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cover of episode UK and Japan Economic Woes, Rising Iran-Israel Tensions: PALvatar Market Recap, June 12 2025

UK and Japan Economic Woes, Rising Iran-Israel Tensions: PALvatar Market Recap, June 12 2025

2025/6/12
logo of podcast Real Vision: Finance & Investing

Real Vision: Finance & Investing

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OK, spare a moment for the UK's Chancellor, who will need a pick-me-up from Greggs after rather dismal GDP figures this morning. The British economy contracted by 0.3% in April, primarily driven by a 0.6% decline in industrial production. The contraction is worse than expected and the biggest since late 2023. Chancellor Rachel Reeves called the figures disappointing and blamed the tariff uncertainty. Cue more clamour for interest rate cuts.

The UK can shake hands with Japan, where business sentiment among large manufacturers deteriorated significantly in Q2, dropping to minus 4.8%. That was below market forecasts that anticipated a rebound. The decline reflects ongoing struggles within Japan's export-driven economy amid new trade barriers imposed by the US, adding pressure on monetary policy ahead of a Bank of Japan meeting next week.

Geopolitical tensions are also heavily influencing markets. There are growing concerns regarding potential military actions between Israel and Iran, sending investors towards safe haven assets like gold, Japanese yen and Swiss franc. The dollar is not far from a three-year low it hit in April, and oil prices surged as much as 4% before moderating. That's it for today. Bit of a wait-and-see situation as markets take a breather from a relentless rally.

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