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UK Chancellor of the Exchequer George Osborne abandoned his main target of achieving a budget surplus by 2020, as uncertainty linked to the implementation of the unexpected "Brexit" decision is likely to cause an economic slowdown. Read more...

Though there are not much turbulence in the financial markets due to the significant impact of the "Brexit", the central banks are ready to step in when financial stability is disturbed, European Central Bank Executive Board member Benoit Coeure said. In an interview to the French daily Le Monde,... Read more...

Australia's capital city house prices continued to set new record highs in June, led by the surge in dwelling values in Sydney and Melbourne, survey results from CoreLogic showed Friday. The CoreLogic June Home Value Index for all capital cities rose 0.5 percent month-on-month in June. Among... Read more...

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Construction spending in the U.S. unexpectedly decreased in the month of May, according to a report released by the Commerce Department on Friday. The report said construction spending slid 0.8 percent to an annual rate of $1.143 trillion in May from the revised April estimate of $1.152 trillion. Read more...

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Manufacturing activity in the U.S. registered growth for the fourth consecutive month in June, the Institute for Supply Management revealed in a report on Friday, with the index of activity in the sector rising by much more than expected. Read more...

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Following Britain's vote to leave the European Union, Bank of England Governor Mark Carney hinted at providing further stimulus in a speech on Thursday. In remarks to business leaders, Carney said a material slowing in economic growth now looks likely to be the central forecast in reaction to the so-called Brexit. Read more...

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Michael Gove, a surprise candidate for the Tory Leadership and new U.K. Prime Minister, said Friday that he was in the fray out of conviction. In a speech made to make his case for the top position, Gove said, "I had to stand up for my convictions." Read more...

The euro area is exposed to a number of uncertainties both external and internal, Peter Praet, executive board member of the European Central Bank said Friday. He cautioned that the uncertainty originating from the UK referendum could weigh on economic confidence and partly reverse the recent improvements... Read more...

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The British manufacturing sector logged a moderate improvement in June, driven by solid acceleration in new work and output, results of a survey, which received almost all responses ahead of the "Brexit" vote, showed Friday. The Markit/Chartered Institute of Procurement & Supply Purchasing Managers' Index rose to 52.1 from a revised reading of 50.4 in May, its highest level since January, Markit Read more...

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Singapore's home prices continued to decline in the second quarter, data from the Urban Redevelopment Authority showed Friday. House prices fell 0.4 percent in the second quarter sequentially compared to a 0.7 percent drop in the previous quarter. Home prices logged its longest losing streak... Read more...

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China's manufacturing activity remained weak, largely reflecting subdued foreign demand, while the services sector expanded notably in June. The official factory Purchasing Managers' Index came in at 50 in June, in line with expectations, but down from 50.1 in May, data from the National Bureau of Statistics and the China Federation of Logistics and Purchasing showed Friday. Read more...

Japan's consumer confidence improved more-than-expected in June to the strongest level in five months, survey results from the Cabinet Office showed Friday. The consumer confidence index rose to 41.8 in June from 40.9 in the previous month. Economists had expected the index to climb to 41.1. The... Read more...

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The Eurozone unemployment rate reached its lowest since July 2011, mirroring strong labor market situation ahead of "Brexit". Final Purchasing Managers' survey released showed that the recovery in the euro area manufacturing sector gathered momentum in June, but highlighted a wide performance disparity between Germany and France. Read more...

Swiss retail sales continued to decline in May, though at a slower pace than in the previous month, preliminary figures from the Federal Statistical Office showed Friday. Retail sales fell a calendar-adjusted 1.6 percent year-over-year in May, following a 2.2 percent decrease a month ago. Sales have... Read more...

Czech manufacturing growth slowed unexpectedly in June to the lowest level in three years, survey figures from Markit Economics showed Friday. The Purchasing Managers' Index, or PMI, dropped to 51.8 in June from 53.3 in the previous month. Economists had expected the index to rise to 53.6. However,... Read more...

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IHS Global Insight Economist Howard Archer said he believes that the vote to leave the EU is bad news for the UK economy, certainly in the near- and medium-term. In the referendum held on June 23, 52... Read more...

Time (et)
Economic Indicator
Period
Actual
Forecast
Previous
Country
Friday ,Jul.1
Exports
JUN
 
 
$ 17.57 B
Brazil
Imports
JUN
 
 
$ 11.13 B
Brazil
Trade Balance
JUN
 
 
$ 6.44 B
Brazil
01:00
Consumer Confidence Index
JUN
41.8
41.25
40.9
Japan
03:15
Retail Sales (M-o-M)
MAY
0.2 %
 
0.1 %
Switzerland
03:15
Retail Sales (Y-o-Y)
MAY
-1.6 %
 
-1.9 %
Switzerland
03:15
PMI Manufacturing
JUN
52.2
51.83
51.8
Spain
03:30
SVME - Purchasing Manager Index
JUN
51.6
 
55.8
Switzerland
03:50
PMI Manufacturing
JUN F
48.3
47.75
48.4
France
03:55
PMI Manufacturing
JUN F
54.5
54.4
52.1
Germany
04:00
PMI Manufacturing
JUN F
52.8
52.52
51.5
Eurozone
04:30
PMI Manufacturing
JUN
52.1
50.18
50.4 (R)
UK
05:00
Unemployment Rate
MAY
10.1 %
10.12 %
10.2 %
Eurozone
08:00
Industrial Production (M-o-M)
MAY
0.0 %
 
0.1 %
Brazil
08:00
Industrial Production (Y-o-Y)
MAY
-7.8 %
-8.6 %
-7.2 %
Brazil
09:00
PMI Manufacturing
JUN
43.2
 
41.6
Brazil
09:45
PMI Manufacturing
JUN F
51.3
 
50.7
United States
10:00
ISM Manufacturing Survey
JUN
53.2
51.2
51.3
United States
10:00
Construction Spending - Total
MAY
-0.8 %
0.70 %
-2.0 (R) %
United States
10:00
ISM Manufacturing New Orders Index
JUN
57.0
 
55.7
United States
10:00
ISM Manufacturing Prices Index
JUN
60.5
63.5
63.5
United States
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Markets Look to End on an Up Note Despite Ebbing Momentum

The major U.S. index futures are pointing to a slightly higher opening on Friday, reflecting that fragile hopes markets are clinging onto concerning a smooth sailing for the global economy through the Brexit.  The mood across the Atlantic has turned markedly upbeat since mid-session in Europe amid political...
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