Market Overview

Euro Area PMI

Concerns about inflation and growth continue to be the major concern of investors. Important data to keep an eye on, therefore, is the Purchasing Managers’ Index (PMI), published today by IHS Markit (S&P Global). The extent to which the war in Ukraine and lockdowns in China are causing supply chain disruptions and increasing inflationary pressures are reflected in the index.

US Retail

The period of high volatility in the markets continues, with traders increasingly concerned about the economic slowdown. The data on US consumer sentiment released on Friday only fueled this concern.

US CPI

Today’s focus is on US inflation data, which are highly anticipated by market operators. The April CPI was expected to slow down, which may suggest that the peak has been reached. The inflation index was reported a week after the Federal Reserve announced a 50 basis point rate hike and a similarly sized hike at the next two policy meetings.

Nonfarm Payroll

Markets were dominated by inflation and growth concerns, feeding fears over the possibility of stagflation. The trigger could have been data from the US on rising labor costs combined with a sharp decline in productivity.

Fed

The markets focus this week was on the Fed’s latest monetary policy decision. Yesterday the FOMC announced a 50 basis point rate hike, the largest since 2000.

Euro Area CPI

Global markets are keeping a close eye on the war, after Russia cut off gas supplies to Poland and Bulgaria. Putin threatened “lightning-fast” retaliation against “hostile” countries that intervene in the conflict.

US GDP

Market uncertainty and the economic slowdown continue to loom as the Russia-Ukraine war raises setbacks. The International Monetary Fund (IMF) forecasts a global GDP growth of 3.6% this year and in 2023.

Euro Area PMI

The conflict in Ukraine is heavily weighing on the global economy. Such event is reflected in macroeconomic indicators, skyrocketing inflation and downward pressure on GDP estimates. The International Monetary Fund (IMF) has revised down its global growth estimate for 2022 to 3.6%.

ECB

Today, the focus is on the ECB’s monetary policy decisions. The war in Ukraine, sanctions against Russia, supply bottlenecks and soaring inflation are weighing heavily on the euro area economy. The Governing Councilmust therefore strike a balance between economic slowdown and high inflation.

UK Economy

Inflation, supply chain disruptions and the Russia-Ukraine war continue to put pressure on the global economy and central bank monetary policy decisions.

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Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is a London-based Asset Management firm founded in 2007. The company is authorised and regulated by the Financial Conduct Authority (“FCA”), registered nr. 477155.
Link to FCA firm register: https://register.fca.org.uk/
Pairstech permissions are authorised through the “Passport Mechanism” across many European Countries.

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Past performance is not a guide to future returns. The value of investments and any income from them is not guaranteed and may fall as well as rise and the investor may not get back the original amount invested.

Aleph Finance is a trading name of Pairstech Capital Management LLP.
Pairstech Capital Management LLP is a London-based Asset Management firm founded in 2007. The company is authorised and regulated by the Financial Conduct Authority (“FCA”), registered nr. 477155.
Link to FCA firm register: https://register.fca.org.uk/
Pairstech permissions are authorised through the “Passport Mechanism” across many European Countries.

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