Global Macro Analysis

Japan Q4 2025 Outlook

UK Q4 2025 Outlook

Technical Analysis Q4 2025 Outlook

Crypto Q4 2025 Outlook

Oil Q4 2025 Outlook

Gold Q4 2025 Outlook

The global gold rush: why are central banks turning to gold?

Central banks boost their gold reserves

Why UK inflation is diverging from the euro area

UK inflation surged to 3.8% in July 2025, more than double its level a year ago, while the euro area remains close to the ECB’s 2% target. Structural factors—from energy pricing to wage growth and tax policies—explain the widening gap.

Global inflation shifts from global to local drivers as emerging markets lead slowdown

Price growth worldwide is increasingly shaped by domestic conditions rather than synchronized global forces such as tariffs. Services costs are rebounding in the US, decelerating in the euro area, and remaining persistently high in the UK.

US outlook Q3 2025

As Q3 2025 begins, the Fed holds rates steady amid mixed economic data, inflation cooling slowly, and tariff uncertainty clouding the path to potential easing by September.