Financial News

Euro area PMIs unlikely to have changed majorly in July

This week, European Central Bank President Draghi made reference to the “robust recovery” undergoing in the euro area. The stock market was spooked by the more neutral assessment of the euro area’s economy.

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U.S. consumer confidence measure likely to have dropped in July

The U.S. Conference Board’s overall consumer sentiment measure had risen 1.3 points in June to 118.9, as consumers’ positive assessment of the present situation countered falling expectations for the future. Rebound in the job market was a main factor in consumers’ positive present attitude.

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Strong demand fundamentals to encourage more home building in U.S., says Wells Fargo

U.S. existing home sales are likely to have dropped slightly in June. In May, resales had risen 1.3 percent to a 5.62 million annualized pace. Sales of existing homes are constrained by unusually lean inventories of homes for sale that has made for a quite competitive market for would-be homebuyers across much of the nation.

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SARB may cut rates again if inflation outlook does not deteriorate, says Commerzbank

The South Africa Reserve Bank surprisingly lowered its key interest rate on Thursday to 6.75 percent from 7 percent. However, the decision was not unanimous as only four out of six council members voted for the cut.

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Canadas economy likely to have grown 0.2 pct sequentially in May, says TD Economics

The Canadian economy is expected to have risen in May. According to a TD Economics research report, the industry level GDP is likely to have grown 0.2 percent in May, matching the prior month.

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