Latest news with #MorningBidEurope
Mint
30-04-2025
- Business
- Mint
MORNING BID EUROPE-Data deluge rounds up turbulent April
(Corrects day in paragraph 8 to Wednesday from Thursday) A look at the day ahead in European and global markets from Rae Wee Note: There will be no Morning Bid Europe on Thursday, May 1, due to holidays in various markets. The newsletter will resume on Friday, May 2. There will be a raft of data for investors to pore over on Wednesday as they wind down a rollercoaster month headlined by a tumultuous trade policy in the United States that bruised markets and dealt a blow on businesses and consumers globally. First up in Europe, preliminary readings on French and German inflation are due, alongside growth data for the two economies and the wider euro zone bloc. The UK also releases figures for home prices. It remains to be seen if the releases will support the case for further rate cuts by the European Central Bank (ECB), but for now markets are leaning toward another round of easing in June. Two ECB policymakers warned earlier this week that a trade war with the United States could extinguish the euro zone's fledgling recovery and the bloc could struggle under tariffs. U.S. GDP data and the core PCE price index then take the stage, where expectations are for the world's largest economy to have grown a meagre 0.3% in the first quarter. As it is, data on Tuesday showed the U.S. trade deficit in goods widened to a record high in March as businesses ramped up efforts to bring in merchandise ahead of the sweeping tariffs, suggesting trade was a large drag on growth. It's a lot for investors to digest at the end of the month, having already been taken on a wild ride following U.S. President Donald Trump's first 100 days in office. But chaos seems to be the new normal these days. There was little to cheer about in markets on Wednesday, as relief over a potential easing of global trade tensions was offset by a worsening economic outlook and dour signals from corporates swept up by Trump's tariffs. Despite Trump's move to soften the blow of his auto tariffs and signs of progress in broader trade negotiations, details remain scant, with Commerce Secretary Howard Lutnick saying he had reached one deal with a foreign power. Delivery giant UPS said on Tuesday it would cut 20,000 jobs to lower costs, while General Motors pulled its outlook and delayed its investor call, joining a list of companies that have ditched forecasts for 2025 or slashed outlooks. Shares struggled for direction and U.S. futures slid, while the dollar was on track for its worst monthly performance in more than two years. While a fire sale of U.S. assets that gathered steam earlier this month seems to have abated for now, confidence remains fragile and the recent slew of economic data has given investors little reason for them to return. U.S. consumer confidence slumped to a nearly five-year low in April and job openings dropped sharply in March, in signs that cracks in the economy are starting to show. Amid persistent Sino-U.S. trade tensions, the world's second-largest economy is starting to feel the heat too. China's factory activity contracted at the fastest pace in 16 months in April, a survey showed on Wednesday, as Trump's hefty tariffs snapped two months of recovery. Still, Beijing is betting on Washington blinking first in a protracted trade war, as officials advance this year's stimulus plans but hold off on fresh measures. Key developments that could influence markets on Wednesday: - French, German preliminary inflation (April) - Euro zone, France, Germany preliminary GDP (Q1) - UK nationwide house prices (April) - U.S. core PCE price index (March) Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here. First Published: 30 Apr 2025, 10:20 AM IST
Yahoo
30-04-2025
- Business
- Yahoo
Morning Bid: Data deluge rounds up turbulent April
A look at the day ahead in European and global markets from Rae Wee Note: There will be no Morning Bid Europe on Thursday, May 1, due to holidays in various markets. The newsletter will resume on Friday, May 2. There will be a raft of data for investors to pore over on Wednesday as they wind down a rollercoaster month headlined by a tumultuous trade policy in the United States that bruised markets and dealt a blow on businesses and consumers globally. First up in Europe, preliminary readings on French and German inflation are due, alongside growth data for the two economies and the wider euro zone bloc. The UK also releases figures for home prices. It remains to be seen if the releases will support the case for further rate cuts by the European Central Bank (ECB), but for now markets are leaning toward another round of easing in June. Two ECB policymakers warned earlier this week that a trade war with the United States could extinguish the euro zone's fledgling recovery and the bloc could struggle under tariffs. U.S. GDP data and the core PCE price index then take the stage, where expectations are for the world's largest economy to have grown a meagre 0.3% in the first quarter. As it is, data on Tuesday showed the U.S. trade deficit in goods widened to a record high in March as businesses ramped up efforts to bring in merchandise ahead of the sweeping tariffs, suggesting trade was a large drag on growth. It's a lot for investors to digest at the end of the month, having already been taken on a wild ride following U.S. President Donald Trump's first 100 days in office. But chaos seems to be the new normal these days. There was little to cheer about in markets on Wednesday, as relief over a potential easing of global trade tensions was offset by a worsening economic outlook and dour signals from corporates swept up by Trump's tariffs. Despite Trump's move to soften the blow of his auto tariffs and signs of progress in broader trade negotiations, details remain scant, with Commerce Secretary Howard Lutnick saying he had reached one deal with a foreign power. Delivery giant UPS said on Tuesday it would cut 20,000 jobs to lower costs, while General Motors pulled its outlook and delayed its investor call, joining a list of companies that have ditched forecasts for 2025 or slashed outlooks. Shares struggled for direction and U.S. futures slid, while the dollar was on track for its worst monthly performance in more than two years. While a fire sale of U.S. assets that gathered steam earlier this month seems to have abated for now, confidence remains fragile and the recent slew of economic data has given investors little reason for them to return. U.S. consumer confidence slumped to a nearly five-year low in April and job openings dropped sharply in March, in signs that cracks in the economy are starting to show. Amid persistent Sino-U.S. trade tensions, the world's second-largest economy is starting to feel the heat too. China's factory activity contracted at the fastest pace in 16 months in April, a survey showed on Wednesday, as Trump's hefty tariffs snapped two months of recovery. Still, Beijing is betting on Washington blinking first in a protracted trade war, as officials advance this year's stimulus plans but hold off on fresh measures. Key developments that could influence markets on Wednesday: - French, German preliminary inflation (April) - Euro zone, France, Germany preliminary GDP (Q1) - UK nationwide house prices (April) - U.S. advance GDP (Q1) - U.S. core PCE price index (March) Trying to keep up with the latest tariff news? Our new daily news digest offers a rundown of the top market-moving headlines impacting global trade. Sign up for Tariff Watch here. (This story has been refiled to correct the day of the week to Wednesday from Thursday in paragraph 8)
Reuters
30-04-2025
- Business
- Reuters
Morning Bid: Data deluge rounds up turbulent April
A look at the day ahead in European and global markets from Rae Wee Note: There will be no Morning Bid Europe on Thursday, May 1, due to holidays in various markets. The newsletter will resume on Friday, May 2. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. There will be a raft of data for investors to pore over on Wednesday as they wind down a rollercoaster month headlined by a tumultuous trade policy in the United States that bruised markets and dealt a blow on businesses and consumers globally. First up in Europe, preliminary readings on French and German inflation are due, alongside growth data for the two economies and the wider euro zone bloc. The UK also releases figures for home prices. It remains to be seen if the releases will support the case for further rate cuts by the European Central Bank (ECB), but for now markets are leaning toward another round of easing in June. Two ECB policymakers warned earlier this week that a trade war with the United States could extinguish the euro zone's fledgling recovery and the bloc could struggle under tariffs. U.S. GDP data and the core PCE price index then take the stage, where expectations are for the world's largest economy to have grown a meagre 0.3% in the first quarter. As it is, data on Tuesday showed the U.S. trade deficit in goods widened to a record high in March as businesses ramped up efforts to bring in merchandise ahead of the sweeping tariffs, suggesting trade was a large drag on growth. It's a lot for investors to digest at the end of the month, having already been taken on a wild ride following U.S. President Donald Trump's first 100 days in office. But chaos seems to be the new normal these days. There was little to cheer about in markets on Thursday, as relief over a potential easing of global trade tensions was offset by a worsening economic outlook and dour signals from corporates swept up by Trump's tariffs. Despite Trump's move to soften the blow of his auto tariffs and signs of progress in broader trade negotiations, details remain scant, with Commerce Secretary Howard Lutnick saying he had reached one deal with a foreign power. Delivery giant UPS (UPS.N), opens new tab said on Tuesday it would cut 20,000 jobs to lower costs, while General Motors (GM.N), opens new tab pulled its outlook and delayed its investor call, joining a list of companies that have ditched forecasts for 2025 or slashed outlooks. Shares struggled for direction and U.S. futures slid, while the dollar was on track for its worst monthly performance in more than two years. While a fire sale of U.S. assets that gathered steam earlier this month seems to have abated for now, confidence remains fragile and the recent slew of economic data has given investors little reason for them to return. U.S. consumer confidence slumped to a nearly five-year low in April and job openings dropped sharply in March, in signs that cracks in the economy are starting to show. Amid persistent Sino-U.S. trade tensions, the world's second-largest economy is starting to feel the heat too. China's factory activity contracted at the fastest pace in 16 months in April, a survey showed on Wednesday, as Trump's hefty tariffs snapped two months of recovery. Still, Beijing is betting on Washington blinking first in a protracted trade war, as officials advance this year's stimulus plans but hold off on fresh measures. Key developments that could influence markets on Wednesday: - French, German preliminary inflation (April) - Euro zone, France, Germany preliminary GDP (Q1) - UK nationwide house prices (April) - U.S. advance GDP (Q1) - U.S. core PCE price index (March) Trying to keep up with the latest tariff news? here.
Reuters
27-03-2025
- Automotive
- Reuters
Trade barriers are on the rise hindering German companies, commerce chamber says
BERLIN, March 27 (Reuters) - Protectionist tendencies are complicating foreign business for German companies particularly in the United States and postponing a recovery in exports, a survey by the German chamber of commerce DIHK showed on Thursday. "The growing trade barriers and protectionist signals from Washington are causing great concern for our companies," said Volker Treier, head of foreign trade at DIHK. Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here. Donald Trump's newly-announced 25% tariff on imported vehicles to the U.S. will be bad for European and U.S. economies, with German auto associations calling for urgent negotiations to ward off a spiralling trade war. Of the companies surveyed, 70% expect negative impacts of U.S. trade policy on their business, while last year, the U.S. was considered a beacon of hope. The survey, which took place before Wednesday's announcement by Trump, took place among nearly 2,600 internationally active companies based in Germany. The uncertainty caused by U.S. trade policy radiates to all world regions. Despite slight upward trends, business prospects for the current year remain negative in almost all world regions. In the U.S., higher tariffs already pose a burden for half of the German companies active there, while last year it was 24%, according to the survey. In the past twelve months, more than every second internationally active company reported additional trade barriers abroad, the survey among nearly 2,600 internationally active companies based in Germany showed. Local certification requirements and increased security regulations are particularly complicating planning and driving up costs, DIHK said.
Reuters
26-03-2025
- Business
- Reuters
Spain's 2024 economic growth outperformed euro zone, final data shows
March 26 (Reuters) - Spain's economy outperformed other major euro zone countries in 2024, data from the National Statistics Institute (INE) showed on Wednesday, confirming a contrast with euro zone peers. Spain's gross domestic product grew 3.2% in 2024, a much faster rate than France and Italy's close-to-1% expansion and Germany 's economic contraction of 0.2%. Get a look at the day ahead in European and global markets with the Morning Bid Europe newsletter. Sign up here. Spanish growth sped up in 2024 from 2.7% in 2023, led by sectors related to tourism such as transportation, hotels and retail, as well as manufacturing and agriculture, INE's quarterly report said. In the fourth quarter, Spain's economy grew 0.8% from the previous quarter, INE said, confirming the expectations of analysts polled by Reuters and preliminary data. On an annual basis, Spain's fourth-quarter economic output expanded 3.4%, INE said, revising the growth from a preliminary 3.5%. The data was also below the 3.5% expected by analysts polled by Reuters. The Bank of Spain said earlier in March that it expected the country's economy to expand by a still strong 2.7% in 2025, thanks to soaring private consumption.
