Market Overview - Page 102

The US economy created 528K new jobs in July, doubling expectations and exceeding the peak employment level set before the pandemic. Notably, construction and manufacturing recovered, probably due to falling commodity prices in these sectors. The hourly earning rate has.

The S&P500 is at 4150, having returned to the rebound highs of late May. The direction of the breakout outside the 4100-4200 range will determine its future for the next days or weeks. In mid-June, the S&P500 halted its correction.

The Bank of England unanimously raised the rate by 50 points to 1.75%, which was widely expected by markets. In addition, the BoE announced that it would start quantitative tightening after the September meeting by selling assets off the balance.

Wednesday proved to be a busy day for oil traders, but the bears emerged as winners at the end of the day. Following WTI, which surrendered a tactically important position, Brent is showing more and more signs of a bear.

In contrast to many other countries and regions, the Eurozone recorded a slowdown in output inflation. The year-over-year PPI growth rate declined for the second month, showing a fall in June to 35.8% from 36.2% and 37.3% in the previous.

Inflation in Turkey continues to gain momentum. A fresh set of monthly statistics showed consumer inflation accelerating to 79.6% y/y and producer inflation to 144.6% against 78.6% and 138.3% a month earlier, respectively. The rise in the PPI rate is.

Silver has pulled back 3% in the last 18 hours, while Gold has lost 1.2% in the same time frame. The pullback came as some investors exhaled after China’s reaction to the Pelosi plane landing in Taiwan. Investors were banking.

WTI oil lost more than 4.5% on Monday, returning to the area of last month’s lows and marking a new stage of the downtrend. Oil dynamics are tightly linked to the expected economic growth rate and appear weakly linked to.

The last two weeks of July have seen a pullback in the markets towards risky assets, with the dollar retreating from multi-year highs against major currencies. Over the past two weeks, signs of an economic slowdown in the US have.

Americans increased spending (+1.1%) faster than income (+0.6%) in June. Both figures exceeded expectations, which is a bullish signal for the markets and the dollar as it shows buying is in good shape. But this may only be a good.

Inflation in the eurozone continues to speed up. Preliminary data for July showed a price increase of 8.9% against 8.6% a month earlier and the expected 8.7%. The core price index (which excludes energy and food) rose 4% y/y vs.

The Japanese yen has gained 3.4% against the dollar in less than 48 hours, recovering to 132.7 from a month and a half ago. Before that, from early March to mid-July, USDJPY soared by more than 20% on diverging monetary.