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Heads up:Markets:USD leads, AUD lags on the dayEuropean equities lower; S&P 500 futures down 0.3%US 10-year yields up 3.6 bps to 3.992%Gold down 0.6% to $1,953.09WTI crude down 0.4% to $81.50Bitcoin down 1.2% to $28,854The Australian dollar is the biggest loser in...

It is being said that China's currency regulators have in recent weeks asked some commercial banks to either reduce or delay their dollar purchases. This is an informal instruction (of course, naturally) that was meant to slow down the pace of depreciation in the...

S&P 500 futuresEurostoxx -1.0%Germany DAX -1.0%France CAC 40 -1.0%UK FTSE -0.6%Spain IBEX -1.0%Italy FTSE MIB -1.2%It's not a good look for European indices either as seen above, with US futures also tilting lower on the session. There aren't any major catalysts...

Prior 6.5%; revised to 6.4%The euro area jobless rate holds steady in June after the revision to the May reading and that continues to hint that labour market conditions are still holding up well in the region. That is at least a positive development for the ECB in...

Prior 46.5It's a mild revision higher to the initial estimate but it still marks a seven-month low for the UK manufacturing PMI. Output and new orders are both seen falling at faster rates as demand conditions falter. HCOB notes that:“July saw a deepening of the UK's...

The dollar is in a decent spot so far on the session, keeping mostly steadier against the European currencies while higher against the commodity currencies. The euro and pound are still seeing narrow ranges against the greenback, so there isn't much to really talk...

> Eurozone July final manufacturing PMI 42.7 vs 42.7 prelim Latest data released by HCOB - 1 August 2023 <!--> Justin Low Tuesday, 01/08/2023 | 08:00 GMT-0 01/08/2023 | 08:00 GMT-0 --> <!--> Prior 43.4 ADVERTISEMENT - CONTINUE READING BELOW -->...

Prior 28kUnemployment rate 5.6% vs 5.7% expectedPrior 5.7%The German jobless total falls slightly in July, beating expectations of a rise in unemployment. The jobless rate also declined slightly and that continues to reaffirm that labour market conditions are keeping...

Prior 40.6This just reaffirms the ugly preliminary estimate as German manufacturing slumped heavily as we enter into Q3. The headline reading is the lowest since May 2020 as a deepening decline in output and new orders was observed. HCOB notes that:"These are ugly...

Prior 46.0There is a slight revision higher to the initial estimate but it still points to a deeper downturn in French manufacturing to start Q3. Demand conditions are deteriorating and that is leading to a fall in production and purchasing activity. Meanwhile,...

Prior 43.8Italian manufacturing activity improved slightly in July but still sits in contraction territory, as the downturn eases ever so slightly. Output and new orders are both still registering sharp declines but falling demand and improved supply is at least...

Prior 48.0Softness in demand conditions continues to weigh as the Spanish manufacturing downturn deepens in July. There was a sharp reduction in both output and new orders but at least there is further downward pressure on prices as well on the month. HCOB notes...

In 2022, gold demand rose to its highest in 11 years owing much to the biggest central bank purchases on record. And despite a slowdown in buying by central banks in Q2 this year (102.9 metric tons) compared to that of last year (158.6 metric tons), the purchases in...

Eurostoxx -0.1%Germany DAX -0.1%France CAC 40 -0.1%UK FTSE flatSpain IBEX +0.1%The changes are light as US futures are also not showing much appetite and keeping flattish on the day. We have a slew of manufacturing PMIs coming up for Europe later but they shouldn't...