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Latest stock market data plus index, currencies, and commodities performance
US Q2 GDP report rules out the small chance of a July interest rate cut
Although the main factors behind today's better GDP numbers look unsustainable going forward, the report should put to bed the suggestions made recently that the Fed should cut interest rates this month.
UK PMI surveys raise further doubts about an August rate cut
Although today's reports showed output prices to be slowing, robust outlooks for both growth and employment will do nothing to assuage BoE concerns about the strength of underlying inflationary pressures going forward.
US June retail sales numbers show consumer spending continuing to weaken
Today's report shows consumer spending continuing to slowly soften, presenting no obstacle to hold the Fed back from cutting interest rates.
Stronger US PPI numbers still allow the Fed to cut interest rates in September
Today's PPI numbers appear at first glance to rule out any suggestion of a first interest rate cut being delivered in September. But as with all such reports, the devil is in the detail.
US CPI report gives the Fed the green light to start cutting interest rates
Today's report showed disinflationary pressures to be widespread across the US economy. Reasons for the Fed to delay cutting rates are becoming few and far between.
US PCE and personal spending numbers open the door wider for a September interest rate cut
With core PCE growing increasingly slowly while personal spending stalls, the case for cutting interest rates continues to strengthen.
UK public sector borrowing starts the new fiscal year on a slightly brighter note
Borrowing in the new fiscal year is so far running lower than forecast. But unrealistic spending plans going forward mean the next government faces a fiscal 'pandora's box' of tax rises and/or borrowing more if already creaking public services are not to be cut back further.
US inflationary pressures continue to weaken in May
Today's CPI numbers will encourage the markets to believe that inflationary pressures are once again on a weakening path. But the Fed is still likely to signal this evening that more such data will be needed before it will counter cutting interest rates.
US employment report once again surprises on the topside
Today's US employment report once again painted a picture of enduring strength. But signs of weakness are growing, leaving open the prospect for one or more interest rate cuts to still be delivered this year.
US PCE numbers suggest underlying inflation is still heading lower
But while providing assurance to the Fed that inflationary pressures remain on a downwards path, further evidence of this will be needed before the FOMC will commit to cutting interest rates.
