International Markets Update

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The Federal Reserve, following their latest two-day policy meeting, noted that the U.S. economy and job market continue to strengthen, thus boostin.....

Summary

  1. The Federal Reserve, following their latest two-day policy meeting, noted that the U.S. economy and job market continue to strengthen, thus boosting bets that it will hike interest rates in September.
  2. US GDP growth accelerated in the second quarter as solid consumer spending offset the drag from weak business spending on equipment, suggesting a steady momentum.
  3. The government of Greece offered to meet most of the demands made by creditors in exchange for a bailout of €53.5bn.
  4. Consumer prices in the Eurozone barely rose from a year earlier in July, signaling that the ECB’s bond purchase program has yet to have its desired effect.
  5. China's economy grew an annual 7% in Q2, steady with the previous quarter and slightly ahead of forecasts.
  6. Higher food prices pushed India's retail inflation to an eight-month high in June, dampening hopes of an interest rate cut by the Central Bank in the near future.
  7. Brazil raised interest rates to a nine-year high, but signaled it was ending one of the world's most aggressive tightening cycles despite fears a weaker local currency could stoke an already high inflation.

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International Markets Update

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