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European Economic News Preview: UK Unemployment Data Due
(RTTNews) - Unemployment from the UK and industrial production from Italy are the top economic news due on Tuesday.
At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is forecast to fall to 4.6 percent in three months to April from 4.5 percent in the preceding period.
At 4.00 am ET, Italy's statistical office ISTAT publishes industrial production for April. Economists expect industrial output to grow 0.1 percent month-on-month, the same rate of increase as seen in March.
At 4.30 am ET, Eurozone Sentix investor confidence survey data is due. The investor sentiment index is expected to rise to -6.0 in June from -8.1 in May.
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Canadian Dollar Higher Amid Rising Oil Prices
The Canadian dollar advanced against its most major counterparts in the New York session on Friday amid a spike in oil prices after Israel launched fresh wave of attacks on Iran.
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Swiss Stock Market Heads South On Friday
The Swiss stock market turned lower again on Friday, one day after snapping the two-day slide in which it had given up more than 50 points or 0.4 percent.
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European Markets Slide On Middle East Concerns
The major European markets slumped on Friday as heightened Middle East tensions offset encouraging inflation data from Germany and France.
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U.S. Consumer Sentiment Improves Much More Than Expected In June
Preliminary data released by the University of Michigan on Friday showed a substantial improvement by consumer sentiment in the U.S. in the month of June. The University of Michigan said its consumer sentiment index surged to 60.5 in June after holding at 52.2 in May. Economists had expected the index to rise to 53.5.
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CPSC Recalls: 1.2 Mln Anker Power Banks, Hedge Trimmers, High Chairs, Mattresses, Pool Covers
The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 1.2 million Anker Power Banks, as well as hedge trimmers, high chairs, mattresses, pool covers and Skywalker Pro Via Ferrata Sets. China- based Anker Innovations Limited has called back about 1.16 million units of power banks citing fire and burn risks, and TTI Outdoor Power Equipment recalled...
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FTSE 100 Falls Amidst Israel-Iran Conflict
Renewed geopolitical tensions from the Israel-Iran conflict weighed on sentiment for the FTSE 100 benchmark as it shed more than a quarter percent in Friday's trade.
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Eurozone Trade Surplus Declines To 3-Month Low
Eurozone trade surplus declined to a three month low in April as demand from the US softened following tariff hikes, official data revealed on Friday. The trade surplus declined to EUR 9.9 billion in April from EUR 37.3 billion in March, Eurostat reported. This was the lowest surplus since January. In the same period last year, the surplus totalled EUR 13.6 billion.
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Geopolitical Tensions Drag Down CAC 40
An escalation in geopolitical tensions in the Middle East triggered by the Israel-Iran conflict weighed on market sentiment dragging down the CAC 40. Concerns about the trade dispute between the U.S. also weighed on sentiment.
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