Roundup


Roundup of the economic data released on June 15, 2024,

Australia:

  • Employment Change: Came in at 75.9K, above the forecast of 18.6K and previous reading of -4.0K. Unemployment Rate remained unchanged at 3.6%.
  • Market Impact: This is a positive sign for the Australian economy, as it suggests that the labor market is still strong. This could lead to higher stock prices and a stronger Australian dollar.

China:

  • Industrial Production y/y: Came in at 3.5%, in line with the forecast and previous reading of 5.6%.
  • Market Impact: This is a neutral result for the Chinese economy. It suggests that the economy is still growing, but at a slower pace than in previous months. This could lead to a slight decline in stock prices and a weaker Chinese yuan.

Eurozone:

  • Main Refinancing Rate: Was kept unchanged at 4.00%, as expected. Monetary Policy Statement was also unchanged.
  • Market Impact: This is a neutral result for the Eurozone economy. It suggests that the European Central Bank is not yet ready to raise interest rates, despite rising inflation. This could lead to a slight decline in stock prices and a weaker euro.

United States:

  • Core Retail Sales m/m: Came in at 0.1%, the same as the forecast of 0.1% and previous reading of 0.4%.
  • Empire State Manufacturing Index: Came in at 6.6, sharply higher than the forecast of -15.0 and previous reading of -31.8.
  • Retail Sales m/m: Came in at 0.3%, above the forecast of -0.2% and previous reading of 0.4%.
  • Unemployment Claims: Came in at 262K, higher than the forecast of 246K and previous reading of 262K.
  • Market Impact: The mixed economic data released in the United States on June 15, 2024 is likely to have a neutral impact on the markets. The strong Empire State Manufacturing Index and Retail Sales m/m data are positive signs for the economy, but the higher than expected Unemployment Claims data is a negative sign. Overall, the data suggests that the US economy is growing at a moderate pace. This could lead to a slight decline in stock prices and a weaker US dollar.
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