US Personal Consumption Expenditure inflation in May at 0.1%, month-on-month

US reports benign PCE inflation in May

The U.S. Commerce Department said on Friday its Personal Consumption Expenditures Price Index gained 0.1% in May, matching the rise in April. This is in line with the consensus estimate in a Reuters poll of economists. On a year-on-year basis it stood at 2.3%. This was a marginal increase from the 2.2% figure reported in April.

French minister calls for extension of EU-US trade talks

France’s finance minister has called for extending EU-U.S. trade talks beyond the July 9 deadline in order to secure a better agreement.

Michigan Consumer Sentiment Index Surpasses Forecast

Indicating Positive Outlook for USD, The University of Michigan has released its Consumer Sentiment Index, a key measure of the nation’s economic outlook. The actual number reported was 60.7, surpassing both the forecasted number and the previous reading.

 India posts first current account surplus in fourth quarters

Indian central bank said that  India’s current account posted a surplus for the first time in four quarters in the January-March period, helped by higher services exports.

China’s factory activity expected to shrink for third month amid trade tensions

China’s factory activity likely shrank for a third straight month in June, a Reuters poll showed on Friday, as manufacturers await a more durable deal in a fragile trade truce with the U.S. to revive shipments to the world’s top consumer market.

 Disclaimer : This content is only for informational purpose. It does not make any recommendation to act or invest. To get any errors corrected, write to content@hdfcsec.com.

Source: HDFC Securities Prime Research