The infoshot to help kick-start your week
Last Week
- It was announced that the US unemployment rate rose to 3.8 per cent in August as it reached the highest level in over a year. This comes as a sign that the US labour market is cooling which would limit the pressure on higher wages. This has led to increased speculation from investors that US interest rate rises may be limited over the coming months.
- Eurozone core inflation cooled slightly in the year to August while the overall inflation figure remained at 5.3 per cent. Core inflation, which excludes volatile food and energy prices, shifted down from 5.5 per cent in July to 5.3 per cent. This data comes ahead of the European Central Bank’s interest rate decision on September 14th where the central bank will decide to either continue increasing rates or not.
- In August, UK house prices fell at the fastest pace since 2009 as the effects of higher inflation and rising mortgage costs were reflected in the property market. According to data from Nationwide, the average UK house price fell 5.3 per cent in August compared to the same time last year. Alongside this, data from the Bank of England showed that mortgage approvals fell nearly 10 per cent between June and July.
Market Pulse
Coming Up
- UK Composite PMI data released, September 5th, 9:30am.
- US Initial Jobless Claims data released, September 7th, 1:30pm.
Notice:
The performance of each asset class is represented by certain Exchange Traded Funds available to UK investors and expressed in GBP terms selected by Copia Capital Management to represent that asset class, as reported at previous Thursday 4:30pm UK close. Reference to a particular asset class does not represent a recommendation to seek exposure to that asset class. This information is included for comparison purposes for the period stated, but is not an indicator of potential maximum loss for other periods or in the future.Open document settingsOpen publish panel
