German investor sentiment fell slightly in August on concerns that the rising cost of living will hit private consumption in Europe's largest economy, which is on the brink of recession. The ZEW economic research institute said on Tuesday its economic sentiment index fell to -55.3 points from -53.8 in July.
Euro zone countries swung into a trade deficit in June from a surplus 12 months earlier because of soaring prices of imported gas and oil, Eurostat data showed on Tuesday. Eurostat said the trade gap of the 19 countries sharing the euro with the rest of the world, unadjusted for seasonal swings, was 24.6 billion euros in June, compared to a 17.2 billion surplus in June 2021.
Euro zone countries swung into a trade deficit in June from a surplus 12 months earlier because of soaring prices of imported gas and oil, Eurostat data showed on Tuesday. Eurostat said the trade gap of the 19 countries sharing the euro with the rest of the world, unadjusted for seasonal swings, was 24.6 billion euros in June, compared to a 17.2 billion surplus in June 2021.
The British pound was little changed on Tuesday, having briefly fallen to its lowest level in over a week, after mixed data showed a jobs market that is still hot, although some early signs it may be starting to cool.
The safe-haven U.S. dollar hit a one-week high on Tuesday after weak global economic data, particularly in China, reignited global recession fears and weighed on risk-friendly currencies like the Australian dollar.
UK grocery inflation hit 11.6% in August, the highest level since at least 2008, adding 533 pounds to annual bills during the worst cost of living crisis in decades, industry data showed on Tuesday. Market researcher Kantar said the inflation rate was the highest it has seen since it started tracking supermarket prices in this way 14 years ago.
Nallathambi Mahendran walked through his four acres of emerald green paddy fields in northern Sri Lanka's Kilinochchi district, indicating the height the plants should have reached by now.
India's headline retail inflation that eased for the third straight month in July is expected to remain above the central bank's upper tolerance range in the near term, necessitating more rate hikes in coming months, analysts said.
- The Philippine central bank will follow its surprise July rate hike with a half-point point rise on Thursday and another quarter-point increase in September to catch up with its peers in containing soaring inflation, a Reuters poll forecast.
The safe-haven U.S. dollar hovered near a one-week high on Tuesday while the Aussie, euro and Chinese yuan remained under pressure as weak global economic data regnited recession fears. The dollar index, which measures the greenback against six major peers, held steady at 106.51, just below the previous session's peak of 106.55, the strongest since Monday of last week.
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