Discover the most significant data and events that impacted the markets this week.
Highlights of the Week:
- U.S.: Service sector activity rebounded in July, driven by an increase in new orders and improved labor conditions. 78% of S&P 500 companies exceeded estimates, with a anual profit growth of 9% and revenue growth of 5%.
- Europe: Retail sales in the Eurozone fell by 0.3% annually in June, while industrial production in Germany grew by 1.4%. The ECB is expected to reduce its benchmark interest rate by 50 base points en their next meeting in September.
- Japan: The Nikkei index increased by 10.2% following the Bank of Japan’s rate growth, marking its best day since 2008. Service sector activity also rebounded in July, driven by strong domestic demand.
- China: Exports grew by 7% annually in July, below the expected 9.7% and less than the 8.6% growth in June.
- Mexico: Bank of Mexico raised the reference rate by 25 base points to 10.75%. Inflation in July accelerated to 5.57% annually, its highest level in 14 months. Exports to the U.S. reached US$249 billion in the first half of the year, a 5.6% increase compared to the same period in 2023.
Important events for the netx week
- In the U.S.: July inflation data will be released on 08/14.
- In China: Various economic figures for July will be released on 08/15.
