PrimeVest FX & Equities Insight, Singapore (2026)

16/08/2025

The Week Ahead: US inflation

11 - 15 August 2025

Could US inflation accelerate further?

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

Could US inflation climb further?

US consumer price index: 12 August, 12:30pm UTC

After June’s hotter-than-expected* print, all eyes are on this month’s US CPI figures.

Last time, tariffs and rising energy costs pushed annual inflation to 2.7% – the sharpest rise since February. With commodity prices still volatile and trade tensions heating up, markets will be watching for signs of persistent price pressure.

The Fed has held off on rate cuts so far this year – traders will be waiting to see if a sustained rise in inflation might complicate that stance. While some commentators are pricing in looser policy later in 2025,* sticky prices might force the Fed to keep borrowing costs higher for longer. Could this stir movement across indices, forex and gold?

How might RBA rate news and major GDP data affect the markets?

RBA interest rate decision: 12 August, 4:30am UTC

UK GDP: 14 August, 6:00am UTC

Eurozone GDP: 14 August, 9:00am UTC

In other news, the Reserve Bank of Australia announces its latest interest-rate decision on Tuesday. With inflation easing but still above target, commentators are split on whether the RBA will hold or hike* – and the AUD and Australia 200 could be impacted either way.

Then on Thursday, UK GDP lands, followed by eurozone GDP. With growth in both regions under pressure, could weaker data fuel speculation around future rate cuts – putting the spotlight on EUR/USD, GBP/USD and regional indices?

Circle and CoreWeave report again – what next?

CoreWeave earnings: 12 August, after market close

Circle earnings: 12 August, after market close

Stablecoin issuer Circle and AI-focused cloud provider CoreWeave are set to release their second earnings reports since going public – an important update for traders tracking performance and market positioning..

Both stocks operate in fast-moving sectors where expectations are high, and earnings releases can trigger sharp market reactions. Is growth picking up pace, or falling flat? And are profitability concerns starting to ease – or just getting started? Find out this week.

After last week’s Bank of England rate cut, this week’s UK data could offer clues on what’s next.

The country’s June jobs report lands on Tuesday morning, with markets zeroing in on average earnings and the unemployment rate. Could stubborn wage growth signal that domestic inflation pressures are proving harder to shift? If so, the BoE may have a tricky road ahead.

Then on Thursday, Q2 GDP and the June monthly print will give a broader view of the UK economy. With growth already under pressure and inflation still elevated, might signs of contraction raise the risk of stagflation – an increasingly challenging environment for both policy and markets?

Kind regards.

05/08/2025

The Week Ahead: BoE rate decision

4 - 8 August 2025

Will the BoE pull the trigger on a cut?

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

Will the BoE cut, and how might markets react?

BoE interest-rate decision: 7 August, 11:00am UTC

Analysts still expect the Bank of England to cut rates this week,* but confidence has wobbled after inflation unexpectedly accelerated to 3.6% in June, up from 3.2% the month before. For many consumers, that rise confirmed what they already feel in day-to-day prices. While falling job vacancies and weak growth support a rate cut, the inflation surprise has muddied the waters. The Bank may still go ahead – looking through current pressures in anticipation of a return to the 2% target next year – but it will need to justify that stance. Could any hesitation or change in tone jolt UK-focused assets and the pound?

Might US services and eurozone retail data hit asset prices?

ISM services PMI: 5 August, 2:00pm

Eurozone retail sales: 6 August, 9:00am

This week, two other key data releases could shape early August market moves. First, the US ISM Services PMI will test the resilience of the world’s largest services economy. A strong print may fuel speculation the Fed will stay hawkish for longer, pushing Treasury yields and the US dollar higher, potentially weighing on stocks. But if cost pressures or hiring weakness show through, risk assets could catch a tailwind.

Kind regards,

Then comes eurozone retail sales, where recent strength – especially from Spain – has hinted at a potential consumer rebound. Might a stronger result than expected* support the euro and boost confidence in the region’s economic recovery? Or could a miss reinforce eurozone growth concerns and pressure EUR/USD?

In other news, Q2 bank earnings are set for this week, with Wells Fargo, Bank of America and Morgan Stanley just a few of the giants set to provide a snapshot of banking sector health.

*Analysts polled by Reuters

It’s a quieter week ahead following what was likely the biggest in terms of news flow so far this year. The same core themes – US economic data, central bank policy, and big tech earnings – will continue to guide sentiment. Trade uncertainty has eased but hasn’t disappeared, and with US President Trump still calling for lower rates, markets will scrutinise any signals around jobs, inflation and the Fed’s next move. In terms of events, the spotlight is on the US ISM Services PMI, while in the UK, the Bank of England is expected to cut rates* as it wrestles with stubborn inflation and weak growth.

01/08/2025

The Week Ahead: Fed rate decision

28 July - 01 August 2025

Could there be a shock cut from the Fed?

Dear NGUYEN PHUNG.

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

Will the Fed stay firm, or blink?

Fed interest-rate decision: 30 July, 6:00pm UTC

The Fed’s next interest-rate decision drops this Tuesday, and markets widely expect rates to hold at 4.25-4.5%* – but this meeting could shift expectations for what comes next.

Inflation has eased in recent months, while the US jobs market remains resilient. Still, political pressure is mounting. President Trump has ramped up criticism of Fed Chair Powell, urging cuts to ease government debt costs. Powell has stayed tight-lipped – but traders will be watching for any reaction.

The Fed won’t want to surprise the market, so if a cut is coming in September, this meeting or Powell’s press conference may drop a hint. Any sign of internal dissent could also spark volatility.

A steady hand could support the US dollar and weigh on equities. But a dovish pivot – or a shock move – could shift momentum fast.

*Analysts polled by Reuters

Big tech, big moves?

Meta, Microsoft earnings: 30 July, after market close

Amazon, Apple earnings: 31 July, after market close

Non-farm payrolls: 1 August, 12:30 UTC

With Meta, Microsoft, Amazon and Apple all reporting earnings, and US jobs data on the horizon, it could be a key week ahead for market direction.

Meta and Microsoft report after the close on Wednesday. For Meta, ad revenue and AI spending will be in focus – but traders will be watching whether Threads is gaining traction or just treading water. Microsoft’s update will hinge on Azure performance and early signals on Copilot adoption.

Then on Thursday, Amazon and Apple take the spotlight. Amazon needs to show AWS is holding up and that margins are improving as consumer momentum softens. And if Apple face a drop in iPhone sales, the market will be looking for a strong showing in services and signs that China demand isn’t fading.

Finally, Friday brings the latest US non-farm payrolls data. With traders increasingly pricing in a September rate cut,* will this release be a key driver of USD and equity direction into the second half of the week?

Earnings release dates are subject to change due to factors such as internal reporting schedules or regulatory requirements. For the most up-to-date information, please refer to each company's corporate website.

*Source: CME FedWatch Tool

Markets are deep into US earnings season, with sentiment steady despite ongoing trade uncertainty. Investors are largely pricing in a calm outcome ahead of the 1 August trade deadline,* supported by a solid start to earnings and Wall Street testing fresh record highs.

This week, big tech takes centre stage as Apple, Amazon, Meta and Microsoft report. Meanwhile, the Fed is expected to hold rates steady,* despite mounting pressure from the White House for a cut.

*Analysts polled by Reuters

Kind regards.

24/07/2025

The Week Ahead: US and UK inflation

21 - 25 July 2025

Could the ECB make a surprise cut?

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

Could the ECB make a surprise cut?

ECB interest-rate decision: 24 July, 12:15pm UTC

The European Central Bank (ECB) is widely expected to halt its run of loose policy* after June’s latest 25 basis-point rate cut, with inflation back at the 2% target and growth showing signs of stability. Policymakers like Isabel Schnabel say the bar for further easing is now ‘very high’. But the outlook remains clouded by risks, including Donald Trump’s proposed 30% tariffs on EU goods, which exceed even the ECB’s worst-case scenarios.

That threat of a new trade shock comes just as the ECB prepares to keep policy steady and reassess over the summer. But could a surprise decision shake euro-linked markets?

*Analysts polled by Reuters

Can Alphabet momentum continue, and will Tesla disappoint?

Alphabet earnings: 23 July, after market close

Tesla earnings: 23 July, after market close

All eyes are on Alphabet and Tesla as Q2 earnings season kicks off for Big Tech. Google’s parent has seen its stock double since early 2023, powered by growth in AI, cloud, and its Waymo robotaxi division. Revenue and profit surged in Q1, with AI integration and cloud demand likely key talking points this quarter.

Tesla, meanwhile, faces a more sceptical market. UBS analysts say the stock is ‘fundamentally overvalued’, citing weaker auto margins, delayed vehicle plans, and uncertainty around its new robotaxi launch. Will Elon Musk’s focus (or lack thereof) come under scrutiny?

Earnings release dates are subject to change due to factors such as internal reporting schedules or regulatory requirements. For the most up-to-date information, please refer to each company's corporate website.

Global markets are holding their ground even as the US considers a new wave of tariff hikes – measures that could rival those seen during the so-called ‘Liberation Day’ events.

Meanwhile, the ECB meets this week. Markets expect rates to stay unchanged* as policymakers take a ‘wait and see’ approach, assessing the longer-term effects of global trade uncertainty.

Over in the US, earnings season moves up a gear. Investor focus now shifts to major tech companies to see if they can maintain the strong profit growth that’s helped power Wall Street’s record highs.

Kind regards!

25/06/2025

The Week Ahead: key interest-rate decisions

23 - 27 June 2025

Decision week for the Fed and BoE

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

How might US and UK rate decisions move assets?

US GDP: 26 June, 12:30pm UTC

US Core PCE: 27 June, 12:30pm UTC

Two major US data points will hit this week: US GDP and core PCE, the Fed’s preferred measure of inflation that strips out volatile food and energy prices. Both could provide clarity on the Fed’s next steps as policymakers balance conflicting pressures. Inflation is near target at 2.1%, and unemployment remains low, but fresh tariffs and political pressure are complicating the outlook. Although the Fed has held steady for now, could we see potential cuts later this year if growth slows and inflation stays contained?

Markets will be watching this week’s prints closely: a stronger-than-expected slowdown could bolster the case for cuts, while any inflation surprise might delay them.

Will global markets move on international stats?

Eurozone PMI: 23 June, 8:00am UTC

Australia CPI: 25 June, 1:30am UTC

UK GDP: 27 June, 6:00am UTC

Outside of the US, three potentially high-impact releases could stir cross-asset volatility this week. Eurozone PMIs will offer a fresh pulse check on growth momentum across the bloc, where sluggish manufacturing and tepid demand have kept the ECB cautious. In Australia, inflation data takes on added significance as rising oil prices driven by Middle East tensions add a layer of uncertainty. And UK GDP data may be key to gauging the strength of Britain’s fragile post-election economy, and missed expectations could revive recession talk.

Could these prints move currency pairs, equity indices, and rate expectations?

The stock market is said to climb a wall of worry – and so far, traders have done a decent job scaling it. But just when it feels like the summit is in sight, the wall gets steeper. Geopolitical risks in the Middle East have joined longstanding concerns over trade policy and the US fiscal outlook. Central banks added their own wrinkles last week, creating fresh ripples of uncertainty.

Looking ahead, geopolitics, trade, fiscal tension, and monetary policy will remain dominant themes – and likely key sources of market volatility. Add to that a busy US data calendar, including GDP and inflation figures. With signs the US economy may be losing momentum, every data point will be under the microscope.

Kind regards.

18/06/2025

The Week Ahead: key interest-rate decisions

16 - 20 June 2025

Decision week for the Fed and BoE

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

How might US and UK rate decisions move assets?

Federal Reserve interest-rate decision: 18 June, 6:00pm UTC

Bank of England interest-rate decision: 19 June, 11:00am UTC

Two big rate decisions land this week. The Federal Reserve is expected to hold steady on 18 June* after inflation slowed to 2.3% – but traders will be keeping a close eye on whether Trump’s tariffs might complicate the path ahead.

The Bank of England meets a day later – could sticky UK inflation at 3.5% add pressure to keep rates higher for longer? Will cautious central banks support shares and indices, or could lingering inflation and trade risks drive new volatility?

*Analysts polled by Reuters

Can the UK take control of inflation?

UK consumer price index: 18 June, 6:00am UTC

Before the Bank of England’s rate decision, the latest UK consumer price index data will be revealed on 18 June. With inflation stuck at 3.5%, markets will be watching for signs that price pressures are easing – or worsening. A hotter-than-expected print could strengthen the case for holding rates, while a downside surprise might open the door to further cuts.

Against a backdrop of surging energy costs and a cooling labour market, what could the latest inflation data mean for UK assets?

Global markets are bracing for a wave of central bank decisions this week, with policymakers and traders alike navigating a landscape clouded by uncertainty.

The US Federal Reserve’s FOMC meeting takes centre stage, with markets widely expecting rates to remain unchanged.* Still, investors will watch closely for any signals around the timing and pace of potential cuts.

Meanwhile, the Bank of Japan and Bank of England will also deliver rate decisions, adding to a week heavy with macro risk events. Any shift in tone could spark volatility across major asset classes.

Several key indices are hovering near record highs, supported by resilient economic data and easing inflation pressures. But to sustain this momentum, traders may need fresh catalysts, particularly on the geopolitical front, with US trade negotiations remaining a critical watchpoint.

*Analysts polled by Reuters

Kind regards.

09/06/2025

The Week Ahead: US inflation

9-13 June 2025

Could tariffs undo US disinflation?

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

Will the US have added even more jobs?

US consumer price index: 11 June, 12:30pm UTC

US inflation eased to 2.3% in April – its lowest in over three years – edging closer to the Fed’s 2% target. But the outlook isn’t clear-cut. That same month, President Donald Trump reintroduced a raft of global tariffs, sparking debate over whether fresh trade barriers could reignite price pressures. While energy and goods prices have cooled, housing remains sticky.

Could signs of cooling inflation lift shares and pressure the US dollar if markets grow more confident about potential rate cuts? Might renewed tariff fears keep traders on edge and limit the upside? And what could be the impact on Fed policy?

Will Chinese inflation stay stuck in neutral?

China consumer price index: 9 June, 1:30am UTC

As the world watches US inflation for signs of sticky price pressures, China faces the flip side: deflation. The latest CPI and PPI data will show whether the world’s second-largest economy is still struggling with weak demand and falling prices, or whether stimulus efforts are finally gaining traction.

Traders will watch to see how the data impacts China A-shares and the Aussie dollar. Could persistent deflation weigh on Chinese equities and ripple into commodity-linked currencies like AUD? Or might a surprise rebound lift sentiment across Asia-Pacific markets?

As trade tensions simmer, US Congress debates fiscal plans, and traders digest the latest jobs data, attention is shifting back to inflation. Upcoming US price figures will offer fresh clues: are price pressures continuing to ease, or are President Trump’s new tariffs starting to bite?

Meanwhile, on the other side of the world, Chinese inflation data will be in focus for the opposite reason. Markets will be watching to see if the world’s second-largest economy remains stuck in deflation, as it grapples with the fallout from the trade war.

Kind regards.

09/06/2025

ECB Preview: are more rate cuts coming?

ECB Preview: How many more cuts should we expect?

The European Central Bank (ECB) will hold its next monetary policy meeting on Thursday, June 5, with markets widely anticipating another interest rate cut.

Interest Rate Outlook

At its most recent meeting in April, the ECB reduced its key interest rates by 25 basis points, bringing the deposit facility rate to 2.25%. Markets are now pricing in another cut in June, though expectations for further easing beyond that remain uncertain. A potential pause in July is gaining traction, as the ECB evaluates incoming economic data and inflation dynamics.

Source: refinitiv

Economic Considerations

The ECB’s policy decisions hinge on maintaining a stable balance between inflation control and supporting economic growth.

Inflation in the Eurozone is projected to ease further throughout 2025. The preliminary May CPI reading, due two days before the meeting, is forecast by Reuters to show headline inflation falling to the ECB’s 2% target. A confirmation of this decline would likely reinforce the case for another rate cut.

However, given the central bank has already eased rates by 175 basis points over the past year, divergence within the Governing Council has emerged. Some members advocate for caution, signalling that the timing and pace of further rate cuts are still subject to debate.

On the growth front, the Eurozone faces headwinds from global trade tensions and subdued consumer demand. Rising mortgage payments are already prompting households to cut spending or dip into savings, posing a risk to overall consumption. However, recent GDP data indicates modest resilience, with quarterly growth picking up modestly over the past year.

The ECB has also stressed the importance of structural financial reforms and joint EU-level investments, particularly in defence and technology, to enhance long-term economic stability.

Market Implications

Investors will be closely parsing the ECB’s language for signals on the future path of interest rates.

A dovish stance, including a June rate cut with a signal of continued easing, would likely boost European equities, especially rate-sensitive sectors, as lower yields make stocks more attractive than bonds.
In currency markets, a dovish ECB would likely weaken the euro, especially against the US dollar, given expectations that the Federal Reserve will hold rates steady for longer. This could extend recent downside pressure on EUR/USD.

Conversely:

If the ECB cuts rates but expresses concern about lingering inflation risks, this could unsettle equity markets while offering some support to the euro.
A hawkish stance, involving either no rate cut or messaging that downplays further easing, may pressure equities but could strengthen EUR/USD, particularly if the ECB expresses greater confidence in the Eurozone’s economic resilience.

Conclusion

The ECB’s June meeting will be a pivotal moment in determining the trajectory of monetary policy for the second half of 2025. With inflation nearing target and economic signals still mixed, the central bank must carefully navigate the trade-off between supporting growth and anchoring price stability.

Kind regards.

03/06/2025

The Week Ahead: non-farm payrolls

2- 6 June 2025

What will NFP reveal about US prospects?

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

Will the US have added even more jobs?

Non-farm payrolls: 6 June, 12:30pm UTC

In April, US non-farm payrolls rose by 177,000 vs. 130,000 expected – a solid number, though lower than the 228,000 gain seen in March. But despite persistent hiring, cracks are showing in the broader economic picture. GDP contracted by 0.3% in Q1, the first decline since 2022, largely due to a surge in imports ahead of Donald Trump’s sweeping new tariffs. After Trump threatened a 50% tariff on all EU goods from July 9, markets began watching closely for signs of strain in consumer spending and domestic demand – key components of job growth.

So how will markets react to this week’s jobs number? Will traders focus on the headline, or the health beneath it?

Will the ECB cut yet again?

ECB rate decision: 5 June, 12:15pm UTC

On Thursday, the ECB will announce its latest rate decision after a steady shift toward looser policy. Markets are widely expecting the eighth rate cut in 12 months,* continuing a campaign that began in mid-2024 as inflation eased and growth stagnated. A move from 2.25% to 2.00% is currently priced in – but the real focus will be on whether this marks a pause or if more cuts are still on the table. With euro area inflation drifting closer to target and several policymakers calling for caution, traders will be watching closely for any hint of a summer slowdown in the ECB’s dovish momentum.

On-again, off-again tariffs are keeping traders on edge, while jitters in global bond markets continue to rattle nerves – especially with US President Trump on the verge of passing his tax cuts. Still, markets will look to anchor themselves in hard data in the week ahead. A fresh batch of US jobs figures could shed light on how trade policy uncertainty is affecting the labour market.

Meanwhile, the ISM surveys will offer a more forward-looking gauge of US growth, at a time when concerns about slowing momentum and rising inflation persist. In Europe, the ECB will meet to set rates as the central bank grapples with a weakening economic outlook amid ongoing trade tensions.

Kind regards.

20/05/2025

Inside Buffett’s portfolio 🔍

Breaking down the reasons behind each investment

Now that you know more about Berkshire Hathaway and the brains behind it, it’s time to look at its portfolio. We’ve covered the principles behind how Warren Buffett makes his picks, but in this email, we’re taking a look at the company’s five biggest holdings (by percentage). Together, they make up almost two thirds of Berkshire’s entire portfolio.

As a reminder, Buffett focuses on businesses with strong fundamentals, a moat (competitive advantage), and sticks to sectors or businesses that he understands and believes in for the long-term. Let's see how these criteria play out:

🍏Apple (AAPL)

Apple represents Berkshire Hathaway's largest holding, making up almost 24% of its investments (or $67.8bn) – since first investing in AAPL in Q1 2016, shares have gained almost 800%*.

Why Buffett likes it: Apple's strong brand loyalty, vast ecosystem, and consistent cash flow align with Buffett's focus on quality businesses. He also recognises Apple's moat in its loyal customer base and well-integrated hardware and software.
Key takeaway: even traditional value investors can find opportunities in innovative companies with strong consumer loyalty.
*From 1 March 2016 to the time of writing

💳American Express (AXP)

American Express has been a core holding in Berkshire Hathaway’s portfolio for decades, currently making up nearly 14% of its investments (worth around $38B). Since first investing in the company in the 1960s, Buffett has consistently praised its brand power and customer loyalty.

Why Buffett likes it: AmEx benefits from a strong moat of its own, built on high-spending cardholders, premium branding, and a robust merchant network. Its ability to charge higher transaction fees and maintain long-term customer relationships aligns with Buffett’s preference for companies with long-term potential.
Key takeaway: investing in companies with strong brand loyalty and recurring revenue streams has the potential for long-term growth, even in cyclical industries like finance.

🥤Coca-Cola (KO)

Coca-Cola is one of Berkshire Hathaway’s most famous investments, currently accounting for just over 10% of its holdings (valued at $28.4B). Buffett started buying KO shares in 1988, and it remains a cornerstone of the portfolio decades later.

Why Buffett likes it: Coca-Cola’s global dominance, pricing power, and timeless appeal make it a textbook example of a Buffett-style investment. With a history of strong dividend payments and a brand recognised worldwide, it continues to generate stable cash flow. He’s also famously said he’s 25% Cherry Coke himself, referring to his five-a-day soft drink habit.
Key takeaway: businesses with global reach, strong brand identity, and predictable revenue can be valuable long-term investments, even in evolving markets.

🏦Bank of America (BAC)

Berkshire Hathaway holds almost 9% of Bank of America, making it the second-largest shareholder. Currently, BAC makes up around 9.8% of Berkshire’s portfolio ($27B). Buffett significantly increased his stake in 2017, seeing long-term value in the banking giant.

Why Buffett likes it: BOA is one of the largest and most stable banks in the US, with a strong deposit base and disciplined risk management. Its ability to generate profits from interest income and financial services aligns with Buffett’s strategy of owning well-run financial institutions with durable earnings potential.
Key takeaway: much like with AmEx, even in sectors as volatile as banking, choosing financially-strong institutions with solid balance sheets has historically worked for Buffett.

⛽Chevron (CVX):

Chevron is Berkshire Hathaway’s largest energy investment, representing about 6.6% of the portfolio ($18B). Buffett first bought shares in 2020, increasing his stake as oil prices surged.

Why Buffett likes it: Chevron’s strong cash flow, reliable dividends, and disciplined capital management made it an attractive investment. Buffett values companies that can generate consistent profits while navigating commodity price fluctuations.
Key takeaway: even in industries with cyclical risks, focusing on financially sound companies with strong cash generation can provide long-term value.

Kind regards.

24/04/2025

The Week Ahead: Tesla and Alphabet earnings

21 - 25 April 2025

Can Tesla bounce back?

Our weekly insights keep you informed on the big news and asset trends likely to influence markets in the coming week.

Is it crunch time for Tesla?

Tesla earnings: 22 April, after market close

Alphabet earnings: 24 April, after market close

Tesla's share price has tumbled this year, with falling orders, fresh tariffs, and Elon Musk’s divisive DOGE distractions all fuelling the selloff. Tuesday’s earnings could mark a key turning point – will the results shed light on how the company is navigating some of the most turbulent macroeconomic conditions in recent memory?

Meanwhile, Alphabet’s leading role in machine learning, automation, and generative AI has kept some traders bullish. But Thursday’s report could be just as revealing – will it support the optimism or spark a reassessment of the road ahead?

Earnings release dates are subject to change due to factors such as internal reporting schedules or regulatory requirements. For the most up-to-date information, please refer to the company's corporate website.

Will UK CPI accelerate again?

Europe PMI: 23 April, 8:00am UTC

UK PMI: 23 April, 8:30am UTC

Data is thin on the ground this week, but there’s still the Purchasing Managers’ Index for Europe and the UK – key gauges of strength in manufacturing, services, and overall economic momentum.

In April, Europe’s composite PMI rose to 50.9 from 50.2, beating the flash estimate of 50.4 and signalling modest growth. Still, it remains below the long-term average and only just above the 50-mark that separates expansion from contraction. Will Wednesday’s release show more meaningful progress in a recently stagnant bloc?

In the UK, March’s composite reading came in at 52.5, missing expectations of 53.2 but still showing expansion, largely driven by the tech and financial sectors. The question now: can broader service providers help lift the outlook, or will muted order books persist in an uncertain economic climate?

Despite a relatively quiet period for the economic calendar, earnings season is gaining momentum. With trade tensions rising between the US and China, dampening market sentiment, investors will be closely monitoring earnings reports for any commentary on the potential impact of a trade war. In the tech sector, Tesla, Alphabet (Google’s parent company), and Microsoft are likely to be in focus. Meanwhile, Procter & Gamble could provide valuable insight into the consumer staples sector.

Kind regards.

PrimeVest FX & Equities Insight

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