Author Archive

Lim Hui Jie & Dylan Butts@IN/DYLAN-B-7A451A107

KEY POINTS

• The au Jibun Bank reported that Japan’s composite purchasing managers’ index fell to 49.7 in June.
• the Caixin services purchasing managers’ index showed that China’s services sector expanded for the 18th consecutive month.

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Jenni Reid & Holly Ellyatt@HOLLYELLYATT

LONDON — European stocks are expected to open in mixed territory Tuesday, with market participants looking ahead to the release of the euro zone’s latest inflation data.

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Gold prices edged higher on Monday, buoyed by some short covering from investors with focus turning to U.S. jobs data due later this week that could offer more cues around interest rate cuts by the Federal Reserve.

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Lim Hui Jie & Dylan Butts@IN/DYLAN-B-7A451A107

KEY POINTS

• Traders in Asia assessed South Korea’s inflation rate which came in at 2.4% for June, missing expectations of economists polled by Reuters who had predicted it at 2.7%.
• The Japanese yen weakened to as much as 161.67 against the dollar, staying at 38-year lows.

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Holly Ellyatt@HOLLYELLYATT

LONDON — European stocks are expected to start the new trading week higher as investors in the region digest the results of the first round of France’s snap parliamentary election.

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Gold prices steadied on Friday after a key U.S. inflation report was broadly in line with expectations, boosting hopes that the Federal Reserve could cut interest rates by September.

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Lim Hui Jie

KEY POINTS

• China released its official PMI figures on the weekend, with its manufacturing PMI coming in at 49.5, unchanged from May and marking its second straight month in contraction territory.
• On Monday, Japan revised its first-quarter GDP contraction to 2.9% year on year, from 1.8% reported earlier.

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Gold prices rose more than 1% on Thursday from the over two-week low touched in the previous session, as the dollar softened and the spotlight shifted to key U.S. inflation data for clues on the Federal Reserve’s policy path.

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Lim Hui Jie

KEY POINTS

• Japan’s industrial production grew 2.8% month on month in May, beating expectations of 2% from economists polled by Reuters.
• Headline inflation for Japan’s capital city of Tokyo accelerated to 2.3% year on year in June, up from 2.2% in May.
• The yen hit fresh 38 year lows against the greenback, weakening to as low as 161.27 against the dollar.

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Karen Gilchrist@_KARENGILCHRIST & Holly Ellyatt@HOLLYELLYATT

LONDON — European stocks opened mixed Thursday as global inflation worries continue to rattle markets.

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