Welcome to the first August recap of the most important events we followed last week.
It was really busy and apart from the classic data we were also expecting three central bank meetings.
Let's see how it turned out.
During the last trading week, we had data coming in from the euro area that didn't come out so brightly.
- PMI (manufacturing) - current: 49.8 / previous: 52.1
- PMI (services) - current: 51.2 / previous: 53.0
The Bank of England raised rates by 50 basis points at its Thursday meeting, as the market had expected.
America offered us similar PMI and labour market data last week.
The services sector signalled its sharpest decline since May 2020 and the unemployment rate fell in July to its lowest level since February 2020.
Earlier last week, the Reserve Bank of Australia held its monetary policy meeting and also raised rates by 50bp, as expected.
The CNB left rates unchanged.
And what's in store for the current trading week?
This week will be much poorer.
We can expect most of the incoming data to come from the US and the UK, with the latest US inflation numbers and Friday's GDP from the UK due on Wednesday.