Market News
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United States NAHB Housing Market Index came in at 34, below expectations (35) in July
United States NAHB Housing Market Index came in at 34, below expectations (35) in July
United States Pending Home Sales (MoM) registered at -5.4%, below expectations (-0.5%) in June
United States Pending Home Sales (MoM) registered at -5.4%, below expectations (-0.5%) in June
British Pound: UK GDP resilience with Q2 risks – TD Securities
TD Securities reports United Kingdom (UK) Gross Domestic Product (GDP) grew 0.1% month-on-month in May, matching their forecast and beating the market’s flat expectation. Three‑month growth remains strong at 0.7%, with services and manufacturing outperforming.
Euro pauses a two-day winning streak as the US Dollar steadies
EUR/USD trades with a downside bias on Thursday, snapping a two-day winning streak as the US Dollar (USD) steadies following recent losses driven by softer-than-expected United States (US) inflation data. At the time of writing, the pair trades around 1.1457, down modestly on the day.
Canadian Dollar extends gains over US Dollar as BoC stance limits further upside
USD/CAD trades around 1.4010 at the time of writing on Thursday, down 0.21% on the day as the Canadian Dollar (CAD) extends its gains against the US Dollar (USD).
Bank of Korea: Back-to-back hike risk stays live – Societe Generale
Societe Generale’s Kiyong Seong reviews the Bank of Korea’s 25bp hike to 2.75%, noting a unanimously hawkish Monetary Policy Committee. The July statement is assessed as more hawkish than May, and Governor Shin’s comments keep the option of a consecutive hike at the 27 August meeting open.
Equities: Trade tensions and value challenge – BNY
“BNY’s Geoff Yu says tougher Western action against Chinese automakers could add pressure on Europe’s legacy manufacturers.
Russia Central Bank Reserves $ climbed from previous $721.7B to $722.4B
Russia Central Bank Reserves $ climbed from previous $721.7B to $722.4B
Natural gas: Storage challenge grows on LNG competition – ING
ING’s Warren Patterson and Ewa Manthey highlight that investment funds have sharply increased net long positions in TTF natural gas, driven by fresh longs.
British Pound: Fiscal tightrope shapes outlook – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong highlight that hopes of a fiscally conservative Chancellor under incoming United Kingdom (UK) Prime Minister Burnham have supported the British Pound (GBP) and gilts.
British Pound eases against Yen after hitting highest level since 2007
GBP/JPY trades with a mild negative bias on Thursday, taking a breather after climbing to its highest level since December 2007 the previous day, as the British Pound benefited from easing political uncertainty and expectations of greater fiscal discipline.
US Initial Jobless Claims dropped to 208K last week
According to a report from the US Department of Labor (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance shrank to 208K for the week ending July 11.
United States Retail Sales rise 0.2% in June to $768.6 billion
Retail Sales in the United States (US) rose by 0.2% on a monthly basis in June to $768.6 billion, the US Census Bureau reported on Thursday. This print followed the 1% increase recorded in May and came in line with the market expectation. On a yearly basis, Retail Sales were up 6.7%.