World economy

oil

OPEC+ t increase oil production by 137,000 bpd from November onwards

Link Securities | The Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, agreed to a modest increase in production, easing market fears of a larger rebound. On Sunday, the oil-producing alliance agreed to increase its production by 137,000 barrels per day (bpd) in November, matching October’s increase, with markets viewing the move as cautious amid persistent concerns about potential oversupply. OPEC+ described its latest move as…


US labor market

US Economy Sheds 32,000 Net Private Jobs in September

According to payroll processor ADP, the U.S. economy shed 32,000 net private jobs in September. This figure compares very negatively with the 50,000 new net jobs forecast by FactSet consensus analysts. Furthermore, ADP reported a downward revision to its August job creation figures; the data now points to a loss of 3,000 net private jobs, compared to the 54,000 net jobs initially reported. The surprising reversal of the projected growth…


ocde 2

OECD countries’ year-on-year inflation rate at 4.1% in July, down 1/10 pp from June

Alphavalue / Divacons | The year-on-year inflation rate for the Organisation for Economic Co-operation and Development stood at 4.1% in July, representing a decrease of one tenth of a percentage point compared to June. Since March 2025, inflation in the group has ranged between 4% and 4.2%. According to the think tank, headline inflation rose in ten member countries, while 12 recorded declines, with falls of more than 0.5 percentage…


EEUU agricultura

US agricultural exports to China fall by over 50% year-on-year in first half of year

Norbolsa | The Chinese ambassador in Washington warned that US protectionism is weakening agricultural cooperation between the two countries and that farmers should not bear the cost of the trade war. In a speech at a soybean industry event, he noted that US agricultural exports to China fell by more than 50% in the first half of 2025, amid cross-tariffs imposed under the Trump administration. He stressed that agriculture, a…


reino unido libra

UK inflation remains high due to pressure from services, complicating BoE’s position

Bankinter | CPI (July): 3.8% year-on-year versus 3.7% expected and 3.6% previously. Underlying: 3.8% versus 3.7% expected and previously. Bankinter analysis team’s view: Inflation remains high, pressured by services (+ 5.0% versus 4.8% expected and 4.7% previously) and complicates the BoE’s position, which faces a cooling economy and labour market in an environment of high prices. Inflationary pressures have increased in recent months, reaching 3.8% in July versus 2.6% in…


china exportaciones

Trump signs executive order to extend trade truce with China for another 90 days

Link Securities | US President Donald Trump signed an executive order to extend the trade tariff truce with China for another 90 days, as confirmed by Trump himself and the Chinese Ministry of Commerce. With the latest round of negotiations set to expire early Tuesday morning, this pushes the deadline to mid-November, providing crucial relief for seasonal import increases ahead of Christmas. The US will maintain 30% tariffs on Chinese…


china yuan mirada

Prices in China remain positive for second consecutive month

Bankinter | CPI (July): +0.0% year-on-year versus -0.1% expected versus +0.1% previously. Bankinter analysis team’s view: prices remain positive for the second consecutive month. The underlying rate reached +0.8% compared to +0.7% previously. It seems that the government measures to moderate excessive competition in some sectors are beginning to have some effect, despite the fact that industrial prices continue to exert downward pressure (-3.6% year-on-year in July compared to -3.3%…


gold precious

US imposes tariffs on imports of one-kilogram gold bars

Link Securities | The United States has imposed tariffs on imports of one-kilogram gold bars, a move that threatens to disrupt the global bullion market and deal a further blow to Switzerland, the world’s largest precious metals refining centre, according to Expansión. The Customs and Border Protection (CBP) agency stated that one-kilogram and 100-ounce gold bars should be classified under a customs code subject to duties, according to a letter…


china exportaciones

China’s July trade balance shows larger-than-expected slowdown in surplus

Link Securities | Dollar-denominated exports rose 7.2% year-on-year in China in July, beating the Reuters consensus of 5.4% and following 5.8% growth in June. Bloomberg highlighted that the resilience of Chinese exports came despite US tariffs, indicating strong global demand and exports remaining a key factor in the economy. Imports rose 4.1% year-on-year in July, contrasting with the expected 1.0% decline and accelerating growth from 1.1% in June. Imports, growing…


oil barrels

OPEC+ agrees to increase production by 547,000 b/d in September and ends restoration of 2.2 Mb/d withdrawn from market in 2023

Bankinter | OPEC+ agreed to increase production in September by 547,000 b/d. This is the sixth consecutive monthly increase. With this move, it completes the restoration of 2.2 Mbd that it withdrew from the market in 2023. OPEC justifies its decision on the basis of the stability of the global economic outlook and the solid fundamentals of the market (low inventory levels). As a reference, OPEC+ (which includes other countries…