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United States Continuing Jobless Claims

United States Philadelphia Fed Manufacturing Index

DE40 increased to an all-time high of 19000.00 Index Points. Over the past 4 weeks, Germany Stock Market Index (DE40) gained 3.49%, and in the last 12 months, it increased 20.38%.

Stocks in Germany Hit All-time High

Portugal's current account surplus widened to EUR 1,213 million in July 2024 from EUR 753 million in the same month a year earlier. The services surplus rose to EUR 3,423 million from EUR 3,086 million in January 2023, driven by an increase in tourism revenues (EUR 3,375 million from EUR 3,092 million). At the same time, the primary income gap narrowed to EUR 237 million from EUR 814 million. On the other hand, the goods account shortfall increased to EUR 2,452 million from EUR 1,998 million a year earlier. Meanwhile, the secondary income surplus remained largely unchanged at EUR 480 million.

Portugual Current Account Surplus Widens in July

The National Bank of Moldova held its benchmark interest rate steady at 3.6% in September 2024 for the third straight meeting to allow earlier monetary measures to take effect. Annual inflation in Moldova increased slightly to 5.1% in August, up from 4.8% in July, continuing an upward trend that began in June. The rise in inflation was primarily due to higher food prices and core inflation, while regulated prices and fuel costs helped ease some of the inflationary pressures. The central bank's policy stance is aimed at keeping these inflationary trends under control in the medium term, ensuring that inflation does not exceed the target range. As for economic growth, Moldova's economy showed moderate growth in the second quarter of 2024, with GDP expanding by 2.4% compared to the same period in the previous year.

Moldova Maintains Key Rate at 3.6%

South Africa's 10-year government bond yield was around 9%, after the US Federal Reserve kicked off an anticipated series of interest rate cuts with a large half-percentage-point reduction. Domestically, the South African Reserve Bank (SARB) is widely expected to cut interest rates by 25 basis points later today, as inflation appears to be under control and steadily declining. Inflation has trended lower for six months, hitting 4.4% in August and dipping below the SARB's 4.5% target for the first time since April 2021. A stronger rand and the need to stimulate economic growth are also key factors supporting the anticipated rate reduction.

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