Post by account_disabled on Mar 6, 2024 9:14:54 GMT
The struggling real estate market to lackluster business and industrial profits, several economic indicators of the Chinese economy are flashing red. But that won't be immediately obvious when the world's second-largest economy releases its second-quarter gross domestic product growth data on Monday. The headline figure should still look deceptively strong due to a low base effect, with some banks forecasting 7 percent growth. But underlying momentum is slowing, economists warn, raising concerns about the health of the country's post-Covid recovery. In Europe, polls suggest Spaniards are about to change the country's political course when they vote next Sunday, ousting socialist Prime Minister Pedro Sánchez and installing a conservative government willing to review a $3 billion windfall tax.
Euros vilified by banks and energy companies. The big question is whether the opposition Popular Party, led by Alberto Núñez Feijóo, will be able to achieve an absolute majority or will need the votes of the far-right party Job Function Email Database Vox to take office. If so, Feijóo will be under pressure to take more radical positions on areas ranging from climate change and immigration to gender rights. The focus of UK politics will be three by-elections in previously safe Conservative seats on Thursday, including Boris Johnson's former London constituency of Uxbridge and South Ruislip. The Conservatives risk losing their luck, fueling fears that Rishi Sunak's party will lose in a landslide in the general election, due in the next 18 months.
Eyes will be on UK inflation, which is expected to have slowed to 8.2% in June, down from 8.7% in May, according to economists polled by Reuters. More optimistically, the Bank of England forecasts a fall to 7.9 percent. Thursday will be an important moment for Hafize Gaye Erkan, Turkey's new central bank chief, when she announces the country's next interest rate move. She could be one of the biggest pivots in the bank's history. Erkan's predecessor cut rates from 19% to 8.5% in two years, sparking an acute inflation crisis and putting Turkey's currency under intense pressure. A big rise in rates will be required to restore economic order, according to economists and investors. Tesla is the earnings call to watch because it is one of the few US tech companies, along with Amazon, Alphabet, Apple, Meta, Microsoft and Nvidia, that have kept US stock markets higher in recent years.
Euros vilified by banks and energy companies. The big question is whether the opposition Popular Party, led by Alberto Núñez Feijóo, will be able to achieve an absolute majority or will need the votes of the far-right party Job Function Email Database Vox to take office. If so, Feijóo will be under pressure to take more radical positions on areas ranging from climate change and immigration to gender rights. The focus of UK politics will be three by-elections in previously safe Conservative seats on Thursday, including Boris Johnson's former London constituency of Uxbridge and South Ruislip. The Conservatives risk losing their luck, fueling fears that Rishi Sunak's party will lose in a landslide in the general election, due in the next 18 months.
Eyes will be on UK inflation, which is expected to have slowed to 8.2% in June, down from 8.7% in May, according to economists polled by Reuters. More optimistically, the Bank of England forecasts a fall to 7.9 percent. Thursday will be an important moment for Hafize Gaye Erkan, Turkey's new central bank chief, when she announces the country's next interest rate move. She could be one of the biggest pivots in the bank's history. Erkan's predecessor cut rates from 19% to 8.5% in two years, sparking an acute inflation crisis and putting Turkey's currency under intense pressure. A big rise in rates will be required to restore economic order, according to economists and investors. Tesla is the earnings call to watch because it is one of the few US tech companies, along with Amazon, Alphabet, Apple, Meta, Microsoft and Nvidia, that have kept US stock markets higher in recent years.