Source: Japan Cabinet Office Japan’s economy expanded better than expected in the second quarter, marking a rebound as the country recovered from the initial hit of the COVID-19 pandemic. The gross domestic product (GDP) grew 0.3% quarter-on-quarter, surpassing the market consensus of 0.2%.The latest reading compares with the -0.9% reading in the first quarter and -7.9% … [Read more...] about Japan Rebounds With Faster-than-Expected Economic Growth in Second Quarter
Forex News
GBPUSD Outlook: Bullish Patterns Ahead of UK Data Dump
The GBPUSD rose on Friday after the weak US consumer confidence data. The pair ended the week at 1.3870, which was slightly higher than the day’s low at 1.3972. UK economic data The GBP/USD will be in focus this week as the UK is set to publish several important economic numbers. With the UK economy recovering, analysts anticipate that the country’s labour market … [Read more...] about GBPUSD Outlook: Bullish Patterns Ahead of UK Data Dump
Consumer Confidence Slips to Nine-Year Low in August as Delta Variant Spreads
Source: University of Michigan Consumer confidence fell to a nine-year low in August, as sentiment was dampened by the resurgence of the COVID-19 pandemic due to the spread of the delta variant. The Index of Consumer Sentiment fell to 70.2 in August. This is the lowest since December 2011’s 69.9.The latest reading compares with July’s 81.2 and 74.1 in August 2020.Current … [Read more...] about Consumer Confidence Slips to Nine-Year Low in August as Delta Variant Spreads
US Import Price Growth Slows to Eight-Month Low in July. Export Prices Slightly Up
Source: Bureau of Labor Statistics US import price growth slowed to an eight-month low in July, while export prices grew slightly faster during the month. Import prices grew by 0.3% in July. This is the slowest monthly growth in eight months since prices climbed 0.1% in November 2020.Year-on-year import prices increased by 10.2%. This is slower than June’s 11.3%, but a … [Read more...] about US Import Price Growth Slows to Eight-Month Low in July. Export Prices Slightly Up
Euro Area Trade Surplus Narrows in June as Global Demand Recovers
Source: Eurostat The Euro area trade surplus narrowed year-on-year in June, as global demand continued to recover amid the easing of COVID-19 restrictions in more territories. The trade surplus narrowed to €18.1 billion in June from €20.0 billion the same month in 2020. This compares with €12.2 billion in May.Exports climbed 23.8% to €209.9 billion from €169.6 billion … [Read more...] about Euro Area Trade Surplus Narrows in June as Global Demand Recovers
