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Prelim was 6.3%Prior was +3.2%Productivity -2.1% vs -2.5% expectedPrior productivity -2.7%These numbers are notoriously tough to calculate but, if anything, they're less inflationary than they initially looked. There's a bid in bonds and the dollar is selling off on...

Prior was +296K (revised to +291K)Details:small (less than 50 employees) +116K vs +121K priormedium firms (500 – 499) +112K vs +122K priorlarge (greater than 499 employees) +106K vs +47K priorJob stayers 6.5% vs 6.7%Job changers 12.1% vs 13.2%The previous number was...

Headlines:Markets:AUD leads, JPY lags on the dayEuropean equities higher; S&P 500 futures up 0.2%US 10-year yields up 1.9 bps to 3.656%Gold up 0.3% to $1,967.55WTI crude down 0.5% to $67.74Bitcoin down 0.8% to $26,894There was plenty of data to scour through...

Prior 66.99kThat's now eleven months running that job cuts have exceeded the same month from a year ago and the increase in layoffs that we are seeing so far this year have been particularly notable. For some context, Q1 layoffs were already the highest since 2020 and...

It's a tough one to read, especially just a day after month-end trading. And when you throw in the sort of Fed comments that we got yesterday, it makes things even trickier at the moment.The dollar is now sitting lower against the likes of the euro, pound, franc and...

This was very much expected already and is one reason why oil prices failed to gather much support in trading yesterday. According to one source:"At this precise time, no change for the meeting but as usual, depending on the mood of some, everything can...

As things stand, the rates market is still seeing roughly 86% odds of the ECB raising rates by 25 bps in June. The remaining 14% odds are tied to a 50 bps move instead. This shows the market bias is more or less still seeing two more rate hikes by the ECB i.e. one in...

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

Prior +7.0%Core CPI +5.3% vs +5.5% y/y expectedPrior +5.6%Euro area inflation drops by more than estimated (for both the headline and core readings) and that is a welcome relief for the ECB at least. Keep in mind though, that this is just one reading and it will take...

Prior 52.01k; revised to 51.49kNet consumer credit £1.6 billion vs £1.5 billion expectedPrior £1.6 billionBorrowing of mortgage debt by UK individuals declined further to a record low, that is if you strip out the pandemic period, falling from net zero to £1.4 billion...

Prior 47.8A mild revision higher to the initial estimate but the headline reading is still a 4-month low. Output contracts once again with the fall in new orders and employment both accelerating. S&P Global notes that:“The UK manufacturing downturn deepened in...

Prior 45.8Weak demand conditions are proving to be a real pain for euro area manufacturing as production and new orders both fall at their strongest rates in six months. The headline reading, although revised higher, is still a 36-month low. Ouch. HCOB notes...

The dollar saw a bit of a setback yesterday from this but is now regaining its momentum once again on the week. If there is takeaway from all this, it is that dollar bulls are certainly looking poised to keep pushing their agenda for now.EUR/USD is down 0.2% to 1.0663...