Look ahead: Adobe; Crest Nicholson; US producer price index; US initial jobless claims
Brace for more US dollar volatility with producer price index data and the latest print on US initial jobless claims. On the earnings front, Adobe, Crest Nicholson and Virgin Money report.
(AI Video Summary)
Economic data and forex news
In the financial "Look ahead" to Thursday, 13 June, provided by Angeline Ong, key data points include Australian consumer confidence and unemployment figures, coupled with eurozone industrial production data showing a 2.7% monthly increase for April.
In the US, inflation reported a 3.3% year-on-year increase, with unchanged consumer prices in May - an unexpected event primarily influenced by gasoline prices. This has influenced Federal Reserve's stance to keep rates unchanged, watching inflation trends closely before any future rate cuts, potentially delaying beyond September.
Meanwhile, the US dollar shows weakness, impacting euro value and reacting to less-than-expected consumer price rises.
Stock market news
In the stock markets, Adobe highlighted AI-related challenges, affecting its financial outlook and stock price, which has seen substantial decline. The video also previewes future data releases and earnings reports from significant firms including Virgin Money, Crest Nicholson, and Adobe, which continues in focus due to its AI integration issues.
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