Category Archives: Weekly Outlook

On Tuesday evening (GMT+3), the US JOLTs Job Openings data was released, showing 10.689 million job openings, lower than the expected 11 million and the previous month’s value of 11.303 million. This is also the lowest in 9 months.  Robert Frick, corporate economist at Navy Federal Credit Union, notes: “Fewer openings likely mean the frothContinue Reading

With the most recent US GDP figures (-0.9%) showing a second back-to-back negative reading, many are saying that the US has entered a recession. This comes after another recession indicator, an inversion of the US Treasury yield curve, began flashing several times starting in April. Most recently, interest on the 2-year note has been higherContinue Reading

Stocks of Apple slid 2% to $147.07 on Monday as the world’s most valuable company announced that it would be slowing hiring and spending growth in 2023 as recession concerns hit the market. Alphabet stock is also down over 2%, a week after it announced that Google would slow hiring for the remainder of 2022.Continue Reading

At 15:15 (GMT+3) on Wednesday, the European Central Bank will be making its interest rate decision. The central bank is expected to hike rates, the first time it will do so in 11 years. For the past 8 years, interest rates in the EU have been negative – but rampaging inflation has made the EuropeanContinue Reading

Elon Musk has pulled out of a protracted and tumultuous bid to purchase social media platform Twitter, making the announcement through an SEC filing. The deal was first proposed by Musk after he revealed that he had accumulated over 9% of Twitter earlier this year. Should the deal have gone through, Musk would be payingContinue Reading

On Wednesday afternoon (GMT+3), the US Consumer Price Index (CPI) figures for June were released, showing that consumer prices grew by 9.1% year-on-year, the fastest pace of inflation growth since November 1981. This is higher than the forecast of 8.8% and May’s figure of 8.6%. Meanwhile, Core CPI increased 0.7% month-on-month, higher than analyst estimatesContinue Reading

On Thursday evening (GMT+3), the US Initial Jobless Claims data was released, showing that 235,000 people filed for unemployment insurance for the first time in the week of July second. This is the highest since January this year, and up from the forecasted 230,000 and the previous month’s 231,000. Continuing claims, whose data is releasedContinue Reading

On Wednesday (GMT+3), the US Energy Information Administration reported a decrease of 2.762 million barrels in its crude oil inventories for the week of 24 June. This is more than the forecasted decrease of 569,000 barrels and the previous week’s decrease of 386,000.  Meanwhile, gasoline stocks increased by 2.6 million barrels, while production averaged 9.5Continue Reading

Fighting rampant inflation has become the Fed’s main objective, and Fed Chair Jerome Powell’s words to the US House Financial Services Committee during his semi-annual testimony might have sparked more than a few fears about a recession. Specifically, it means that the Fed might be ready to cause increased unemployment or even a recession –Continue Reading

On Wednesday afternoon, 22 June, Fed Chairman Jerome Powell made his semi-annual testimony to the Senate Banking Committee. In his testimony, Powell highlighted that the Fed was “strongly committed” to bringing down inflation and that the American economy is in a strong position to handle the continued rate hikes. However, Powell has also noted thatContinue Reading