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The United Kingdom’s (UK) ILO Unemployment Rate remained steady at 4.9% in the three months to May after reporting 4.9% in the previous reading, data published by the Office for National Statistics (ONS) showed on Tuesday. The data came in below the market consensus of 5.0%.

Canada’s inflation has cooled a tad in June, with the Consumer Price Index (CPI) rising 2.8% from a year earlier, coming in below market expectations and down from the 3.2% increase recorded in May. On a monthly basis, prices declined by 0.4%.

USD/IDR gains ground after two days of losses, trading around 18,100 during the Asian hours on Thursday. The pair holds ground as the Indonesian Rupiah (IDR) faces downward pressure as surging oil import costs stretch the nation's trade balance and stoke inflation.

The June Consumer Price Index (CPI) fell 0.4% on the month against consensus for a 0.1% decline, following May's 0.5% increase, and the annual rate dropped to 3.5% from 4.2%, well under the 3.8% forecast. Core prices were flat MoM and eased to 2.6% YoY versus 2.8% expected.

The consumer price index in June was expected to increase 3.8% from a year ago.

Inflation has risen for the eighth straight month in India, as food and energy prices rise due to the Iran war and deficient rainfall.

Our summary of recent economic events and what to expect in the weeks ahead. Canadian Highlights The July 1st CUSMA extension deadline came and went, but this outcome was well telegraphed and the status quo, in terms of U.S. tariffs on Canada, remains. Canada’s economy popped in April and likely grew again in May. This […] The post The Weekly Bottom Line: GDP Fireworks Ahead of Canada Day appeared first on ActionForex.

Markets are anticipating a fairly stable report when Statistics Canada releases its Labour Force Survey on Friday. While the Net Change in Employment is predicted to rise by 10K in June, adding to the 87.8K gain in May, the Unemployment Rate is forecast to stay at 6.6%.

A drop in the unemployment rate helped provide some upside to what was an otherwise downbeat jobs report - but it was for all the wrong reasons.

According to a report from the US Department of Labour (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance shrank to 215K for the week ending July 4.

Nonfarm payrolls were expected to rise by 115,000 in June while the unemployment rate held steady at 4.3%.

While speaking at a Banco de España conference in Santander, Spain, San Francisco Federal Reserve President Mary Daly said that she doesn't see any signs of a lack of economic resiliency in the US, despite above-target inflation, per Reuters.