Think Thursday

Ranora Daily - Your daily source for reliable market analysis and news.

June 08, 2023

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

  • China rate-cut expectations grow as signs of weak recovery mount

  • Reserve Bank of India’s MPC voted unanimously to keep repo rate unchanged at 6.5% for second successive meeting and kept its "withdrawal of accommodation" message.

  • Bank of Korea warns on easing monetary policy too early and putting pressure on the Won.

  • Japanese companies with a March reporting season are projecting dividends totaling JPY15.2T this year, which would be the third straight record.

  • Japan Q1 GDP upgrade bigger than expected, driven by private inventories. Q1 GDP growth was revised up to 2.7% q/q annualized from first preliminary estimate of 1.6%.

  • Taiwan exports sink again, marking ninth consecutive months of weakness and outlook remains bleak

Europe, Middle East, Africa

  • EU governments sell €27B debt, busiest week since 2020

  • Eurozone's Q1 GDP -0.1% qtr/qtr (expected 0.0%; last -0.1%); 1.0% yr/yr (expected 1.2%; last 1.8%).

  • Eurozone Q1 Employment Change 0.6% qtr/qtr, as expected (last 0.3%); 1.6% yr/yr (expected 1.7%; last 1.5%)

  • UK labor market shows signs of cooling. Starting salaries slipped to a 25-month low, although salary levels for new hires still running at a relatively sharp pace.

The Americas

  • Apple cuts Vision Pro sales target to 150K units vs previously discussed 1M units

  • US Treasury’s $1tn borrowing drive set to put banks under strain. Analysts fear scale of new issuance following debt ceiling fight will push up yields and suck cash out of deposits.

The Week Ahead:

  • Monday: US May ISM Services index comes in at 50.3; est 51.8.

  • Tuesday: IBD/TIPP economic optimism, API crude oil stock change

  • Wednesday: US trade deficit, EIA stocks change, consumer credit change

  • Thursday: Initial jobless claims, wholesale inventories

  • Friday: WASDE report

Investment Tip of The Day

Stay educated and informed: Continue educating yourself about investing and personal finance. Read books, attend webinars or seminars, and follow reputable financial news sources to enhance your knowledge and make well-informed investment decisions.

Meme of the Day

Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.