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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB kept its key interest rate unchanged
The European Central Bank (ECB) kept its key interest rate unchanged at 0.00%, at par with market expectations 0.00%, and reiterated its plan to end its massive bond-buying programme in December 2018. The ECB Chief, Mario Draghi, struck a relatively upbeat tone on the economic outlook and stated that interest rates would remain at their record low level through the summer of 2019.
US Kansas City Fed manufacturing activity index fell in July
In the US, the Kansas City Fed manufacturing activity index dropped to a level of 23.00 in July, compared to a level of 28.00 in the prior month. Market anticipation was for the index to fall to 25.00.
US durable goods orders rose less than expected in June
In the US, the preliminary durable goods orders recorded a rise of 1.00% in June, on a monthly basis, lower than market expectations for a rise of 3.00%. Durable goods orders had fallen 0.40% in the prior month.
US initial jobless claims advanced in the last week
The seasonally adjusted initial jobless claims in the US recorded a rise to a level of 217.00 K in the week ended 21 July 2018, higher than market expectations of a rise to a reading of 215.00 K. Initial jobless claims had recorded a revised reading of 208.00 K in the prior week.
US advance goods trade deficit widened in June
The US has registered advance goods trade deficit of $68.30 billion in June, compared to a deficit of $64.80 billion in the previous month. Market expectation was for the nation to post a deficit of $67.00 billion.
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