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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
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Sign InAmid shifting global economic dynamics, the UK economy grew by 0.1% in May, bringing the three-month running GDP growth to 0.7% and beating analyst estimates. US markets are now shifting focus to Retail Sales data, projected to grow by 0.2%, alongside Initial Jobless Claims expected at 217K. Traders are also preparing for scheduled speeches from Federal Reserve officials Lorie Logan and Thomas Schmid, which may provide critical clues regarding the future path of interest rates.
The UK's performance follows a robust 0.6% expansion in Q1 according to the Office for National Statistics (ONS), signaling a potential end to the stagnation seen last year. Conversely, per market data, the US housing sector has shown signs of cooling with existing home sales dropping 2.4% as of July 9, 2026. This divergence places a heavier weight on upcoming retail activity to gauge whether US consumer spending can sustain its momentum despite restrictive monetary conditions.
Looking ahead, the release of the Monetary Policy Report remains a high-impact catalyst for dollar-denominated assets. While current instrument prices are unavailable in this snapshot, market participants are closely monitoring labor stability following the 215K jobless claims reported on July 9, 2026. Any significant deviation from the projected 217K in the upcoming release could spark volatility in Treasury yields and broader equity markets.