Market News
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Federal Reserve: RMP pause and QT timing – TD Securities
TD Securities’ Gennadiy Goldberg and Molly Brooks analyze the Federal Reserve’s decision to halt Reserve Management Purchases (RMP) after tapering from $40bn to $10bn per month.
Eurozone Q2 GDP growth remains at 0.4%, as flash data showed
According to Eurostat, the Eurozone Gross Domestic Product (GDP) growth in the second quarter this year remains at 0.4%, as shown by the preliminary data released on July 30.
Eurozone Gross Domestic Product s.a. (YoY) meets expectations (1%) in 2Q
Eurozone Gross Domestic Product s.a. (YoY) meets expectations (1%) in 2Q
Eurozone Gross Domestic Product s.a. (QoQ) in line with forecasts (0.4%) in 2Q
Eurozone Gross Domestic Product s.a. (QoQ) in line with forecasts (0.4%) in 2Q
Eurozone Trade Balance n.s.a. registered at €8.6B above expectations (€-2.2B) in June
Eurozone Trade Balance n.s.a. registered at €8.6B above expectations (€-2.2B) in June
Eurozone Trade Balance s.a. increased to €1.8B in June from previous €-5B
Eurozone Trade Balance s.a. increased to €1.8B in June from previous €-5B
Eurozone Employment Change (QoQ) meets expectations (0.1%) in 2Q
Eurozone Employment Change (QoQ) meets expectations (0.1%) in 2Q
Eurozone Employment Change (YoY) unchanged at 0.5% in 2Q
Eurozone Employment Change (YoY) unchanged at 0.5% in 2Q
British Pound: Growth resilience supports gains against US Dollar – MUFG
MUFG’s Lee Hardman reports the British Pound (GBP) is the best performing major currency in August, with GBP/USD back above 1.3500. The United Kingdom (UK) economy is proving resilient to the energy price shock linked to the US-Iran conflict, with Q2 GDP up 0.4% after 0.6% in Q1.
Euro flattens against Japanese Yen, ECB-BoJ to raise rates in September
The Euro (EUR) trades flat at around 183.85 against the Japanese Yen (JPY) during the European trading session on Friday. The cross consolidates while investors seek fresh cues regarding whether there will be more United States (US)-Japan joint intervention to prop up the Japanese currency.
Japanese Yen: Shifting rate expectations and currency support – Commerzbank
Commerzbank’s Volkmar Baur notes that Japanese government support for an imminent Bank of Japan rate hike has reinforced market expectations rather than surprised them. Probabilities now favor a hike as early as September, with October fully priced and another move in December possible.
China M2 Money Supply (YoY) registered at 7.7%, below expectations (7.9%) in July
China M2 Money Supply (YoY) registered at 7.7%, below expectations (7.9%) in July
China New Loans fell from previous 1610B to -340B in July
China New Loans fell from previous 1610B to -340B in July