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The key points from today’s economic news, brought to you by Guardian Stockbrokers.
UK unemployment rate remained steady in the March to May period
In the UK, the unemployment rate remained unchanged at 3.90% in the March to May period. Markets were expecting the unemployment rate to advance to 4.20%.
The ECB leaves rates and stimulus program unchanged
The European Central Bank (ECB), at its latest monetary policy meeting, kept its benchmark interest rate unchanged at 0%, as widely expected. The central bank indicated that it expects rates to remain at their “present or lower” levels until it has seen the inflation outlook “robustly converge to a level sufficiently close to, but below, 2% within its projection horizon”.
Euro-zone trade surplus widened in May
In the Euro-zone, seasonally adjusted trade surplus widened to €8.00 billion in May, compared to a revised trade surplus of €1.60 billion in the prior month.
US advance retail sales rose more than expected in June
In the US, advance retail sales climbed 7.50% on a MoM basis in June, compared to a revised advance of 18.20% in the prior month. Markets were expecting advance retail sales to advance 5.00%.
US initial claims fell less than expected in the week ended 10 July 2020
In the US, seasonally adjusted number of initial jobless claims fell to a level of 1300.0 K on a weekly basis in the week ended 10 July 2020, compared to a revised reading of 1310.00 K in the prior week. Markets were expecting initial claims to fall to a level of 1250.0 K.
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