Economy update
Eurostat saw economic activity expand in the common currency area by 0.1% in 2Q on the previous quarter and 1.4% on the year. Both are below the 1Q readings. Germany’s economy contracted 0.1% quarter-on-quarter. Economic and consumer sentiments both improved in the Euro zone in July. Although the US central bank is widely expected to stay put on interest rates, its press conference will be keenly watched this evening. UBS’s quarterly result beat expectations, but HSBC’s profit estimate missed the forecast. Equities are broadly unchanged ahead of the Fed decision.
Leave a Reply