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Eurostoxx -0.4%Germany DAX -0.3%France CAC 40 -0.2%UK FTSE +0.2%Spain IBEX +0.4%UK stocks are still sensing some optimism from the softer inflation numbers yesterday at least. Looking over to US futures, tech shares are the laggard with Nasdaq futures now down 0.6%....

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> Germany June PPI -0.3% vs -0.4% m/m expected Latest data released by Destatis - 20 July 2023 <!--> Justin Low Thursday, 20/07/2023 | 06:00 GMT-0 20/07/2023 | 06:00 GMT-0 --> <!--> Prior -1.4%PPI +0.1% vs 0.0% y/y expectedPrior +1.0% ADVERTISEMENT -...

> Switzerland June trade balance CHF 4.82 billion vs CHF 5.48 billion prior Latest data released by the Federal Statistics Office - 20 July 2023 <!--> Justin Low Thursday, 20/07/2023 | 06:00 GMT-0 20/07/2023 | 06:00 GMT-0 --> <!--> Prior CHF 5.48...

Growth forecast for FY2023/24 seen at 1.3% (previously 1.5% in January)Growth forecast for FY2024/25 seen at 1.2%Inflation forecast for FY 2023/24 seen at 2.6% (previously 1.7%)Inflation forecast for FY 2024/25 seen at 1.9%That's a big bump to the inflation forecast...

Must create a society where wage hikes become a normMust be mindful of impact of any inflation overshoot on real incomeWell, if Japanese policymakers and lawmakers wanted a boost from wages, they got it already this year. And if they fail to build or capitalise on...

It looks like the dollar demise may have to be put off until the Fed next week. USD/JPY ran up close to 140.00 on the recovery bounce yesterday before falling back while GBP/USD has declined strongly after the softer UK CPI data yesterday. The latter threatened a drop...

It's a bit of a choppy week for the dollar in general but on the balance of things, it is keeping somewhat steadier. USD/JPY came close to testing the 140.00 mark yesterday before falling off, now down to 139.30. Meanwhile, EUR/USD is not doing much this week as price...

And with good reason, as it is benefiting from a solid labour market report as well as a much stronger Chinese yuan. On the latter, the PBOC moved to ease cross-border funding and also fixed the onshore yuan extremely strongly today.The Chinese central bank actions...

> Bank of America lowered their 2023 China GDP forecast to 5.1% from 5.7% previously China Stock Market <!--> --> Eamonn Sheridan Thursday, 20/07/2023 | 03:35 GMT-0 20/07/2023 | 03:35 GMT-0 <!--> --> BoA jumping on board with the GDP projection...

Chatter about the place, no further details at this stage but if true would be supportive of risk assets at the margin. The aim would be to spur residential property buying to help prop up the troubled sector.Added - ok here we go, a little more (info via Bloomberg,...

The attention on the People’s Bank of China’s loan prime rate (LPR) setting today was misplaced. These, the one- and five-year, were left unchanged as expected. The PBOC instead sent markets into a frenzy with two moves:the Bank set the USD/CNY reference rate more...

> AUD/USD higher - stronger yuan fix, good jobs report <!--> --> Eamonn Sheridan Thursday, 20/07/2023 | 01:34 GMT-0 20/07/2023 | 01:34 GMT-0 <!--> --> AUD/USD has jumped higher with supportive news from China (boosting the yuan)And also from...

Another very solid jobs report from Australia. If the Reserve Bank of Australia is worried about the labour market they really need not be. Unemployment is basically at a 48 year low. More:youth unemployment rate decreased to 7.7%hours worked were +0.3% MoneyMaker FX...

The macro-prudential adjustment parameter is a multiplier that determines the upper limit of outstanding cross-border financing an institution can have.Has been revised to 1.5, up from 1.25 previously, Statement issued by the People's Bank of China and the State...