Mixed economic releases from across the globe – BBH

Research Team at BBH, notes that the German retail sales rose 0.9% m/m in May vs 0.6% expected, while French consumer spending fell -0.7% m/m vs. an expected flat reading.

Key Quotes

“German unemployment was also reported for June at  6.1%, as expected.  Eurozone CPI rose 0.1% y/y vs. expectations for a flat reading, while core CPI rose 0.9% y/y vs. 0.8% expected.  Overnight, Japan reported much weaker than expected IP data for May, at -2.3% m/m vs. -0.2% expected. 

During the North American session, the US reports weekly jobless claims and the June Chicago PMI.  Canada reports April GDP, which is expected to grow 1.4% y/y vs. 1.1% in March.  The Fed’s Bullard speaks today in London.”