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Weekly wrap: Inflation brings rate cuts back on the table

Equities
Soren Otto 400x400
Søren Otto Simonsen

Senior Investment Editor

Dear reader,

An exciting week in finance is drawing to a close, with important events from around the globe.

Last Friday, a hot nonfarm payroll report highlighted a robust US economy, initially quashing hopes for rate cuts. But come Wednesday, the CPI inflation figure went the other way, reigniting hopes of rate cuts. The FOMC meeting echoed this sentiment, even though the Fed kept rates steady. Rate cuts typically boost the business environment by making borrowing cheaper and encouraging spending, and as such the event propelled US equities to all-time highs. As such, the near-future will be interesting to watch. Whether it can compete with the European Championship in football remains to be seen, but the past week's data from the US sure has been dramatic.

In Europe, the parliament election shifted right but barely moved financial markets. Meanwhile, the Bank of Japan held rates steady at their meeting.

Strong earnings

Adobe led a week of strong earnings reports, with Broadcom and Oracle also surprising positively. Next week will be light on major earnings reports, with IT company Accenture being the most notable company to report on Thursday before the US market opens.

Looking ahead

While many Europeans will focus on the European championship in football, the markets will have plenty to watch. On Monday, the important German key figure ZEW will be out. Wednesday, the UK will release their CPI inflation figures, mirroring the US figures that caught the market’s attention last week. The Bank of England will also meet on Thursday.

PMI figures will be released Friday, offering insights from supply chain managers on market conditions. Here, the US number is expected to be of most interest. These numbers are always interesting from a market perspective. 

Stay ahead by visiting our inspiration pages for insights to guide your next investment or keep track of financial events in our calendar.

We wish you a successful week in the financial markets and beyond.

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