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US July PPI +0.8% y/y vs +0.7% expected

US July PPI +0.8% y/y vs +0.7% expected

> US July PPI +0.8% y/y vs +0.7% expected <!--> Adam Button Friday, 11/08/2023 | 12:30 GMT-0 11/08/2023 | 12:30 GMT-0 --> <!--> Prior was +0.1% y/yPPI final demand m/m +% vs +0.2% y/y expectedPrior was +0.1% m/m ADVERTISEMENT - CONTINUE READING BELOW...

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US PPI is coming up next

US PPI is coming up next

Happy Friday.The July producer price index is due at the bottom of the hour and might be a minor market mover. The consensus is +0.7% y/y on the headline and +2.3% y/y on core.At 10 am ET, the August US consumer sentiment report from the University of Michigan is due...

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Tough week for gold amid higher bond yields

Tough week for gold amid higher bond yields

As bond markets puked yesterday, it validated the drop in gold this week amid a firmer dollar as well. Gold may be up 0.3% today (at least for now) but is still down 1.3% on the week and set for its worst performance since mid-June. Looking at the chart:Gold (XAU/USD)...

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The light optimism begins to fade in equities once again

The light optimism begins to fade in equities once again

S&P 500 futuresThings are starting to turn in the equities space now as the selling since the turn of the month continues to stay the course. The turnaround and late dip in Wall Street yesterday certainly did break a lot of the confidence after the US CPI report...

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Chia July M2 money supply +10.7% vs +11.0% y/y expected

Chia July M2 money supply +10.7% vs +11.0% y/y expected

Prior +11.3%New yuan loans ¥345.9 billion vs ¥800.0 billion expectedPrior ¥3.05 trillionThe slowdown in broad money growth in China continues with new yuan loans also dipping after the huge surge at the end of Q2. Beijing has a tough task in trying to balance out...

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Eurozone Inflation Outlook Remains Uncertain

Eurozone inflation may have come down again in July, but as the ECB flagged in its latest economic bulletin, the outlook for inflation remains highly uncertain, as does the outlook for growth. Wage growth remains high, and while longer inflation expectations have...

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IEA lowers forecast for oil demand growth for next year

IEA lowers forecast for oil demand growth for next year

World oil demand hit a record 103 mil bpd in JuneAugust could yet see another peak in demand2024 global oil demand growth forecast revised down to 1 mil bpd (previously 1.15 mil bpd)If OPEC+ current targets are maintained, oil inventories could draw by 2.2 mil bpd in...

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FX option expiries for 11 August 10am New York cut

FX option expiries for 11 August 10am New York cut

There are a couple to take note of on the day, as highlighted in bold.They are all pertaining to EUR/USD and lie between 1.0950 to 1.1000, so that is likely to keep price action more limited during the session before rolling off later today. It's a quiet on in markets...

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Spain July final CPI +2.3% vs +2.3% y/y prelim

Spain July final CPI +2.3% vs +2.3% y/y prelim

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...

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France July final CPI +4.3% vs +4.3% y/y prelim

France July final CPI +4.3% vs +4.3% y/y prelim

Prior +4.5%HICP +5.1% vs +5.0% y/y prelimPrior +5.3%This just reaffirms that French inflation pressures are starting to cool but it is still well above the 2% desired target. We'll see if the trend can keep up in the months ahead but for now, the ECB can take heart in...

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UK June monthly GDP +0.5% vs +0.2% m/m expected

UK June monthly GDP +0.5% vs +0.2% m/m expected

Prior -0.1%The beat here is helping to carry the Q2 GDP figures as well and looking at the breakdown, services contributed 0.16%, production 0.25%, and construction 0.11% on the month. The improvement in the services sector is a positive at least, after having...

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UK Q2 preliminary GDP +0.2% vs 0.0% q/q expected

UK Q2 preliminary GDP +0.2% vs 0.0% q/q expected

Prior +0.1%GDP +0.4% vs +0.2% y/y expectedPrior +0.2%The pound is up slightly on the numbers here as the June monthly GDP beat is helping to feed into a more positive Q2 picture overall. As a whole, UK GDP is now estimated to be just 0.2% below its pre-pandemic level...

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UK GDP on the agenda for today

UK GDP on the agenda for today

Markets are settling down after the volatile movements amid the US CPI data yesterday. The bond market puked and that for me is the key takeaway move, with equities also failing to hold on to gains and reversing lower thereafter. Even if Wall Street did close...

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