EU inflation is still high

The annual inflation rate in the Euro Area was confirmed at a record of 9.1% in August of 2022, compared to 8.9% in July. The highest contribution came from energy again. The Eurodollar holds around the parity level.

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PMI falls in several countries

Eurozone Purchasing Managers’ Index (PMI) fell to 48.9 in September of 2022 from 49.8 in August, and Germany Services PMI also dropped to 45.4 from 47.7. UK Services PMI also falls from 50.9 to 49.2, but France surprises with a rebound from 51.2 to 53.

Beyond Meat COO arrested for battery

Doug Ramsey, the COO of Beyond Meat, was detained this weekend. Ramsey is accused of biting a man’s nose in a parking garage in Arkansas following a college football game. He was lodged in the Washington County jail after being accused of third-degree battery.

Spain’s trade deficit rose sharply

Spain’s trade deficit increased from EUR 1.60 billion in July 2021 to EUR 6.56 billion in July 2022. Spain’s imports rose 37.1% to an almost record high. This created the greatest trade deficit since December 2008, led by energy products, capital goods, non-chemical semi-manufactures, food, drinks and tobacco.

EU inflation is still high

The annual inflation rate in the Euro Area was confirmed at a record of 9.1% in August of 2022, compared to 8.9% in July. The highest contribution came from energy again. The Eurodollar holds around the parity level.

Biden with $900 million announcement

Today, President Joe Biden will announce the approval of $900 million funding for building EV charging stations. It should take place in 35 states and is a part of $1 trillion infrastructure bill that was approved in November of last year. Over the next 5 years about $5 billion will be granted to states to build thousands of EV charging stations.

Czech’s inflation falls after 14 months

In August 2022, the annual inflation rate in the Czech Republic decreased for the first time in 14 months to 17.2% from 17.5%, well below the market expectations of 17.6%. So it looks like 7% interest rates are starting to affect their inflation, and it’s coming back down.

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European stock indices tumble

The sell-off on major European markets continues on Friday as investors fear the tightening wave of monetary policy would harm global growth. After dropping below 400 points on Thursday for the first time since January 2021, the STOXX 600 is down approximately 0.7%. DAX 40 is down 0.8%, setting a new two-month low.

PMI falls in several countries

Eurozone Purchasing Managers’ Index (PMI) fell to 48.9 in September of 2022 from 49.8 in August, and Germany Services PMI also dropped to 45.4 from 47.7. UK Services PMI also falls from 50.9 to 49.2, but France surprises with a rebound from 51.2 to 53.

Lumber is down 70% in 6 months

The housing sector is witnessing a dramatic slowdown and rising rates. As a result, lumber futures fell by 7% to $450, a level last seen in September 2021 and down nearly 70% from their March peak. In addition, August saw the seventh straight month of existing house sales declines, reaching their lowest level since May 2020.

EUR/USD below 0.98

The eurodollar fell under $0.98 for the first time in 20 years. This is just two days after Fed increased its interest rates by 75 bps and strengthened the dollar.

Binance creates Global Advisory Board

Binance announced the creation of its new Global Advisory Board. Its purpose will be to advise Binance on some of the most complex regulatory, political, and social issues the cryptocurrency industry faces amid the rapid growth and evolution of the ecosystem.

BoE raised rates by 50 bps

The Bank of England joined Federal Reserve and raised interest rates as expected by 50 bps to fight high inflation. This marks the 7th consecutive rate hike, pushing borrowing costs to the highest since 2008.

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GBP/USD trades weaker following BoE rate hike
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GBP/USD trades weaker following BoE rate hike

The Pound has failed to capitalize on today's BoE decision. dropping to daily lows during the US session.

How are central banks behaving now?

Central banks around the world are now announcing the results of their meetings. There were surprises in Switzerland, for example.
Here are 3 reasons why stocks may continue to dive
SP500
-1.71%

Here are 3 reasons why stocks may continue to dive

2022 brought a lot of pain to investors as central banks hike rates & battle inflation. Is the fight over or are we just halfway through?
FOMC showed absolute hawkishness – what it means in practise ★ Premium This content is only available for registered users - sign up for free now
SP500
-1.71%

FOMC showed absolute hawkishness – what it means in practise

In our analysis aimed on the September FOMC meeting, we focused on current market pricing, rates, economic projections, dot plot and markets.