The Mexican peso (EWW) continued to rise in July 2017, touching an 18-month high following the easing of President Donald Trump’s anti-trade rhetoric in the last few months.
Consumer prices in Mexico (EEM) surged 6.31% year-over-year (or YoY) in June 2017, compared to their 6.16% rise YoY in May.
Global (ACWI) recovery in 2017 has helped labor market conditions to improve across OECD (Organisation for Economic Co-operation and Development) nations.
Economic activity in Mexico rose 3.1% year-over-year (or YoY) in May 2017, a rebound from its YoY fall of 0.57% in April 2017.
The most important indicators this week are the UK’s 2Q17 GDP growth, the US Consumer Confidence Index, and the Germany Ifo Business Climate Index.
According to a report by the Office for National Statistics, on a monthly basis, the United Kingdom’s inflation remained unchanged in June 2017.
The Germany ZEW Economic Sentiment Index was 17.5 in July 2017 compared to 18.6 in June. It didn’t meet the market expectation of 18.0.
The Eurozone ZEW Economic Sentiment Index stood at 35.6 in July compared to 37.7 in June 2017. It didn’t meet the market expectation of 37.2.
On a year-over-year basis, the Eurozone inflation index was 1.3% in June 2017 compared to 1.4% in May, according to data provided by Eurostat.
According to a report by the European Commission, the Eurozone Consumer Confidence Index was -1.7 in July 2017.
Global investors should keep an eye on economic indicators to understand the condition of global economies and their economic health.
Business confidence in Russia (ERUS) in June 2017 continued to be stable month-over-month and higher than it was last year during this time.
Business activity in Russia’s (ERUS) service sector continued to increase in June but at a slower pace than the previous month.
Manufacturing activity in Russia fell to 50.3 in June 2017 from 52.4 in May 2017.
Many macroeconomic indicators in Russia (ERUS) are showing signs of improvement in 2017.
The Russian ruble (ERUS) tends to move in line with crude oil prices (USO) (UCO).
Russia’s (ERUS) current account recorded a $0.3 billion gap in 2Q17 as compared to a $23.3 billion surplus in the previous quarter and a $2 billion surplus in the same period.
The consumer prices in Russia (ERUS) rose 4.4% on a year-over-year basis in June 2017 following a 4.1% rise in the previous month.
Improved industrial production and exports in Russia (RSX) have helped to lift the country’s economic activity in 2017.
Although Asian markets have outperformed most of the other regions this year, their performance over the past few years has remained sluggish overall.