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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
Mark Carney: Interest rate cut possible in event of a no-deal Brexit
The Bank of England (BoE) Governor, Mark carney, indicated that the central bank would support stimulus package to recover economy in situation of a no-deal Brexit in October. Moreover, he stated that the response from the bank’s rate-setting panel over a ‘no-deal’ Brexit would depend upon its impact on demand, supply and on the exchange rate.
German consumer confidence index declined in July
In Germany, the consumer confidence index eased to a level of 9.80 in July, compared to market expectations of a fall to a reading of 10.00. The index had registered a level of 10.10 in the prior month.
US durable goods orders declined more than expected in May
In the US, the preliminary durable goods orders recorded a drop of 1.30% on a MoM basis in May, higher than market expectations for a fall of 0.30%. Durable goods orders had dropped 2.10% in the previous month.
US advance goods trade deficit expanded in May
In the US, advance goods trade deficit rose to $74.50 billion in May, more than market expectations of an advance goods trade deficit of $71.80 billion. The US had reported an advance goods trade deficit of $72.10 billion in the prior month.
Japanese retail trade advanced as expected in May
In Japan, retail trade advanced 1.20% on a YoY basis in May, compared to an advance of 0.50% in the previous month. Markets were expecting retail trade to climb 1.20%.
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