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Australian Household Spending Up Modestly in June as EOFY Sales Disappoint, Says CommBank

Australian household spending rose 0.3% in June, with end-of-financial-year sales less impactful than in 2025, as inflation and higher-for-longer interest rates weighed on consumers, according to a Thursday report by Commonwealth Bank of Australia.The bank said gains were recorded across 10 of the 12 spending categories, led by utilities and education, while household goods had a soft month despite the sales period. Retail spending eased to 0.2% in June from 0.6% in May.Hospitality spending rose just 0.1% in June versus 0.9% in May, with sporting events hosted through the month doing little to boost growth, the report added. Recreation spending decelerated sharply from 2.3% in May to just 0.2% in June.Belinda Allen, CommBank head of Australian economics, said the softening is broadly in line with expectations that household spending will slow over the remainder of the year.Regional household spending growth accelerated in the year to June, with regional Queensland and regional Western Australia as the strongest performers, while metro New South Wales, the ACT, and metro Victoria as the weakest, per the report. Spending growth was strongest among those aged 65 and above at over 10% annually over the 12 months to June.

ASX 200

International28d ago

Market Chatter: Foreign Investors Withdraw Record Funds From South Korean Securities in June

Foreign investors pulled out a record $30.72 billion from Korean securities in June, which comprised stocks and bonds, Pulse News reported Wednesday, citing Bank of Korea data.The pullout marked the fifth straight month of net portfolio outflows since February, according to the report.The outflow value in June was the second largest on record, after a $36.55 billion outflow in March, and was equivalent to about 47.6 trillion won based on the end-June exchange rate of 1,548.7 won per U.S. dollar, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^KOSDAQKOSPI

International28d ago

China's M2 Money Supply Growth Slows to 8% in June

China's broad M2 money supply grew 8.0% year over year to 356.71 trillion yuan as of the end of June, according to data from the People's Bank of China on Wednesday.The growth rate was softer than the 8.6% expansion recorded in the previous month. It missed the consensus forecast of 8.5% tracked by Investing.com.Meanwhile, narrow money supply (M1) rose 4.0% year over year to 118.48 trillion yuan.

Shanghai Composite^SZSE

International28d ago

Australian Consumer Inflation Expectations Fall in July

Australia's consumer inflation expectations fell by 0.8 percentage points in July to 4.7%, according to the Melbourne Institute Survey of Consumer Inflationary Expectations on Thursday.Trimmed mean inflation expectations, after spiking in April, have moderated for the third consecutive month, while wage expectations have remained unchanged for the past eight months, the survey added.

ASX 200

International28d ago

China's New Yuan Loans Rise to 1.6 Trillion Yuan in June

China's banks extended 1.61 trillion yuan in new yuan loans in June, according to data from the People's Bank of China on Wednesday.The figure missed the consensus forecast of 1.95 trillion yuan tracked by Investing.com, but was significantly higher than the 520 billion yuan extended in the previous month.In the first half of 2026, new yuan loans totaled 10.72 trillion yuan, down from 12.92 trillion yuan in the same period a year earlier.

Shanghai Composite^SZSE

International28d ago

Bank of Korea Raises Interest Rates to 2.75%

The Bank of Korea raised its benchmark interest rate by 25 basis points to 2.75%, according to a Thursday statement.The move matched the consensus in a Reuters poll, with 36 of 37 economists forecasting a 25-basis-point increase to 2.75%.The rate hike marks the central bank's first increase in three and a half years.

^KOSDAQKOSPI

International28d ago

India Books $4.4 Billion Balance of Payments Deficit in May

India's overall balance of payments recorded a deficit of $4.4 billion in May, swinging from a surplus of $4.4 billion in the same month last year, the Reserve Bank of India said in a Wednesday release.This marked the second straight month that the country booked a deficit.India's current account balance also swung to a deficit of $2 billion in the month from a surplus of $700 million a year earlier.Net merchandise trade deficit widened to $27.9 billion in May from $22.6 billion a year earlier. The figure was unchanged from a month earlier.Net services surplus edged down to $15.7 billion from $15.8 billion a year prior and from $18.6 billion in April.

^BSENifty 50

International28d ago

Japan's Foreign Visitor Arrivals Extend Decline as Chinese Tourist Numbers Slump

Japan welcomed 3.15 million foreign visitors in June, down 6.8% from a year earlier and marking the third consecutive month of decline, according to data from the Japan National Tourism Organization.The decline was mainly driven by a sharp drop in Chinese arrivals, which plunged 57.3% year over year to 340,700 from 798,001.Partly offsetting the weakness, visitor arrivals from South Korea rose 7.8%, while those from Taiwan and the U.S. increased 14.6% and 2.7%, respectively.For the first six months of 2026, Japan recorded 21.1 million foreign visitor arrivals, down 2% from a year earlier.Chinese tourist arrivals fell 56.4% during the period after Prime Minister Sanae Takaichi's remarks on Taiwan prompted Beijing to advise its citizens against traveling to Japan.

Nikkei 225

International28d ago

Australian Property Vendors Move Away From Auctions as Buyer Demand Cools, Cotality Says

Australian property vendors are moving away from auctions due to decreased buyer demand, according to Cotality's Housing Chart Pack released on Thursday.Recent data shows that the national share of auctions to new listings fell from nearly 45% in November 2025 to just over 30% in June.The decline in sales volume is attributed to rising interest rates, cost of living, uncertainty, and policy changes.The downturn in the auction market indicates deeper shifts in underlying market dynamics beyond the typical seasonal trend, Cotality Australia's Head of Research, Gerard Burg, said.The shift from auctions to private sales is evident in Sydney and Melbourne, while other capitals like Brisbane and Adelaide have also shown a growing preference for private sales as vendors respond to declining demand, according to Cotality.

ASX 200

International29d ago

June US Retail Sales Expected to Rise by 0.2%, Down 0.1% Excluding Motor Vehicles

US retail sales are expected to rise by 0.2% in June after a 0.9% gain in the previous month, according to a survey compiled by Bloomberg, as gasoline station sales are forecast to decline in June but auto sales are expected to increase despite lower prices.Prices of new vehicles held steady while used cars and truck prices fell 0.2% in the monthly consumer price report released on Tuesday, but unit sales increased, so a sales gain in Thursday's report is likely.The data are scheduled to be released at 8:30 am ET Thursday.Sales outside of motor vehicles are also expected to fall by 0.1% after a 0.8% gain in May, with gasoline station sales forecast to plunge after a 3.4% surge in May. Gasoline prices fell by 9.7% in June after a 7.0% gain in the previous month.Sales excluding both vehicle sales and gasoline are expected to rise by 0.4%, slower than a 0.5% gain in May but still an indication of underlying strength.Excluding the motor vehicle, building materials, gasoline station and food services categories, the so-called "control group" is forecast to rise by 0.5% after a 0.7% gain in May.

International29d ago

Daily Roundup of Key US Economic Data for July 15

The PPI fell by 0.3% in June following a 0.6% gain in May, with energy prices down 6.4% and food prices down 0.6%.Core prices, which exclude food and energy, rose by 0.2% after a 0.1% increase in the previous month.The year-over-year rise in producer prices slowed to 5.5% from 6% in the prior month, but core prices accelerated to 4.7% year-over-year from a 4.6% year-over-year increase in the previous month.The Empire State index rose to 15.6 in July from 5.7 in June, suggesting more widespread expansion for the first manufacturing reading for the month.The Mortgage Bankers Association reported a 2.7% decline in mortgage applications in the week ending July 10 after a 2.2% drop in the previous week. New home applications fell due to an increase in mortgage rates to the highest level since August 2025, while refinancing activity improved.Total crude oil inventories fell by 4.7 million barrels in the week ended July 10, with commercial oil inventories down 1.7 million barrels and stocks in the US Strategic Petroleum Reserve down 3 million barrels. Gasoline inventories decreased last week while distillate inventories increased.

International29d ago

Federal Reserve Watch for July 15: Warsh Repeats FOMC Will Take Ownership of Inflation, Act as Needed

Fed Chairman Kevin Warsh (voter) repeated that the FOMC will take ownership of inflation and take actions if needed to bring it back toward the 2% goal but did not provide forward guidance.Warsh again said that monetary policy caused inflation through its policy and that would not be the case under his leadership, adding that he will make policy decisions independent of political influence. He also noted that AI will likely raise prices but should be followed by productivity gains that will slow that price inflation.Fed Governor Lisa Cook (voter) said it was appropriate to hold interest rates steady at its last meeting to see how inflation progresses, noting that risks continue to be weighted toward higher inflation. She added that she is prepared to act if she does not see signs of disinflation in the near term.New York Fed President John Williams (voter) said that economic growth is solid, and the labor market is stable but noted that inflation remains above the Fed's 2% goal and needs to be brought down. Williams added that the stance of monetary policy is "well positioned" to deal with inflation, which he expects to slow in coming quarters.The Fed's Beige Book showed slight to moderate growth in the US economy over the recent period, roughly in line with the previous Beige Book report. Consumer spending was solid overall, and tourism got a boost from the World Cup, while hiring was little changed from the previous period and inflation growth was slower, but some districts still reported brisk price gains.

International29d ago

US Economy Expanded at 'Slight to Moderate Pace,' Beige Book Shows

The US economy expanded at a "slight to moderate pace" in 11 of the 12 Federal Reserve districts, while the other district reported no change, the Federal Reserve's most recent Beige Book update released Wednesday showed.This was little changed from the previous Beige Book, the Fed said.Consumer spending was slightly higher, but headwinds from higher prices pulled down discretionary spending. Visitors for the World Cup boosted tourism.There was little change in auto sales, but spending on repairs grew as consumers held onto their vehicles.Manufacturing production grew modestly to moderately in most districts, the Fed reported, though supply chain issues were more common.Employment was up on balance, with five districts reporting growth and seven reporting little change, an improvement from the previous Beige Book, according to the Fed. Skilled workers remained hard to find. Wage growth was modest to moderate.Prices were up moderately, with nine districts reporting moderate growth, two reporting robust growth and one seeing slight growth. Price growth was the same or slower in all districts, according to the Fed."Expectations for price growth over the coming months varied across Districts, with contacts in some expecting inflation to continue at its current pace, while contacts in others expected inflation to slow, in part due to falling fuel prices," the Beige Book summary showed.The summary was compiled by the Chicago Fed based on information on or before July 6.

International29d ago

Economic Activity Up at 'Slight to Moderate Pace' in Almost All Fed Districts, Beige Book Shows

International29d ago

OECD Expects UK Economic Activity to Slow in Near Term Amid Energy Price Surge, Tight Fiscal Policy

UK economic activity is projected to slow in the near term, driven by the supply shock from the energy price surge caused by the Middle East war and tight fiscal policy, among other factors, according to a Wednesday report.The Organisation for Economic Co-operation and Development expects UK gross domestic product to grow 0.9% in 2026 before picking up to 1.1% in 2027.Meanwhile, annual headline inflation is estimated to hit 3.7% in 2026, owing to renewed global energy inflation, before easing to 2.4% in 2027. Annual core inflation is forecast to reach 3.1% before falling to 2.7% the following year.The OECD expects UK monetary policy "to look through the energy shock in 2026 and continue easing towards a neutral stance in 2027, reducing but not eliminating the drag on growth as fiscal policy will remain restrictive."

FTSE 100

International29d ago

June US Producer Price Index Declines, Core PPI Up, Year-Over-Year Rate Slows

The US Producer Price Index fell by 0.3% in June following a 0.6% increase in May, below the expectations for a flat reading in a survey compiled by Bloomberg as of 7:25 am ET.Energy prices fell by 6.4% in the month following an 8.4% gain in the previous month. Gasoline prices declined by 12%, while diesel fuel decreased by 18%. Food prices decreased by 0.6% after a 0.5% gain in May.After excluding food and energy prices, core PPI rose by 0.2%, slower than the 0.3% gain expected and following a 0.1% gain in the previous month.PPI was up 5.5% year-over-year in June, slower than a 6% gain in May, while core PPI increased by 4.7% year-over-year, up from 4.6% rate in May. The year-over-year rate for PPI excluding food, energy and trade services remained at 5.1%.The monthly producer price index, or PPI, reported by the Bureau of Labor Statistics measures the index level of prices received by producers for products such as energy, food, vehicles, and services. The core measure, excluding the volatile food and energy components, is a measure of underlying inflation.Sharply higher prices are a sign of demand, but an increase at the producer level without a pass-through to the consumer level would suggest smaller profits at the retail level. As a result, the stock reaction depends on the movements at both levels. Higher inflation is generally a negative for bonds.

International29d ago

July Empire State Manufacturing Index Rises More Than Expected

The New York Federal Reserve's Empire State manufacturing index rose to 15.6 in July from 5.7 in June, compared with a smaller expected increase to a reading of 9.2 in a survey compiled by Bloomberg.The Empire State index is the first manufacturing sector reading for July and suggests more widespread expansion.The new orders, shipments, and employment readings all increased in the month, while the prices paid reading declined but still pointed to significant growth.

International29d ago

July Empire State Regional Manufacturing Index 15.6 Vs. 9.2 Expected, 5.7 Prior

International29d ago

June US Core PPI Rises 0.2% Vs. Expected 0.3% Increase, Prior 0.1% Gain

International29d ago

June US PPI Falls 0.3% Vs. Expected Flat, Prior 0.6% Gain

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