Market Pulse - Currencies
Americans' medium-to-long term inflation expectations retreat in July, U.Michigan says
American consumers were a tad more confident at the start of July, thanks to the recent drop in petrol prices, they results of a very closely-followed survey revealed.
US small business confidence near lowest level in almost a decade
A closely-followed gauge of small businesses' optimism in the US plumbed its lowest level since January 2013 in June, dragged lower by a fall in expectations for short-term business conditions and sales.
Yellen says Forex intervention only warranted in 'rare circumstances' - WSJ
The head of the US Treasury Department showed reluctance to intervene in foreign exchange markets in support of the yen.
ECB's Holzmann argues for 125bp of ECB hikes by September
The head of Austria's central bank argued in favour of a faster pace of monetary policy tightening should the outlook for inflation not improve.
Chinese producer price inflation eases in June, but CPI gains accelerate
Factory gate inflation in the People's Republic of China cooled last month, but continued accelerating at the consumer level.
US non-farm payrolls growth slows to 372,000 in June
US non-farm payrolls growth slowed to 372,000 during the month of June. , although some economists noted that an alternate measure of labour demand contained within the same report came in much softer.
Too soon to position aggressively for interest rate cuts, BofA says
Strategists at BofA Securities highlighted the recent "big rotation" into technology issues, those of the biotechnology sector in particular.
BofA thinks euro-dollar parity 'likely', recommends US investors hedge
Foreign exchange strategists at Bank of America Securities thought euro at parity against the US dollar was "likely".
Berenberg downgrades Rio Tinto to 'sell', expects downside surprise in 1H results
Analysts at Berenberg downgraded their rating on shares of Rio Tinto from 'hold' to 'sell', telling clients that they believed there was more downside in the shares.
US trade deficit narrows a tad less than expected in May despite jump in exports
America's shortfall on trade with the rest of the world narrowed a tad less than expected last month despite a jump in exports.
US secondary weekly jobless claims rise slightly
US unemployment claims moved slightly higher during the preceding week.
US services sector acitivity slows less than expected in June, ISM says
Activity in America's services sector slowed by less than expected last month, the results of a key survey revealed.
'Technically speaking' it's highly unlikely US is already in a recession, BofA says
It was "highly unlikely", technically speaking, that the US economy was in a recession, Bank of America Securities said, although there were some caveats.
Euro area retail sales miss forecasts in May
Retail sales volumes in the single-currency bloc undershot economists' forecasts in May.
Fears of Europe energy shock could weigh on euro
The European single currency may remain weak in the near-term due to concerns about soaring energy prices in Europe.
European natural gas prices spike as Equinor workers strike
European natural gas prices were on the rise again after workers at Norway's Equinor initiated a strike action overnight.
Berenberg still in 'sell the rally mode', recommends stagflation hedge strategy
Equity strategists at Berenberg recommended investors stick with a stagflation hedge strategy.
Biden administration said to be mulling partial roll back of US trade tariffs on China
The Biden administration is expected to announce a partial roll back of US trade tariffs on Chinese goods exports as soon as this week.
Bundesbank chief warns against using ECB's tools to contain wider spreads
The head of Germany's central bank urged caution on using policy tools to limit the borrowing costs of weaker economies within the single-currency bloc.
JP Morgan stays overweight on Glencore, sees China macro alignment for 2H 2022 outperformance
Analysts at JP Morgan sounded a bullish note on the outlook for European Middle East and Africa miners in the back half of 2022.