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Qatar launches mediation effort with Iran to ease tensions over Strait of Hormuz
Qatar has dispatched negotiators to Iran for meetings with Iranian officials in a renewed diplomatic effort to de-escalate tensions and create conditions for broader negotiations to continue, according to a Reuters report citing a source familiar with the matter.
WTI price holds near $72 amid hopes of US-Iran de-escalation
West Texas Intermediate (WTI) Oil trades around $72 at the time of writing on Friday, up 0.42% on the day, but remains in a consolidation phase after reaching a more than two-week high earlier this week.
New Zealand Dollar: Constructive outlook faces yield constraints – OCBC
OCBC strategists Christopher Wong and Sim Moh Siong note that the New Zealand Dollar (NZD) outperformed after stronger manufacturing data and hawkish Reserve Bank of New Zealand (RBNZ) commentary reinforced expectations for further tightening.
Canada: Stable card trends support cautious optimism – RBC
Royal Bank of Canada (RBC) analysts Abbey Xu and Rachel Battaglia report that June spending by RBC Canadian cardholders remained relatively stable, with core retail sales up modestly. Discretionary goods led gains, while essential spending including gasoline also contributed.
GBP/JPY Price Forecast: Bulls remain in control with RSI and MACD in positive territory
GBP/JPY trades under pressure on Friday after comments from Japan's Finance Minister Satsuki Katayama boosted the Japanese Yen (JPY). At the time of writing, the cross is trading around 217.10, down 0.30% on the day.
Equities: AI Boom risks and resilience – Commerzbank
Commerzbank economists Dr. Jörg Krämer and Bernd Weidensteiner argue that the AI-driven investment surge in US high-tech and IT is substantial but not yet excessive compared with past booms.
Canada Net Change in Employment came in at 18.2K, above forecasts (10K) in June
Canada Net Change in Employment came in at 18.2K, above forecasts (10K) in June
Canada Unemployment Rate came in at 6.5%, below expectations (6.6%) in June
Canada Unemployment Rate came in at 6.5%, below expectations (6.6%) in June
Canada Building Permits (MoM) climbed from previous -7.6% to -1.7% in May
Canada Building Permits (MoM) climbed from previous -7.6% to -1.7% in May
Canada Participation Rate remains unchanged at 65% in June
Canada Participation Rate remains unchanged at 65% in June
United States: New methodology trims Core PCE inflation – Wells Fargo
Wells Fargo economists Tom Porcelli and Sarah House discuss upcoming BEA changes to the Personal Consumption Expenditures (PCE) Price Index that will affect data from 2021 onward.
Brazil IPCA Inflation registered at 0.16%, below expectations (0.31%) in June
Brazil IPCA Inflation registered at 0.16%, below expectations (0.31%) in June
Mexico Industrial Output (YoY) came in at -0.7%, below expectations (-0.1%) in May
Mexico Industrial Output (YoY) came in at -0.7%, below expectations (-0.1%) in May