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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
Indian Rupee: Stabilisation but recovery hurdles against US Dollar – OCBC
OCBC strategists Christopher Wong and Sim Moh Siong observe that the Indian Rupee (INR) faced depreciation pressure as Oil and geopolitics resurfaced, pushing USD/INR towards a one‑month high.
Canadian Dollar: Labour data seen softening – TD Securities
TD Macro Research expects the Canadian labour market to soften in June, with employment unchanged versus market expectations for a 10k gain after May’s 87.8k surge.