Eurozone inflation rose to 2.6% in July, a modest increase from 2.5% in June. Core inflation, which strips out volatile food and energy prices, remained steady at 2.9%.

This morning, UK inflation came in for July at 2.2%, just above the Bank of England’s 2% target.

China’s services sector saw a rebound in July, with employment growing at its fastest rate in nearly a year, according to a survey released Monday by Caixin.

Eurozone GDP for the second quarter of 2024 has increased by 0.3% in comparison to the previous quarter and surpassed economists’ expectations of a 0.2% rise.

On Monday, US markets opened on a high note, following President Joe Biden’s announcement on Sunday that he would be withdrawing from the US presidential race.

This morning, UK inflation came in for the month of June unchanged.

Despite the UK hitting the Bank of England’s 2% inflation target in May, retail sales data indicated a drop in purchases last month of 0.2% year-on-year in comparison to the 4.9% growth in June 2023.

Yesterday morning, Eurozone inflation came in showing a slower growth of 2.5% in June, in contrast to 2.6% in May.

This week, hawkish comments from the Bank of Japan’s (BoJ) policymakers have markets wondering whether their quantitative tightening plan being unveiled in July will be bigger than originally thought.

Earlier this morning, the latest UK CPI report revealed inflation has eased to the Bank of England’s 2% target on year in May, down from 2.3% in April – something only last seen back in July 2021.