Weekly Fundamental Bulletin: Japan GDP, BoE & US Payrolls

Last Week’s Highlights

US Durable Goods Orders Rise in June

Durable goods orders in the US rose by 7.3% in June, marking a sustained rebound after the plunge earlier this year.

Data from the Commerce Department also showed a downward revision of May’s data which now stands at 15.1%.

Economists hoped an increase of 7.2% for June, but data beat estimates by a small margin. Orders for transportation drove the increase, rising 20% in June following a 78.9% increase in May.

The official data showed that orders for motor vehicles and parts jumped 85.7% which offset the declines for aircraft and parts orders.

Germany’s Business Confidence Improves for a 3rd Consecutive Month

Business confidence in Germany, Europe’s largest economy, continued to rise in July. Data showed that businesses were more satisfied with the current situation.

However, there was some optimism for the months ahead. Data from the German Ifo institute showed that business confidence rose to 90.5 in July, up from 86.3 in June.

Economists forecast that business confidence would rise to 89.3 during July. The assessment for the current situation also strengthened during the month.

China’s Industrial Profits Rise Faster Than Expected

Industrial profits in China rose at a faster pace in June following the easing of restrictions. Data from the National Bureau of Statistics showed that industrial profits rose by 11.5% on a yearly basis in June.

This follows a 6% increase in May. Profits were recorded in steel, which rose by 35.3%. During the first half of the year, however, industrial profits fell by 12.8% comparing to the same period last year.

Fed Keeps Interest Rates Steady, Maintains a Dovish Outlook

The US Federal Reserve Bank held its monetary policy meeting on Wednesday. As widely expected, the central bank left interest rates unchanged.

It also said that it was committed to maintaining the current liquidity. This means that the central bank will continue with its bond purchases.

1 2 3
View single page >> |

Disclaimer: Orbex LIMITED is a fully licensed and Regulated Cyprus Investment Firm (CIF) governed and supervised by the Cyprus Securities and Exchange Commission (CySEC) (License Number 124/10). ...

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.