BoE rate cut probability rises to 88 percent

Jul 22, 2016 12:04 pm UTC| Commentary Central Banks

The market is almost certain that a rate cut from the Bank of England (BoE) is coming in August, especially after the release of PMI reports today. In July, Flash manufacturing PMI dropped to 41-month low to 49.1. UK...

Euro area’s business activity growth drops in July

Jul 22, 2016 11:31 am UTC| Commentary Economy

Business activity growth in the euro area dropped in July. The Markit Eurozone Flash PMI fell to an 18.-month low of 52.9 in July. The pace of growth of output throughout services and manufacturing eased marginally. But...

FxWirePro: Eurostxx 50 bulls are likely to push for another 10 percent

Jul 22, 2016 11:31 am UTC| Commentary

The global financial markets handled the unexpected outcome of the UK referendum better than expected and the equities all around the globe have performed much better than expected. ThoughEuropean equities are lagging...

Germany’s private sector output growth accelerates in July

Jul 22, 2016 11:02 am UTC| Commentary Economy

German private sector output growth is likely to have accelerated at the beginning ofthird quarter, as emphasized by the Markit Flash Germany Composite Output Index that rose to 55.3 in July from 54.4 in June. This is the...

Italy’s retail trade index rises 0.3 pct m/m in May; industrial new orders index falls 2.8 pct

Jul 22, 2016 10:56 am UTC| Commentary Economy

Italys official statistics office, Istat, released the nations retail trade data for the month of May. The retail trade index rose 0.3 percent month-on-month on a seasonally adjusted basis in May. Food goods recorded a...

France’s private sector output likely to have stabilized in July

Jul 22, 2016 10:53 am UTC| Commentary Economy

The recent flash PMI data for France hinted that private sector output in France stabilized in July. The Markit Flash France Composite Output Index rose to 50 in July from 49.6 in June. Service providers hinted at a slight...

CBRT may further lower rates; USD/TRY likely to trade at 3.25 by 2016-end

Jul 22, 2016 10:51 am UTC| Commentary

The Turkish government has already exerted pressure on the central bank to lower interest rates. Since the start of 2016, the Turkish central bank has lowered the upper-end of its rate corridor by 200 basis points. Given...