WSJ: "Europe draws up retaliatory tariffs for U.S. goods in case no trade deal is...In Summary from the Wall Street Journal (gated):The European Union has completed a second list of potential counter-tariffs on U.S. goods valued at €72 billion (US$84 billion), amid rising trade tensions. The list, drafted by the European Commission, targets items ...
Australian July consumer confidence +0.6% m/m to 93.1Australia July Westpac-Melbourne Institute Consumer Confidence 93.1up from June's 92.6WPAC comments, in summary:optimism remained muted after the Reserve Bank unexpectedly held interest rates steady at 3.85%sentiment was stronger before the RBA decision but dipped afterward, reflecting lingering cautionviews on family ...
Reuters - Japan election jitters rattle bond market as investors brace for fiscal shiftJapanese government bond (JGB) investors are on edge ahead of this weekend’s upper house elections, fearing a political shake-up that could accelerate fiscal spending and drive super-long bond yields higher.Reuters with the piece, in brief:Prime Minister Shigeru Ishiba’s declining approval ...
Japan and EU to strengthen economic ties with focus on trade, tech and supply chainsJapan and the European Union plan to issue a joint statement aimed at deepening their economic partnership, with a particular focus on trade, advanced technology, and greater supply chain coordination, the Yomiuri newspaper reported. The move comes as both sides ...
UK retail sales rebound in June "on hot weather", but consumer caution lingersUK retail sales rose sharply in June, driven by warmer weather and seasonal demand, according to the British Retail Consortium (BRC): Total sales climbed 3.1% year-on-year, up from 1.0% in Maywhile like-for-like sales rose 2.7% (+0.6% in May).The BRC credited ...
UBS sees Trump doing a TACO on 30% EU tariffs, recommend buy gold as a...UBS Wealth Management on the latest tariffs threat from Trump:Sees White House tariff escalation as a negotiation tactic; expects eventual de-escalation.Base case: U.S. effective tariff rate to settle near 15%, allowing S&P 500 to keep rising.Believes a U.S.-EU trade deal ...
People's Bank of China to dump 1.4 tln yuan cash in banking system today. 3,...The People's Bank of China, China’s central bank, announced it will carry out 1.4 trillion yuan (US$195 billion) in reverse repurchase agreements on Tuesday. The Bank said the move is intended to ensure liquidity in the banking system remains “reasonably ample.” ...
Goldman Sachs forecasts gold reaching US$4,000Goldman Sachs sees gold reaching US$4,000 by mid-2026expects gold to climb to US$3,700 per ounce by the end of 2025 Goldman Sachs highlights the following drivers:Central banks and institutions bought an average of 77 tonnes of gold per month between January ...
Bank of America say Trump's latest tariff hikes firm the Fed 'no rate cut this...President Trump’s sweeping new tariffs on imports from the European Union and Mexico could reduce the likelihood of Federal Reserve interest rate cuts this year, according to Bank of America.The president’s latest move, proposing 30% tariffs on EU and Mexican ...
NASDAQ closes at a new record highThe major stock indices are closing higher led by the NASDAQ index and the small cap Russell index. The final numbers are showing:Dow industrial average +88.14 points or 0.20% at 44459.65.S&P index up 8.81 points or 0.14% at 6268.56.NASDAQ index ...
Crude oil futures settle at $66.98The price of crude oil futures is settling the day at $66.98. That's down $1.47 or -2.15%. The price last week traded above and below its 200 day moving average on four of the five trading days, but it was ...
AUDUSD under pressure as key support levels come into viewAfter last week’s rally in the AUDUSD stalled at an old upward sloping trend line resistance, the pair has come under renewed selling pressure to start the week.Today’s price action is reinforcing the bearish shift, with the pair moving further ...
BOEs Bailey: Uncertainty continues to weigh on growth expectationsBOE's Bailey ins a letter to G20 finance ministers and central bank governors:Since April, market conditions have improved and asset prices have recoveredWe have seen further economic and geopolitical risks crystallize and global debt vulnerabilities remain high.Uncertainty continues to weigh ...
Yes... It is time for US quarterly earningsYes... It is time for earnings again. The big banks and financial institutions will kick-off the earnings for the current quarter along with 20% of the Dow 30 scheduled to report (which is six stocks marked by * in the ...
USDJPY steps to a new high. Looking toward the June high near 148.00The USDJPY is stretching to the upside. The pair has been weakening after the Pres Trump imposed tariffs on Japan goods including:Broad 25% tariff on all imports from Japan (effective August 1) In addition, they have:25% tariff on automobiles and ...
Trump: NATO deal is fully approved and fully doneTrump:NATO deal is fully approved; fully doneGoing to deliver those weapons immediately two sites of warTreasury Secretary Bessent goes on TV and calms the markets (HMMM is he the next Fed Chair?)Polymarket latest odds for a new chair (or not) ...
A mix day for European indicesIt was a mixed day for European indices. The UK FTSE 100 close at a new record level. German's DAX and France's CAC both fell. The final numbers are showing:German DAX -0.36%France's CAC, -0.27%UK's FTSE 100 close up 0.64% at ...
Reuters source: ECB to discuss more negative scenario next weekAccording to Reuters sources: ECB to discuss a more negative scenario next week then previously envisioned in June after latest Trump tariff threat Still seen holding rates at July 24 meeting on eight threat alone.Any ECB rate cut discussion remains ...
Meta: Company is going to invest $100sB in compute for super intelligenceMeta CEO Zuckerberg:Meta is going to invest hundreds of billions of dollars in to compute to build super intelligence.Has the capital from their business to do the investment.Focused on building the most elite and talent dense team in the industry.Also ...
UK's FTSE 100 reaches a new intraday recordThe UK FTSE 100 has extended to a new intraday high of 8984.98. That surpassed the high price from Friday at 8918.49. The index is up around 40 points or 0.42% on the day.In March, the high price extended to ...
USDCAD stuck in a range after tariff-driven spike fizzlesThe USDCAD surged briefly on early Friday following President Trump’s formal letter to Canadian Prime Minister Mark Carney, announcing a 35% tariff on Canadian imports effective August 1. The move cited national security concerns over fentanyl smuggling and a persistent ...
EU's Sefcovic on trade talks: It takes two hands to clapThe EU was hit with a 30% tariff effective August 1 over the weekend. EU's trade chief Sefcovic on the trade talks with the US does not sound all that optimistic saying:It takes two hands to clap.Plan to ...
USDCHF stalls near resistance, holds above key supportThe USDCHF moved up in the early part of the trading day, testing the swing area between 0.7986 and 0.7994, but once again found sellers (see red numbered circles). The high today reached 0.7984, just shy of the top of ...
Fed's Hammack: I see an economy that's really healthy.Fed's Beth Hammack (2026 voter) on FOXBusiness: I see an economy that's really healthy inflation has made progress to Feds target but is still too highwe are not there yet on inflation, important to stay restrictive on monetary policy.Fed officials ...
PBOC deputy governor says will continue to implement appropriately loose monetary policyWill support efforts to help achieve full-year economic growth targetTo better use various structural tools to support key sectorsWill improve market-based interest rate regimeTo keep liquidity conditions ampleJust some token remarks by Zou as he mainly reaffirms the Chinese central ...
Bank of Japan reported likely to consider increasing its inflation forecastBank of Japan reported likely to consider increasing its inflation forecast for fiscal year at its next meeting.The next meeting is at the end of this month.Likely to roughly maintain CPI forecasts for FY 2026 and 2027Financial media reports cite ...
Singapore data - Preliminary Q2 GDP +1.4% q/q and +4.3% y/ySingapore Gross Domestic Product Q2 2025, preliminary+1.4% q/qexpected +0.7%, prior -0.5%+4.3% y/yexpected +3.5%, prior +3.9%more to come Singapore's economy grew faster than expected in Q2 according the trade ministry GDP data. avoiding a recession after the first quarter's revised 0.5% contractionSGD pop: ...
Where are Sovereign Wealth Funds and Central Banks shifting funds to? China, USDVia Reuters on Invesco Report: Key Trends Among Sovereign Wealth Funds and Central Banks.I trimmed it back to the main info. Active Management Rising: Large sovereign wealth funds are shifting from passive to active strategies due to market unpredictability.China Exposure ...
Deutsche Bank warns that markets are underestimating the risk of Trump firing PowellBloomberg with the report from Deutsche Bank strategist George Saravelos, warning that financial markets are downplaying the risk of Trump removing Federal Reserve Chair Jerome Powell — a move that could significantly shake markets. Bloomberg is gated, but in brief:DB ...
Where is this talk of Powell resigning coming from?This is strange statement as it indicates there are 'reports' that Powell is considering resigning. But there are no reports that I can find. Bizarrely, Pulte has been tweeting forever that Powell should resign and also foreshadowed this statement, even ...
Crude oil futures close at $68.45Crude oil futures settled at $68.45, up $1.88 or 2.82% on the day. For the week, prices gained $2.13, marking a 3.2% increase. These gains come despite an unexpected rise in OPEC+ production of 548K barrels heading into the week. ...
Fed's Goolsbee: Latest tariff threat could delay rate cutsIf we get a few more months of excellent inflation reports, that would persuade me we're still on golden pathWant to wait until the anxiety dies down before comfortable that US is back on track to a soft landingIf we're ...
EURUSD trapped between swing area support and moving average resistanceThe EURUSD continues to find solid support in the 1.1663 to 1.1691 zone, a key technical floor that dates back to April–November 2021. The pair has repeatedly tested this area this week, with buyers stepping in on each dip, reinforcing ...
USDCAD retraces all the declines on jobs.The USDCAD spiked higher on the tariff news at the start of the day (see the spike higher on the 5-minute chart above). However, the USDCAD moved lower following stronger-than-expected Canadian jobs data. Buyers stepped in at earlier ...
USDCHF tests key moving averages as sellers lean against 0.8000 resistanceThe USDCHF continues to struggle with upside momentum, as the pair remains capped below the 0.8000 level, a key ceiling that has held since June 30. This week, buyers once again tested the swing area between 0.7986 and 0.7994, but ...
GBPUSD moved down to swing area on the weekly chart.The GBPUSD has been steadily moving lower in today’s trading. The decline has been fueled by weaker UK economic data and a broader wave of US dollar strength, as markets respond to the inflationary implications of higher U.S. tariffs. Additionally, ...
USDCAD moves lower after better employment data. What next?The USDCAD moved lower after the stronger-than-expected Canadian jobs data:Canada’s June employment report showed stronger-than-expected job growth, with total employment rising by 83.1K, well above the 0.0K expected and the prior month’s 8.8K gain. The increase was driven primarily by ...
The USD moves higher as Trump tariff inflation risk increasesThe USD is higher to start the US session vs the EUR, JPY and GBP. The EURUSD has seen down and up price action, erasing most of the declines to start the US session. The GBPUSD is down by about ...
ECB's Schnabel: The threshold for another rate cut is very highNo risk of sustained inflation undershootConcern about impact of euro strength on prices is exaggeratedEconomy is resilient, growth outlook risks are balancedPolicy is in a good placeThis just reaffirms that the central bank is looking to pause on rate cuts ...
Gold Technical Analysis – The focus turns to the US CPIFundamental OverviewGold remains rangebound as the focus turns to the US CPI report due next Tuesday. The NFP put a lid on further gains as the hawkish repricing in interest rates expectations weighed on the precious metal. A soft CPI should give gold ...
PBOC adviser calls for USD209bn in China stimulusA Chinese central bank adviser and other experts are recommending that China implement a massive $209 billion stimulus package over the next year to combat economic challenges from US tariffs. They argue China's economy is under strain from deflation, a ...
ECB Board member Piero Cipollone speaking Friday, not on monetary policyEuropean Central Bank Board member Piero Cipollone is speaking at 0730 US Eastern time/ 1130 GMT:on a panel at the Ukraine Recovery Conferencetopic ' Integration of the Ukrainian Financial Sector into the European Internal Market'Seems very unlikely to include his thought on the economy or ...
HSBC says the ECB could shy away from rate cuts even if the euro keeps...HSBC economists say that the European Central Bank is likely to proceed cautiously with further rate cuts, even though the euro’s recent strength could push inflation below the ECB’s 2% target, citing:due to the delayed effects of monetary policy, the ...