Forex and Currency News

Spain’s trade deficit smallest since March 2023

Spain’s trade balance deficit has narrowed to EUR 0.7 billion in June, data showed, from EUR 2.4 billion in June 2023. The latest figure pointed to the smallest deficit since March 2023. Total imports went down 7.3% year-on-year to EUR 33.7 billion in June. That reflected lower purchases of: – chemical products (-12% YoY); – […] Read more

Switzerland industrial production rises the most in 2 years

Industrial production in Switzerland has expanded at an annualized rate of 7.3% in the second quarter of this year, while recovering from a revised down 2% drop in the prior quarter, data by the Swiss Federal Statistical Office showed. It has been the fastest growth rate in industrial output since the first quarter of 2022. […] Read more

UK retail sales recover in line with forecasts in July

Retail sales in the United Kingdom have risen at a monthly rate of 0.5% in July, after a revised down 0.9% drop in June, data by the Office for National Statistics showed. The latest figure came in line with market consensus. Sales at non-food stores rose 1.4% in July, mostly in department stores and sports […] Read more

US retail sales surge the most since January 2023

Retail sales in the United States have risen at a monthly rate of 1% in July, after a revised down 0.2% decrease in June, data by the US Census Bureau showed. It has been the fastest monthly growth rate since January 2023. The latest figure also well exceeded market consensus of a 0.3% growth, while […] Read more

Switzerland producer prices fall the least since December

Producer and import prices in Switzerland decreased at an annual rate of 1.7% in July, the latest data by the Swiss Federal Statistical Office showed. It has been the 15th consecutive month of year-on-year decline, but yet, the slowest since December 2023. Switzerland’s import prices decreased at a slower pace in July, by 2.7% YoY […] Read more

Japan’s GDP grows at faster-than-expected 3.1% in Q2

Japan’s GDP has expanded at an annualized rate of 3.1% in the second quarter of 2024, a preliminary estimate showed. That followed a 2.3% contraction in the prior quarter. In comparison, market consensus had pointed to a 2.1% GDP growth. The latest figure marked the fastest annual growth rate since Q2 of 2023, as it […] Read more

Sweden’s CPI inflation stable at near 3-year low

Sweden’s annual consumer inflation has remained steady at 2.6% in July, the latest data by Statistics Sweden showed. It has been the lowest inflation rate since September 2021. In comparison, market consensus had pointed to acceleration to 2.7%. In July, inflation for food & non-alcoholic beverages remained stable, at 1.1%. Conversely, inflation accelerated for: – […] Read more

NZD/USD plummets as RBNZ delivers 25 bps rate cut

The New Zealand Dollar retreated more than 1% against its US counterpart on Wednesday, after the Reserve Bank of New Zealand surprisingly slashed its official cash rate by 25 basis points to 5.25% at its August policy meeting. It has been the first rate cut since March 2020, while it confounded market consensus of a […] Read more

South Africa’s unemployment rate highest since Q2 2022

The unemployment rate in South Africa has risen to 33.5% in the second quarter of 2024 from 32.9% in Q1, data by Statistics South Africa showed. It has been the highest jobless rate since the second quarter of 2022. In comparison, market consensus had pointed to a decrease to 32.3%. The number of unemployed persons […] Read more

Singapore’s GDP grows 2.9% YoY in Q2, 2024 forecast raised

Singapore’s economy has grown at an annualized rate of 2.9% in the second quarter of 2024, final data by Statistics Singapore showed. The final estimate matched the preliminary data. First-quarter GDP growth has been revised up to 3%. In Q2, economic growth was mostly underpinned by segments such as wholesale trade, finance & insurance, and […] Read more