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German IP posts a disappointingly subdued rise

Chris Scicluna
  • Economy watchers beat expectations, signalling Q2 GDP growth in Japan and firm job demand

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The week ahead: ECB to signal successive rate rises

Chris Scicluna
  • ECB on Thursday to signal successive rate rises from July, but likely to leave open size of first hike; net purchases should end this month, but new instrument to address fragmentation risks likely to be endorsed too

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Japanese survey points to only modest capex growth

Chris Scicluna
Emily Nicol
  • Japan vehicle sales and final manufacturing PMIs continue to flag ongoing challenges 
  • German retail sales plummet at start of Q2
  • UK shop price inflation at highest in more than a decade

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Japanese data very much a mixed bag

Chris Scicluna
Emily Nicol
  • Japanese retail sales maintain recovery, labour market tightens, but IP still soft amid supply difficulties
  • China’s PMIs consistent with much softer pace of contraction in May
  • French inflation up as expected to highest since mid-80s, while GDP contracted in Q1

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Risk-on start to the week aided by Chinese Covid news

Chris Scicluna
Emily Nicol
  • German states suggest that flash May inflation data will report another significant rise

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