News

United Kingdom: Market-friendly chancellor prospects – TD Securities

TD Securities’ James Rossiter discusses UK political developments and their market implications, focusing on the race for the next Chancellor under expected Prime Minister Burnham.

Source  Fxstreet1784120365
United States annual producer inflation drops to 5.5% in June vs. 6.2% expected

Producer inflation in the United States, as measured by the change in the Producer Price Index (PPI), declined to 5.5% on a yearly basis in June from 6% in May, the US Bureau of Labor Statistics (BLS) reported on Wednesday. This reading came in below the market expectation of 6.2%.

Source  Fxstreet1784119277
China: Growth outlook steady with policy support – Standard Chartered

Standard Chartered economists Hunter Chan and Shuang Ding note that China’s Q2 Gross Domestic Product (GDP) growth slowed to 4.3% year-on-year, below the 4.5–5.0% target range, with domestic demand remaining soft.

Source  Fxstreet1784119263

United States Producer Price Index ex Food & Energy (MoM) below forecasts (0.4%) in June: Actual (0.2%)

Source  Fxstreet1784118605

Canada Wholesale Sales (MoM) above forecasts (-0.7%) in May: Actual (0%)

Source  Fxstreet1784118605

United States Producer Price Index (MoM) below expectations (0%) in June: Actual (-0.3%)

Source  Fxstreet1784118605

United States Producer Price Index ex Food & Energy (YoY) below forecasts (5.2%) in June: Actual (4.7%)

Source  Fxstreet1784118605

United States Producer Price Index (YoY) registered at 5.5%, below expectations (6.2%) in June

Source  Fxstreet1784118605

United States NY Empire State Manufacturing Index came in at 15.6, above expectations (8.8) in July

Source  Fxstreet1784118601
Norwegian Krone: Softer inflation but Norges Bank still hawkish – BBH

Brown Brothers Harriman’s (BBH) Elias Haddad highlights broad Norwegian Krone (NOK) underperformance after Norway’s underlying inflation dropped to an 18‑month low, below Norges Bank and consensus projections.

Source  Fxstreet1784117461

United States MBA Mortgage Applications dipped from previous -2.2% to -2.7% in July 10

Source  Fxstreet1784113201
BoC set to keep interest rates steady for sixth consecutive meeting

The Bank of Canada (BoC) is widely expected to keep its policy rate unchanged at 2.25% on Wednesday. This would be the sixth consecutive event with the central bank keeping its hand steady.

Source  Fxstreet1784108700
United States: Cool CPI provides temporary relief for rates – DBS

DBS Group Research economist Samuel Tse and Senior Rates Strategist Eugene Leow analyse USD rates after softer June CPI data. They note the US Treasuries curve bull steepened as headline and core CPI surprised to the downside, with energy and some core services prices falling.

Source  Fxstreet1784107947
CEE FX: US inflation relief supports koruna and forint – ING

Frantisek Taborsky at ING says lower US inflation and reduced Fed hike expectations bring relief to CEE FX, despite higher Oil and US–Iran tensions. He maintains a bullish view on the Czech koruna and Hungarian forint, expecting more gains in coming days.

Source  Fxstreet1784106738
ECB’s Panetta: Inflation to hover around 3% and remain above that level until early 2027

European Central Bank (ECB) policymaker and Governor of the Bank of Italy, Fabio Panetta, warned in the European trading session on Wednesday that inflationary pressures in the Eurozone economy could hover around 3% and will likely remain above that level beyond this year.

Source  Fxstreet1784106175
Silver: Higher beta rebound with two-way risks – OCBC

OCBC’s Sim Moh Siong and Christopher Wong note that Silver has risen nearly 2%, outperforming Gold’s 1.2% gain on the back of a softer US Dollar (USD) and reduced Fed hike expectations after weak core Consumer Price Index (CPI).

Source  Fxstreet1784103673
ECB's Nagel: It is advisable to act decisively if needed

European Central Bank (ECB) Governing Council Member and President of the Deutsche Bundesbank, Joachim Nagel, said during European trading hours on Wednesday that the central bank should be prepared for monetary policy adjustments if needed.

Source  Fxstreet1784103633
PBoC’s Deputy Governor: To continue to implement appropriately loose monetary policy

People’s Bank of China (PBoC) Deputy Governor said during the European trading session on Wednesday that the central bank remains committed to loose monetary policy conditions to support overall demand.

Source  Fxstreet1784101983
Federal Reserve: Inflation scenarios guide rate path – ABN AMRO

ABN AMRO’s Rogier Quaedvlieg reviews the latest United States (US) Consumer Price Index (CPI) downside surprise and its implications for the Federal Reserve (Fed).

Source  Fxstreet1784101110

China New Loans below expectations (2000B) in June: Actual (1610B)

Source  Fxstreet1784099375
Brent: Stable prices follow short squeeze – Rabobank

Rabobank strategist Michael Every notes Brent Oil holding steady around $85-86 per barrel after an aggressive short squeeze. Every links this stability to ongoing Middle East tensions, United States (US) sanctions enforcement in Hormuz, and strategic efforts to develop alternative pipelines.

Source  Fxstreet1784099089

China M2 Money Supply (YoY) registered at 8%, below expectations (8.5%) in June

Source  Fxstreet1784098874

Spain Harmonized Index of Consumer Prices (YoY) in line with forecasts (3.6%) in June

Source  Fxstreet1784098803

Spain Consumer Price Index (YoY) meets expectations (3.2%) in June

Source  Fxstreet1784098802

Spain Harmonized Index of Consumer Prices (MoM) meets forecasts (0.6%) in June

Source  Fxstreet1784098802

Spain Consumer Price Index (MoM) in line with forecasts (0.6%) in June

Source  Fxstreet1784098801
Equities: CPI-driven gains and tech dispersion – Deutsche Bank

Deutsche Bank strategists note that softer United States (US) Consumer Price Index (CPI), gains in chipmakers and strong bank earnings supported US equities despite sharp weakness in software stocks.

Source  Fxstreet1784096787
Japan's Takaichi: Food inflation has decelerated slightly, but still remains high

Japan’s Prime Minister Sanae Takaichi said on Wednesday that food inflation has decelerated slightly but still remains high. 

Source  Fxstreet1784096686
Chinese Yuan: Appreciation scope seen limited against US Dollar – Commerzbank

Volkmar Baur at Commerzbank highlights that China’s weak domestic economy and reliance on exports constrain upside for the Chinese Yuan. Despite solid export growth and sizeable trade surpluses, investment and real retail sales remain soft.

Source  Fxstreet1784096151
ECB's Kocher: Ready to take monetary policy action at any time if needed

European Central Bank (ECB) Governing Council member Martin Kocher said on Wednesday that the central bank prepared to implement monetary policy measures whenever necessary. 

Source  Fxstreet1784092975
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