4 August 2023,06:28
Weekly Outlook
4 August 2023, 06:28
The Week Ahead: Week of 7 August (GMT+3)
In June, inflation rebounded, rising by 0.3% month-on-month, matching the preliminary figure. Currently, the market is anticipating the preliminary release of Germany’s Consumer Price Index (CPI) for July to stay at 0.3%. Following the ECB’s rate hike decision on 27th July, investors are expecting a slowdown in inflation in Germany subsequently.
The consumer price index increased slightly by 0.2% last month. These figures could provide the Federal Reserve with some relief in its efforts to combat inflation, as the inflation rate is expected to keep declining.
The May 2023 monthly real gross domestic product (GDP) has seen a decline of 0.1% after experiencing growth of 0.2% in April 2023. While investors remain hopeful for a potential economic rebound in June, the country still grapples with challenges posed by high inflation, stealth tax hikes, and rising interest rates impacting economic activity.
In June, U.S. producer prices showed minimal growth, and the yearly increase in producer inflation was the smallest in almost three years. Market expectations suggest that the dollar may face pressure due to the declining reading of PPI. However, the dollar could regain its strength as the US economy is still forecast to outperform the rest of the world.
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