Previous Trading Days Events 15 Feb 2024

The labor market data for Australia showed very weak employment growth in January, while the jobless rate climbed to a twoyear high. Net employment rose just 500 in January from December, when it dived 62,800. Fulltime employment added 11,100 in January, after sliding the month before. 

The jobless rate rose to 4.1, topping forecasts of 4.0 and the highest since January 2022. 

Source httpswww.reuters.commarketsaustraliaunemploymenthits2yearhighjobsgrowthsputters20240215

The GDP figures released for the U.K. suggest that the economy fell into a recession in the second half of 2023. Gross domestic product GDP contracted by 0.3 in the three months to December, having shrunk by 0.1 between July and September.

Investors added to their bets on the Bank of England BoE cutting interest rates this year and businesses called for more help from the government in a budget plan due on March 6.

The news that the UK slipped into technical recession in 2023 will be a blow for the prime minister on a day when he faces the prospect of losing two byelections, Gregory said.

Recent data showed that inflation held at a lowerthanexpected 4.0 in January, reviving talk among investors about a BoE rate cut as soon as June.

Source httpswww.reuters.comworldukukeconomyenteredrecessionsecondhalf202320240215

U.S. retail sales tumbled 0.8 last month, the biggest drop since March 2023, suggesting slowing momentum in consumer spending. However,…