer Confidence registered at -23 above expectations (-24) in June

Source  Fxstreet1781823661

New Zealand Exports increased to $8.88B in May from previous $8.62B

Source  Fxstreet1781822702

New Zealand Imports: $8.08B (May) vs $6.7B

Source  Fxstreet1781822702

South Korea Producer Price Index Growth (YoY) increased to 8.5% in May from previous 6.9%

Source  Fxstreet1781816403

South Korea Producer Price Index Growth (MoM) down to 0.8% in May from previous 2.5%

Source  Fxstreet1781816402

New Zealand Westpac Consumer Survey: 80.4 (2Q) vs previous 94.7

Source  Fxstreet1781816402

United States Net Long-Term TIC Flows came in at $103.1B, above forecasts ($75B) in April

Source  Fxstreet1781812801

United States Total Net TIC Flows down to $26.1B in April from previous $150.7B

Source  Fxstreet1781812801

Argentina Trade Balance (MoM) came in at $3504M, above expectations ($2200M) in May

Source  Fxstreet1781809353
ECB’s Escriva sees energy inflation passing through to other sectors

European Central Bank (ECB) policymaker José Luis Escrivá said on Thursday that higher energy costs are spreading to services and transport, while warning that the inflation outlook remains highly uncertain for the European Union (EU) at a speech in Barcelona.

Source  Fxstreet1781807617

United States 4-Week Bill Auction fell from previous 3.595% to 3.58%

Source  Fxstreet1781796780
Bank of England: Steady policy path – Deutsche Bank

Deutsche Bank’s Sanjay Raja reviews the latest Bank of England decision, noting Bank Rate was held at 3.75% as expected. He highlights a more divided MPC on paper but a stronger consensus for a prolonged hold.

Source  Fxstreet1781794916

United States EIA Natural Gas Storage Change registered at 73B, below expectations (82B) in June 12

Source  Fxstreet1781793003
Euro set for weakness as BoE, SNB, Norges Bank and Riksbank leave the ECB hiking alone

The Euro (EUR) is caught between a hawkish but isolated ECB, weaker regional growth prospects, and a US Dollar that is recoupling with interest-rate differentials. BNY, Rabobank, and Societe Generale all flag headwinds for the single currency, though each emphasizes a different transmission channel.

Source  Fxstreet1781791533
United Kingdom: Inflation risks and Bank Rate path – RaboResearch

RaboResearch Global Economics & Markets discusses the Bank of England’s decision to keep Bank Rate at 3.75% with a 7–2 split, noting that two members preferred a 25bp hike. The sharp fall in energy prices suggests inflation may peak below earlier projections.

Source  Fxstreet1781790255
Norwegian Krone: August hike prospects rise – Nomura

Nomura economists Josie Anderson, George Buckley, Andrzej Szczepaniak and David Seif note that Norges Bank kept its policy rate at 4.25% in June but delivered hawkish guidance and a higher rate path.

Source  Fxstreet1781787485
ECB’s Lane says further rate hikes remain justified even under milder outlook

The European Central Bank (ECB) remains committed to maintaining a restrictive monetary policy stance in order to contain the inflationary impact of the energy shock, even under a milder economic scenario, according to Chief Economist Philip Lane comments reported by Reuters.

Source  Fxstreet1781786801

Canada Employment Insurance Beneficiaries Change (MoM) declined to -0.5% in April from previous 0.4%

Source  Fxstreet1781786462
United States Initial Jobless Claims dropped to 226K last week

According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance shrank to 226K for the week ending June 13.

Source  Fxstreet1781786071

United States Continuing Jobless Claims above expectations (1.8M) in June 5: Actual (1.81M)

Source  Fxstreet1781785841

United States Philadelphia Fed Manufacturing Survey registered at 10.3 above expectations (10) in June

Source  Fxstreet1781785809

Canada Industrial Product Price (MoM) below expectations (1.8%) in May: Actual (1.2%)

Source  Fxstreet1781785804

United States Initial Jobless Claims above forecasts (225K) in June 12: Actual (226K)

Source  Fxstreet1781785804

United States Initial Jobless Claims 4-week average: 223.25K (June 12) vs 219K

Source  Fxstreet1781785804
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