Market Updates.

This morning, UK inflation came in for July at 2.2%, just above the Bank of England’s 2% target.

Eurozone GDP for the second quarter of 2024 has increased by 0.3% in comparison to the previous quarter and surpassed economists’ expectations of a 0.2% rise.

On Monday, US markets opened on a high note, following President Joe Biden’s announcement on Sunday that he would be withdrawing from the US presidential race. […]

This morning, UK inflation came in for the month of June unchanged.

Despite the UK hitting the Bank of England’s 2% inflation target in May, retail sales data indicated a drop in purchases last month of 0.2% year-on-year in comparison to the 4.9% growth in June 2023.

Yesterday morning, Eurozone inflation came in showing a slower growth of 2.5% in June, in contrast to 2.6% in May.

This week, hawkish comments from the Bank of Japan’s (BoJ) policymakers have markets wondering whether their quantitative tightening plan being unveiled in July will be bigger than originally thought.

Earlier this morning, the latest UK CPI report revealed inflation has eased to the Bank of England’s 2% target on year in May, down from 2.3% in April – something only last seen back in July 2021.

Well, we’ve already seen the ECB cut rates last week by twenty five basis points, and this week the Bank of England were given some important data to digest ahead of their next interest rate decision meeting on the 20th of June.

This week markets have digested plenty of election news.