Weekly Macro & Markets View
What were the key global economic data releases, what is Zurich’s view and what does this mean for financial assets?
Weekly Macro and Markets View, Week 29
Highlights and View
- US inflation readings post lowest
gains in years
CPI inflation surprises positively at both the headline and core levels, increasing the odds of a Fed rate cut in September. - A second round of apparent Bank
of Japan intervention strengthens
the yen from its 38-year high of
around 161.80 to 157.40
The estimated volume of USD 22bn was lower than that during the previous intervention in late April, but was enough to push the rate back to its 55-day moving average. - China’s economic data for June and
Q2 continue to disappoint, with
exports remaining the bright spot,
while domestic demand struggles
The focus will be on reform measures during the Third Plenum and stimulus measures during the Politburo meeting later this month.
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