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Daily Market MoversThe following news stories, economic reports, and statistical tables are selected and compiled by founder John F. Gallwas, who has been an active participant in the financial service industry since January of 1958.
FridayWS: 2nd Q GDP was much lower than forecast at +1.2% vs a revised down +0.8% in the 1srQ, even though there was more robust consumer spending.
WS: The Bank of Japan said it planned to buy more exchange-traded funds but left unchanged a key interest rate and its target for government-bond purchases.
ThursdayBB: Initial Claims for the week ended 7/23 were higher than expected. but the 4-weel moving average was down 1M to 256,500
BB: German unemployment extended its decline more than expected in July by -7M to 2,682M, in a sign that Europe’s largest economy is showing resilience to uncertainty unleashed by Britain’s vote to leave the European Union.
WednesdayWS: The Federal Reserve upgraded its assessment of the economy's recent performance and said near-term risks to the outlook have diminished, effectively leaving the door open to raise rates later this year, possibly as early as September.
BB: Contracts to purchase previously owned U.S. homes rose less than forecast in June by oly +0.2%, as a lack of supply and rising prices offset the benefits from historically low mortgage rates, according to figures released Wednesday from the National Association of Realtors.
BB: Demand for long-lasting factory goods fell sharply in June, a sign overseas turmoil is weighing on U.S. manufacturers.
BB:Japanese Prime Minister Shinzo Abe announced plans Wednesday for more than 28 trillion yen ($265 billion) in economic stimulus in an effort to prop up the nation’s economy.
TuesdayR: The U.S. Federal Reserve is expected to keep interest rates unchanged this week, deferring any possible increase until September or December, as policymakers hold out for more evidence of a pickup in inflation.
MondayR: World shares held near nine-month highs on Monday after G20 finance chiefs vowed over the weekend to use "all policy tools" to lift global growth.
Economic Reports for the Week ending Friday July 29, 2016
Last Week's Scorecard
* Local currencies
We do not guarantee accuracy of any of the data on this page. If you have any comments or suggestions, please contact William Gallwas or call 800-669-8838
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