Weekly Markets Monitor

Last week saw a mix of central bank actions. The US Fed cut 25bps as expected yet with a less dovish tone while the BOE held rates unchanged and slowed its QT.

Last week saw a blend of inflation trends and political challenges. In the US, mixed inflation data, cooling labor markets, and weakening consumer sentiment kept expectations of a Fed rate cut in place. 

Last week's releases highlighted a softening U.S. labor market, reinforcing expectations for rate cuts.

Last week was dominated by concerns over Fed independence and uneven global economic momentum.

Last week, the US Fed signaled potential rate cuts amid mixed economic signals. The US labor market softened while business activity and housing data surprised on the upside.

Last week was data-heavy: while the US showed mixed economic signals, there were signs of slowing activity in China.

Last week saw new tariffs announced and higher tariffs take effect. Central banks in the UK and India made cautious, diverging policy moves. 

Trade deals and tariffs, coupled with weak US labour market data, dominated sentiment last week, while both the Fed and Bank of Japan held rates steady as they monitor the impact of tariffs on prices. 

Last week, trade deals between the US and several countries dominated headlines, boosting optimism. 

Last week, economic reports were mixed. In the U.S., stronger retail sales and robust corporate earnings met higher CPI inflation.

With a light week for economic data, tariff developments returned to the forefront last week. Although the tariff pause was extended, new levies, some higher than initial rates, have raised concerns.

Last week, attention was centered on unexpected headline U.S. job gains and the narrowly passed budget bill, while PMI readings improved across major economies and trade policy developments continue to draw focus.

Last week saw easing geopolitical tensions and some trade policy progress. Economic data showed mixed trends: U.S. indicators soft, euro area sluggish, and the UK, Japan and India improved.

Last week global central banks showed caution with mixed policy moves: the Fed paused, signaling slower cuts on stagflation concerns, Swiss and Norwegian banks cut, while BoE and the BoJ held steady.

The Israel-Iran attacks last week overshadowed progress in US-China trade talks and positive economic data. Adding to concerns, the World Bank has lowered global growth outlook for 2025.