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Eurozone HCOB Services PMI above expectations (51.6) in July: Actual (51.7)
Eurozone HCOB Services PMI above expectations (51.6) in July: Actual (51.7)
Equities: Global risk rally extends on softer inflation – Deutsche Bank
Deutsche Bank strategists highlight a broad-based rally in global equities as lower Oil prices, easing inflation expectations and resilient US data support risk appetite. The S&P 500 and major European indices hit or approached record highs, while Asian benchmarks also advanced.
Germany HCOB Composite PMI came in at 51.3, above forecasts (51.2) in July
Germany HCOB Composite PMI came in at 51.3, above forecasts (51.2) in July
Germany HCOB Services PMI above expectations (49.6) in July: Actual (49.8)
Germany HCOB Services PMI above expectations (49.6) in July: Actual (49.8)
France HCOB Composite PMI below forecasts (49.6) in July: Actual (49.4)
France HCOB Composite PMI below forecasts (49.6) in July: Actual (49.4)
France HCOB Services PMI below forecasts (49.8) in July: Actual (49.6)
France HCOB Services PMI below forecasts (49.8) in July: Actual (49.6)
Italy HCOB Services PMI above expectations (52) in July: Actual (52.5)
Italy HCOB Services PMI above expectations (52) in July: Actual (52.5)
Brazilian Real: Disinflation and fiscal risks guide weaker outlook – Rabobank
Rabobank’s Brazil weekly notes that the Brazilian Real (BRL) recently appreciated to BRL 5.0587 per Dollar, ranking among the top emerging-market performers.
Spain HCOB Services PMI above forecasts (55.3) in July: Actual (58.3)
Spain HCOB Services PMI above forecasts (55.3) in July: Actual (58.3)
Experts agree: US-Japan intervention to boost Yen won't last long
The British Pound (GBP) claws back its early losses against the Japanese Yen (JPY) and edges higher to near 212.25 during the European trading session on Wednesday.
British Pound: Consolidation with limited upside scope against US Dollar – UOB
United Overseas Bank’s (UOB) Quek Ser Leang and Lee Sue Ann analysts report GBP/USD traded quietly between 1.3423 and 1.3456 after a prior spike to 1.3506. They expect near‑term consolidation in a 1.3425–1.3470 band.
Euro holds gains against the Pound awaiting Eurozone and UK Services PMIs
The Euro (EUR) remains practically flat against the British Pound (GBP) on Wednesday, trading at 0.8573 at the time of writing and holding gains from the last two days after bouncing from the 0.8540 area on Friday.
Japanese Yen: Joint action fails to secure lasting gains – Commerzbank
Commerzbank’s Thu Lan Nguyen argues that the recent historic intervention in USD/JPY, powered by US Treasury participation, may not secure a lasting Japanese Yen (JPY) recovery.