| Today's Economy
LatAm Daily Briefing: Uruguay’s Central Bank Confirms Tightening Monetary Policy The bank adopts a contractionary policy after inflation rises above the policy rate for the first time. Capital Market View: Supersize It June CPI puts a 100-basis point rate hike on the table. Europe Daily Briefing: Euro Zone Industry Still Strong in May The euro zone’s industrial output surprised on the upside. Asia-Pacific Daily Briefing: 50 is the Magic Number The Bank of Korea and the Reserve Bank of New Zealand increased their policy rates by 50 bps. » VIEW MORE TODAY'S ECONOMY
Commentary
Inflation Persistence Seen Worse for Some Asia-Pacific Economies Country-specific differences in economic growth, import dependencies, natural resources, and government and central bank policies are likely to influence outcomes. U.S. Spending Shift Is Gradual, Inconsistent Consumers who went strong for buying goods during the pandemic are reopening their wallets for services, but inflation clouds the partial reversal. U.S. Chartbook: A Rose-Colored Economy Employment indicators reinforce the notion that the economy is on strong footing. U.S. Weekly Highlights and Preview, July 11, 2022 Fed officials don’t seem concerned about a recession. » VIEW MORE COMMENTARY
Today's Economic Indicators
Germany
Consumer Price Index
Jun. 2022: 7.6% y/y
Germany’s year-on-year inflation rate moderated to 7.6% in June, from 7.9% in May. France
Consumer Price Index
Jun. 2022: 5.8% y/y
France’s year-on-year inflation rate accelerated to 5.8% in June from 5.2% in May. Spain
Consumer Price Index
Jun. 2022: 10.2% y/y
Spain's consumer price index rose by 10.2% in yearly terms in June after an 8.7% gain in May. United Kingdom
Monthly GDP
May. 2022: 0.5% m/m
U.K. Euro Zone
Industrial Production
May. 2022: 0.8% m/m
Industrial production in the euro zone increased by 0.8% in May, adding to an upwardly-revised 0.5% rise in April. United States
MBA Mortgage Applications Survey
July 08: -1.7%
Mortgage application volume slid 1.7% in the week ended July 8, marking consecutive weeks of declines. Brazil
Retail Sales Index
May. 2022: -0.2% y/y
Sales in retail stores faced a hiccup in annual terms but posted a mild monthly advance in May as election spending accelerates. United States
Consumer Price Index
Jun. 2022: 1.3% m/m
The June U.S. consumer price index increases the odds that the Federal Reserve will raise the target range for the fed funds rate by 75 basis points later this month. Canada
Monetary Policy
Jul. 2022: 2.50%
The Bank of Canada is slamming on the brakes. Australia
Datium Insights - Moody’s Analytics Used Vehicle Price Index
Jun. 2022: 15.7% y/y
Used-vehicle prices decreased for the first time since September 2021. United States
Oil Inventories
July 08: 427.1 mil barrels
A larger-than-expected increase in crude oil inventories should put some downward pressure on oil prices. United States
Moody’s Analytics Policy Uncertainty Index
July 08:
United States
Moody's Analytics Inflation Expectations Pulse
July 10: 2.78%
Inflation expectations slid again in the week ended July 10. Canada
RPS House Price Index
Jun. 2022:
United States
Beige Book
Jul. 2022:
The U.S. economy advanced at a modest pace, according to Beige Book anecdotes collected from the 12 Federal Reserve districts. United States
Treasury Budget
Jun. 2022: -$88.8 bil
The end of federal pandemic aid, along with a strong tax filing season in April, will allow the U.S. Chile
Monetary Policy
Jul. 2022:
Australia
Employment Situation
Jun. 2022:
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