Romania’s construction sector found some stability in 2025 after last year’s slump but faces cloudy prospects amid weak ...

The UK Budget announcement (12.30 GMT) will see markets weigh both fiscal and inflationary implications. Sterling faces moderate downside risks in a non-inflationary, fiscally tight scenario, and ...

At time of writing, Gilt yields are currently off around 4-5bp across the curve from their pre-OBR leak levels and EUR/GBP is off around 0.4%. At above 1.32, GBP/USD is back to levels seen in late ...

So, despite all the warning signs around a spread-out supply chain seen in recent years, there is still very limited evidence ...

The UK government's budget announcement will need to show fiscal discipline to satisfy gilt investors, and while our baseline ...

Industrial metals extended gains in yesterday’s trading, with LME copper approaching the $11,000/t level amid a weakening US ...

The US Treasury’s semi-annual Report on Foreign Exchange Policies of Major Trading Partners (the “FX Report”) is expected to ...

The US is spending more than 5 times as much as Europe on data centre construction. China is spending more than 3 times as much. And that means Europe risks losing out in the battle for AI supremacy.

This gives us confidence that annual GDP growth in 4Q25 is likely to exceed the 3.7% YoY reported in 3Q25. In 2025, we still ...

How do you spell stagnation? G-E-R-M-A-N-Y. In the past three years, the German economy has recorded only two quarters of positive growth. On average, the economy has shrunk by 0.1% quarter-on-quarter ...

Intuitively, a deal with Russia would help euro rates higher, but falling gas futures are already pushing down the curve through lower inflation expectations. Tensions with Russia are likely to stay, ...

As discussed in our RBNZ preview, we expect a 25bp rate cut tonight in New Zealand (announcement at 0300 AM CET). That would take rates to 2.25%, which we believe is the terminal rate, as disinflation ...