EMEA Morning Briefing : Caution Likely as U.S. -2- – Marketscreener.com

G-20 members have rarely been able to agree to such ambitious changes over the past decade of disputes over trade, investment and jobs, although they did work together to offset the economic impact of the Covid-19 pandemic. The tax agreement, negotiated earlier this month by 130 countries, has raised hopes that major economies can find common approaches to tackling other global problems, such as climate change and trade.

Volkswagen Sees Global Chip Shortage Worsening in Second Half

BERLIN-Volkswagen AG warned that the global shortage of semiconductors affecting car production would worsen over the next six months, joining a chorus of auto companies that have dialed down their outlook for the rest of the year.

The warnings mark a shift for the industry after auto CEOs and industry analysts had predicted the chip crisis would bottom out in the second quarter, leading to a gradual improvement over the next six months.

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Expected Major Events for Monday

06:00/ROM: May International trade

06:00/DEN: Jun CPI

06:00/GER: Jun WPI

07:00/TUR: May Employment / Unemployment

07:00/SVK: May Employment and average monthly wage in selected branches

07:00/SVK: May Turnover in selected branches of economy, incl Industry & Construction

08:00/EU: Jun Long term interest rates statistics

09:00/MLT: May International Trade

09:00/CYP: May Foreign Trade (provisional)

10:00/FRA: May OECD Composite Leading Indicators

10:00/POR: Jun CPI

15:59/UKR: Jun CPI

15:59/UKR: Jun PPI

23:01/UK: Jun BRC-KPMG Retail Sales Monitor

All times in GMT. Powered by Kantar Media and Dow Jones.

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This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

07-12-21 0024ET

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