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Natural gas: Storage worries with TTF higher – ING
ING’s Warren Patterson and Ewa Manthey highlight that European gas prices have firmed, with TTF above EUR 60/MWh, even as positioning data show funds trimming net longs.
One stock wrote the Dow Jones Industrial Average's entire session
The Dow Jones Industrial Average trades near 53,700 on Thursday, roughly 75 points and a tenth of a percent lower, on a morning when the S&P 500 prints a fresh record intraday high and the Nasdaq Composite runs close to a percent higher.
New Zealand Dollar struggles as softer inflation expectations challenge RBNZ hawks
NZD/USD trades around 0.5850 on Thursday at the time of writing, down 0.15% on the day.
Japanese Yen struggles despite soft US PPI, fading Fed rate-hike bets
The Japanese Yen (JPY) struggles to gain traction against the US Dollar (USD) on Thursday, even as the Greenback weakens modestly following softer-than-expected US Producer Price Index (PPI) data. The Yen strengthened immediately after the release, briefly pushing USD/JPY toward 159.
British Pound climbs as soft US inflation data hurt Fed hawkish bets
The Pound Sterling (GBP) registers modest gains versus the Greenback on Thursday as US inflation data in the producer side came in below or in line with estimates, showing that the disinflation process continues. At the time of writing, the GBP/USD pair trades at 1.3503, up 0.06%.
Carry Trade: Supportive backdrop holds – OCBC
OCBC’s Sim Moh Siong and Christopher Wong note that in-line United States (US) inflation and a modestly lower probability of a September Federal Reserve (Fed) hike have left the US Dollar (USD) broadly range-bound while risk assets continue to rally.
United States 4-Week Bill Auction down to 3.625% from previous 3.64%
United States 4-Week Bill Auction down to 3.625% from previous 3.64%
United Kingdom: Upside GDP surprise, limited BoE impact – TD Securities
TD Securities reports that United Kingdom (UK) Gross Domestic Product (GDP) for June surprised to the upside at 0.3% m/m, driven by a strong services sector expanding 0.4% m/m. May was revised to flat, leaving June as the only positive month in Q2.
Poland: Fuel-driven inflation rise contained – ING
ING’s Adam Antoniak explains that Poland’s July CPI rose mainly due to higher fuel prices after VAT normalization, removal of the fuel cap and increased Oil costs following the US–Iran MoU collapse.
India: Inflation path higher into FY27 – Standard Chartered
Standard Chartered strategists have raised its FY27 Consumer Price Index (CPI) inflation forecast to 4.9% from 4.5%, citing higher food and retail fuel prices. They now expect broader price pressures, excluding Gold and Silver, with food and beverage CPI seen at 6.3%.
United States: Equities favored over Treasuries – BNY
Geoff Yu at BNY argues that the loss of some U.S. exceptionalism has not translated into a broad exodus from U.S. assets. Cross-border investors maintain high U.S. equity allocations, supported by technology and AI themes, while trimming Treasury holdings as curve steepening raises duration risk.
Canadian Dollar steadies as falling Oil offsets US Dollar weakness
USD/CAD trades around 1.3940 on Thursday at the time of writing, virtually unchanged on the day. The pair remains caught between two opposing forces: the US Dollar (USD) weakens following softer-than-expected US data, while the Canadian Dollar (CAD) struggles amid falling Oil prices.
United Kingdom: Softer second-half growth expected – Societe Generale
Societe Generale’s Sam Cartwright notes United Kingdom (UK) Gross Domestic Product (GDP) rose 0.4% qoq in 2Q26, driven mainly by business investment and resilient consumer spending.