Note

Daily digest market movers: Data to the forefront

Wulan Viana
· Views 32


  • With former US President Trump picking J.D. Vance as running mate, the main theme for Trump’s campaign becomes very clear, as Senator Vance is known for his call for more harsh and severe measures against China. This means a bigger and broader tariff package against China and other countries that import goods to the US. 
  • At 12:30 GMT, the monthly Retail Sales data for June will be released, together with the Import-Export Price Index:
    • Retail Sales are expected to remain unchanged at 0% in the month after growing by 0.1% in May.
    • Retail Sales ex Autos are seen growing 0.1% after the -0.1% in May.
    • As usual, revisions of the previous numbers will be more important and market-moving than the actual data. 
    • The monthly Import Price Index is expected to increase by 0.2% in June from -0.4% the previous month.
    • The monthly Export Price Index was at -0.6% in May, with no projection forecasted.
  • At 14:00 GMT, the Business Inventories data for May will be released, and they are expected to remain stable at 0.3%. 
  • At the same time, the NAHB Housing Market Index for July will be released by the National Association of Home Builders. Previously, the Index stood at 43, with a small uptick to 44 expected. 
  • Equity markets are very mixed with no clear pattern, besides that, European equities are on the back foot. US futures are marginally in the green. 
  • The CME Fedwatch Tool shows an 89.4% chance of a 25 basic points (bps) interest rate cut by the Fed in September and 10.4% for a 50 bps cut. An unchanged scenario with no rate change is off the table. 
  • The US 10-year benchmark rate trades at 4.20%, flirting with the yearly lows

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.

Content related