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Switzerland’s trade surplus largest since September 2023

July 18, 2024 8:08 am
Switzerland reported a trade surplus in the amount of CHF 4.9 billion in June, compared to a revised up CHF 4.2 billion surplus in May. It has been the biggest trade surplus since September 2023. The nation’s total exports went up 1.2% month-over-month to CHF 23.3 billion, mostly because of higher shipments of vehicles (up […] Read more

South Africa’s retail sales growth picks up in May

July 17, 2024 11:43 am
South Africa’s retail sales were reported to have risen at an annualized rate of 0.8% in May, following a revised up 0.7% growth in April. In May, sales rose at a faster rate at general dealers (1.7% YoY compared to 0.4% YoY in April). Meanwhile, sales rebounded for food, beverages & tobacco (4.4% YoY after […] Read more

Euro Area CPI inflation confirmed at 2.5% in June

July 17, 2024 9:14 am
The annual CPI inflation rate in the Euro Area was confirmed at 2.5% in June, while easing from 2.6% in May. A year earlier, CPI inflation stood at 5.5%. In June, inflation eased for energy (0.2% YoY versus 0.3% YoY in May) and for food, alcohol and tobacco (2.4% YoY versus 2.6% YoY in May). […] Read more

Singapore’s June non-oil exports plunge 8.7%

July 17, 2024 6:54 am
Singapore’s non-oil domestic exports were reported to have dropped 8.7% year-on-year in June, while marking the fifth straight month of decline. The data followed a revised 0.7% contraction in May. A consensus of analyst estimates had pointed to a much slower drop, by 1.2% YoY. In June, shipments of electronic products shrank 9.5% YoY, following […] Read more

Euro Area’s May industrial output shrinks less than expected

July 15, 2024 10:41 am
Industrial production in the Euro Area was reported to have shrunk 0.6% month-over-month in May, following a flat reading in April. In comparison, market consensus had pointed to a 1% contraction. In May, output dropped for intermediate goods (-1% versus -0.3% in April), capital goods (-1.2% versus a 0.7% rise in April) and durable consumer […] Read more

USD/CHF edges higher in favor of Trump election victory

July 15, 2024 7:53 am
The US Dollar was broadly stronger against major peers on Monday, as bets on a victory by Donald Trump in the coming US elections increased following an assassination attempt against the former US President. The USD/CHF currency pair was last up 0.10% on the day to trade at 0.8954. The major Forex pair had earlier […] Read more

Germany’s wholesale prices fall for 14th month in June

July 12, 2024 1:27 pm
Wholesale prices in Germany have decreased at an annualized rate of 0.6% in June, data by the Federal Statistical Office showed. The latter has been a slowdown from a 0.7% drop in May. June marked the 14th consecutive month of decreasing producer prices, but the pace has been the softest in the sequence. Last month, […] Read more

South Africa gold output shrinks for 7th month in May

July 11, 2024 10:47 am
Gold production in South Africa was reported to have contracted 9% year-on-year in May, or at a much faster rate compared to the prior month (-1.7% YoY). May has been the seventh straight month of output decline, while the pace has been the sharpest since January. That performance contributed negatively to the volume of mining […] Read more

USD/KRW: Won edges higher as BoK holds base rate at 3.5%

July 11, 2024 8:04 am
The South Korean Won was a notch firmer against the US Dollar on Thursday, after the Bank of Korea left its base rate without change at a 15-year high of 3.5% at its July policy meeting. This way, borrowing costs were kept on hold for the twelfth consecutive meeting, as policy makers required more time […] Read more

Norway inflation eases to lowest level since December 2020

July 10, 2024 10:36 am
The Norwegian Krone weakened more than 1% against the Euro on Wednesday, after data showed Norway’s CPI inflation rate had eased to its lowest since December 2020 in June. Norway’s annual consumer price inflation has decelerated to 2.6% in June from 3% in May, the latest data by Statistics Norway showed. In June, inflation slowed […] Read more