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Saudi Annual Business Operating Revenue Up 10.6% in April

Saudi Arabia's operating revenue index climbed 10.6% year over year in April, after a 10.2% growth in March, according to preliminary data from the General Authority for Statistics released Sunday.On a monthly basis, the short-term business indicators statistics report showed that operating revenue was down 3.8%.

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International54d ago

UK Statistical Office Says Operational Systems Error to Affect Labor Market Data Release from July

The UK's Office for National Statistics expects the quality of its future Labour Force Survey data to be temporarily affected by an operational issue in May and early June, beginning from its next labor market release in July.The statistical office said Friday an operational systems error resulted in an over-allocation of telephone interviewers' time to another survey, which impacted the response levels for the labor force survey between May 3 and June 10. Some residual effects were also found to have continued until June 17.The ONS noted that the issue is now resolved and that it has taken steps to prevent it from happening again.

FTSE 100

International54d ago

RBI Minutes Show Consensus on Neutral Policy Stance

The Reserve Bank of India (RBI) released the minutes of its latest Monetary Policy Committee (MPC) meeting Friday, revealing consensus among members regarding the future path of interest rates and the central bank's policy stance.At the meeting held from June 3 to June 5, the MPC voted 6-0 to maintain the policy repo rate at 5.25% and also voted to keep the stance neutral.According to the minutes, Governor Sanjay Malhotra emphasized that India's economic situation is healthy compared with many peers, with a fast growing economy and benign inflation.Many MPC members shared concerns over the impact of the prolonged West Asia conflict on the global economy, with Nagesh Kumar, in particular, stating that the conflict is an important shock for India's economic outlook in the near term.

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International54d ago

Canadian Dollar Hits Low on USMCA Trade Review Concerns, US Dollar Gains From More Hawkish Fed Perception, Says BMO

The Canadian dollar on Thursday fell to 70.7 US cents, or above $1.413/US dollar, its lowest ebb in more than a year, said Bank of Montreal (BMO) late Thursday.The US dollar has broadly strengthened against major currencies in recent days as market expectations for the Federal Reserve policy have shifted in a more hawkish direction following Chair Kevin Warsh's first Federal Open Market Committee (FOMC) meeting, BMO added. At the same time, the greenback has benefited from robust capital inflows linked to the technology sector's continued expansion.On the other hand, the Canadian dollar remains particularly "on the defensive," BMO Chief Economist Douglas Porter wrote. On a broader view, the loonie continues to struggle, recently hovering near its weakest level against the euro since 2009.BMO added that a key factor weighing on the Canadian dollar is the uncertainty surrounding the future of the United States-Mexico-Canada Agreement (USMCA), or CUSMA as the trade agreement is known in Canada.Meanwhile, lower oil prices have provided an additional, although mild, headwind for the Canadian dollar, according to Porter. However, the loonie's response to energy markets has been notably muted as, despite the strong rally in crude prices earlier this year as a result of the Middle East conflict, the Canadian currency got little support from those upswings.

$CAD$CXY$EUR$USD

International54d ago

Italy's Annual Construction Output Up 2.7% in April

Italy's calendar-adjusted construction output index increased 2.7% year over year in April, following a revised 3% gain in March, statistics agency Istat said Friday.On a monthly basis, the country's seasonally adjusted construction output edged up 0.3%, against the revised 1.9% rise earlier.

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International54d ago

South Korea's Current Account Surplus Widens to $123.05 Billion in 2025

South Korea's current account posted a surplus of $123.05 billion in 2025, according to preliminary balance of payments data released by the Bank of Korea on Friday.The reading compared with the $99.97 billion surplus recorded in the previous year.The goods account logged a surplus of $138.07 billion, while the services account registered a deficit of $34.52 billion.The primary income account posted a surplus of $27.92 billion.

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International54d ago

South Korea's Producer Inflation Accelerates to 8.5% in May

Producer prices in South Korea increased 8.5% year over year in May, according to preliminary data from the Bank of Korea released on Friday.The reading compared with the 7.2% expansion recorded in the previous month. It beat the Trading Economics' forecast of a 7.5% growth.The performance during the month was driven primarily by manufacturing producer prices, which rose 13.3% year over year, sharper than the 11.8% jump the previous month.

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International54d ago

Australia May Labor Force Data Expected to Bounce Back After April's Downside Surprise, Says Westpac

Westpac said it expects Australia's May labour force data to show a bounce-back after April's data surprised materially to the downside, possibly due to extra holiday-related weakness tied to the survey's Easter timing, though the underlying trend is looking softer, according to a Friday report by the bank.The bank said April's Labor Force Survey showed a decline in employment of 18,600 and a jump in the unemployment rate to a post-pandemic high of 4.5%, with much of the weakness possibly reflecting abnormal seasonality since the survey ran over the full Easter long weekend.Westpac forecast a bounce-back in employment of 45,000 for May, with the participation rate edging back up to 66.8%, and the unemployment rate slipping to 4.4% from 4.5%, the report added.While the employment forecast looks strong, it would only result in an average monthly gain of about 13,000 over April and May, below the 30,000 per month pace seen in the first few months of the year, the bank said.

ASX 200

International54d ago

UK's Monthly Retail Sales Climb 1.2% in May

Britain's monthly retail sales rose 1.2% in May after a revised 1% decline in April, according to data from the Office for National Statistics published Friday.Analysts expected a 0.5% increase for the month.On a yearly basis, UK retail sales jumped 3.2%, against the revised 0.1% growth previously and the expected 1.9% rise.Excluding automotive fuel, retail sales were up 1.2% month over month and 4.6% annually, following the revised fall of 0.1% and a 1.1% gain earlier, respectively. The figures compare with the consensus estimates of a 0.4% monthly growth and a 3.3% yearly increase.

FTSE 100

International54d ago

German Annual Producer Prices Up 2.2% in May

The producer prices of industrial products in Germany increased 2.2% year over year in May, following a 1.7% growth in April, the country's Federal Statistical Office said Friday.Analysts expected a 2.5% jump for the month.On a monthly basis, producer prices were 0.3% higher, against the expected 0.7% gain.

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International54d ago

UK Public Sector Net Borrowing Increases in May

Public sector net borrowing in the UK, excluding public sector banks, stood at 23.29 billion pounds sterling in May, up from the revised 23.03 billion pounds sterling earlier, according to data from the Office for National Statistics published Friday.Analysts expected 19 billion pounds for the month, according to Investing.com data.

FTSE 100

International54d ago

Lower Fuel Prices to Help Ease Australia's Annual Headline Inflation in May, Commonwealth Bank Says

Commonwealth Bank of Australia said Friday it expects Australia's annual headline inflation to soften slightly to 4.1% in May from 4.2% in April due to lower fuel prices.But despite lower fuel costs, underlying inflation will probably remain "too high," keeping the Reserve Bank of Australia on alert, Commonwealth Bank said.It added that there is still a lot of uncertainty around the extent to which businesses pass higher costs on to consumers, even after cost pass-through in April remained broadly limited."While we expect some increase in pass-through during May, the available data suggest that the more severe inflation scenarios considered in the immediate aftermath of the Middle East conflict have so far not materialized," the bank said.

ASX 200

International54d ago

Australia's May Consumer Price Index Expected to Fall 0.3%, Westpac Says

Australia's May consumer price index (CPI) is expected to fall 0.3% from the previous month, a result that would still see the annual pace of inflation rise to 4.4%, Westpac said in a Friday report.Transport is expected to be the primary drag due to lower fuel prices, alongside declines in clothing and footwear, somewhat offset by modest gains in food and housing, according to the report.Data since the release of the April CPI reading has shown some moderation in cost pressures, and the focus in May will again be on evidence of a second-round impact from elevated oil prices and energy-intensive goods, the bank said.It added that May is typically a seasonally soft month, and on a seasonally adjusted basis, Westpac expects CPI to rise 0.2%.Food prices are expected to gain 0.7%, driven mainly by a 2.9% rebound in fruit and vegetables following recent unexpected softness in the previous month. Additionally, an El Niño weather event has now been confirmed, which, combined with higher fertilizer costs, might cause larger output disruptions and create greater upside pressure to food prices this year and in 2027.Westpac cautioned that the key risk to the May forecast is delayed pass‑through, with second‑round effects potentially being slower than expected due to both policy dampening and lags in how price changes feed into the CPI.

ASX 200

International54d ago

GfK: UK Consumer Confidence Unchanged in June

Britain's consumer confidence indicator was stable month over month at -23 points in June, market research company Growth from Knowledge said Friday.Analysts expected -24 points for the month.

FTSE 100

International54d ago

Malaysia's Trade Surplus Widens in May as Exports Surge to Record High

Malaysia's trade surplus expanded to 40.4 billion ringgit in May, according to data from the Department of Statistics Malaysia released Friday.The surplus jumped from 28.8 billion ringgit in the previous month, beating the consensus estimate of 23.2 billion ringgit tracked by Investing.com.Total exports surged 45.3% year over year to a record 184 billion ringgit, compared with a 16.4% increase in April. On a monthly basis, exports edged up 0.4%.Imports rose 14.1% to 143.6 billion ringgit, following a 20% increase in April. Compared with the previous month, imports declined 6.8%.

FTSE Bursa Malaysia KLCI

International54d ago

Malaysia's Headline Inflation Rises Marginally to 2% in May

Malaysia's headline consumer price index (CPI) rose 2% year over year in May, according to data from the Department of Statistics Malaysia on Friday.The reading was below the consensus forecast of 2.1% growth tracked by Investing.com, and compared with a 1.9% expansion recorded in the previous month.The headline movement was driven by increases in information and communication, food and beverages, house and related utilities, as well as recreation and sports.Core inflation, which excludes volatile items, remained steady at 2% when compared with the previous month.On a month-over-month basis, Malaysia's headline CPI climbed 0.1%, compared with a 0.4% increase in the previous month.

FTSE Bursa Malaysia KLCI

International54d ago

New Zealand March Quarter GDP Data Shows Monetary Policy Easing was Working, Jarden Says

The March quarter New Zealand gross domestic product (GDP) data showed that monetary policy easing was working, but through business investment and trade rather than the consumer, Jarden said in a note late on Thursday.New Zealand's GDP rose 0.8% on a quarterly basis in the March quarter, but slightly below the 1% forecasted by the Reserve Bank of New Zealand (RBNZ). The December GDP was revised up to 0.5% from 0.2%, lifting annual growth to 1.5% through the year.GDP per capita rose just 0.5% in the March quarter after a flat December quarter. The resilience in the period came from the parts of the economy that cool slowly when rates rise. Consumer confidence has partly recovered but remains significantly below the long run average, Jarden noted.The upward revision to late-2025 activity leaves the level of output higher than the RBNZ assumed in May, the investment firm said. As a result, the negative output gap was smaller than it carried into the forecast. A narrower gap means a rate hike in July is "very likely." It also expects another rate hike in September to a terminal 3% by the end of 2027.

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International54d ago

Japan's Core Inflation Stalls in May; Headline Inflation Quickens

Japan's core consumer price index (CPI), which excludes volatile fresh food prices, rose 1.4% year over year in May, according to data from the Ministry of Internal Affairs and Communications released on Friday.The reading was in line with the consensus forecast tracked by Investing.com, and was unchanged from the 1.4% expansion recorded in the previous month.Meanwhile, headline inflation accelerated to 1.5% from 1.4% the previous month, but was lower than the Trading Economics forecast of 1.6%.On a month-over-month basis, Japan's core CPI climbed 0.4% following the zero change between March and April.The seasonally adjusted month-over-month headline inflation also quickened to 0.4% in May from 0.1% in April.

Nikkei 225

International54d ago

New Zealand Records NZ$800 Million Goods Trade Surplus in May

New Zealand recorded a goods trade surplus of NZ$800 million in May, compared with a surplus of NZ$1.6 billion in April, Stats NZ data showed on Friday.Goods exports rose 18% to NZ$8.88 billion, while imports rose 26% to NZ$8.08 billion.Exports were driven by a 43% increase in meat and edible offal, while mechanical machinery and equipment recorded the largest decline, falling 11%.Petroleum and petroleum products led the increase in imports, rising 104%, while ships, boats, and floating structures led the decline, falling 91%.In the year ended May, New Zealand recorded a trade deficit of NZ$3.37 billion, compared with a trade deficit of NZ$4.01 billion in the year ended May 2025.

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International54d ago

TSX Closer: Index Edges Lower as Energy, Metals Stocks, Decline; TD Sees BoC on Hold Through Year-End

The Toronto Stock Exchange edged lower on Thursday as weakness in commodity-linked sectors, including energy, battery metals and base metals, outweighed gains in financial and industrial stocks, while investors assessed fresh economic data and the outlook for Bank of Canada monetary policy.The S&P/TSX Composite Index closed down 155.85 points, or 0.44%, at 34,969.26 with sector finishing mixed.Health Care led gainers, up 2.27%, while Financial, Industrials, and Utilities, up 0.50%, 0.92%, and 0.40%, respectively. Battery Metals Index led decliners, down 2.90%, with Information and Technology, down 2.51%, Telecom, down 0.03%, Energy, down 1.87%, and Base Metals, down 1.31%.In commodities, gold traded lower Thursday as the dollar rose to its highest level in more than a year after the US Federal Reserve left interest rates unchanged at the conclusion of its two-day policy meeting on Wednesday. The precious metal, which has an inverse relationship with the greenback, was down US$135.90 to US$4,245.70 per ounce.Meanwhile, the West Texas Intermediate (WTI) crude closed lower Thursday after Iran and the US signed a preliminary ceasefire deal that promises to reopen the Strait of Hormuz, freeing supply from Iran and the Persian Gulf nations that has been blocked since the war started on Feb. 28. WTI crude oil for July delivery closed down less than 0.1% to settle at US$76.60 per barrel, rising off session lows of US$73.58, while August Brent oil was up by less than 0.1% to US$79.27.Beyond commodity markets, investors also weighed the domestic economic outlook, with TD Economics arguing that subdued inflation pressures gives the Bank of Canada (BoC) room to remain on the sidelines and keep interest rates unchanged.The BoC is expected to remain on hold through the rest of the year, supported by an economy that continues to operate below capacity and an inflation backdrop that remains relatively contained, TD said Thursday. Unlike the United States, underlying inflation trends in Canada remain "well behaved", according to the bank. The BoC's preferred core inflation measures have averaged around 1.5% annualized over the past six months, holding at below target and suggesting limited underlying inflation momentum.TD also predicted that Canada's economy may see growth momentum return in the second half of the year after posting two consecutive quarterly contractions that raised recession worries. A large part of the Q1 0.1% year-over-year contraction was the pullback in government spending, which the bank doesn't expect to continue, it said in a report on Thursday. Household spending is also projected to continue after rising 1.5% quarter-over-quarter in the first three months."Looking ahead, we expect the economy to continue to gradually regain some momentum ... international trade data also supports the case for a rebound in April," TD said. Job gains in May reversed a large part of the losses posted earlier in the year and reduced the unemployment rate to 6.6%, the lender added.On the economic front, data released Thursday showed Canadian producer prices continued to climb in May, reflecting higher energy-related costs and ongoing disruptions to global supply chains.Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), were up 1.2% month over month in May and increased 13.6% year over year, said the country's statistical agency on Thursday. The IPPI's May rise marked the fifth consecutive monthly increase. Disruptions to shipping through the Strait of Hormuz continued to affect global commodity markets in the month, reflecting impacts on crude oil costs and supply chains since March, noted Statistics Canada in a statement.However, prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index, increased 0.7% month over month and rose 33.4% year over year, said the Ottawa-based agency.Separate data released Thursday pointed to continued caution among Canadian businesses, with small-business confidence remaining in pessimistic territory for a second consecutive month.Small business confidence in Canada saw virtually no change in June, with the index remaining below the 50-point mark that for a second month in a row, said the Canadian Federation of Independent Business Barometer published on Thursday. A reading below 50 means business owners are expecting a weaker performance over the next three or 12 months.Fuel remains the top cost constraint for 66% of small businesses, while weak demand continues to weigh on more than half, or 53%, of the firms, CFIB said.Additionally, a new analysis from Scotiabank Economics suggested Canada's tighter immigration rules are having a pronounced impact on the international student population, with permit-holder numbers falling below government targets. The bank said the total stock of study permit and post-graduation work permit holders has dropped from a peak of more than 1 million in mid-2024 to just under 620,000 currently, reflecting stricter immigration measures."While the decline in the number of temporary work permit holders has been gradual since the introduction of annual temporary permit holder arrival caps, the pace at which the international student population has declined has been rapid, to say the least," senior economic analyst Anthony Bambokian said in the note.

S&P/TSX CompositeS&P/TSX Composite$CXY

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International54d ago

TSX Closer: Index Edges Lower as Energy, Metals Stocks, Decline; TD Sees BoC on Hold Through Year-End

S&P/TSX CompositeS&P/TSX Composite$CXY