- Signs mount that the Canadian consumer is slowing with jobs report due today
- PBoC: Will guide reasonable credit growth
- Fed's Collins: It will be appropriate to ease soon if data aligns with expectations
- What to watch out for on the economic calendar next week?
- US futures stick with the bounce from yesterday so far on the session
- Weekly update on interest rates expectations
- Italy July final CPI +1.3% vs +1.3% y/y prelim
- European equities keep slightly higher to start the day
- FX option expiries for 9 August 10am New York cut
- What are the main events for today?
- Japan's Nikkei salvages a positive close on the day, and just down over 2% on the week
- Germany July final CPI +2.3% vs +2.3% y/y prelim
- Little on the agenda in European morning trade today
- Japan's Nikkei stumbles in the final stages of trading today
- A calmer mood set to greet European traders later
Markets:
- CHF leads, AUD lags on the day
- European equities higher; S&P 500 futures +0.20%
- US 10-year yields down 4.1 bps to 3.951%
- Gold up 0.20% to $2,432
- WTI crude up 0.30% to $76.42
- Bitcoin up 2.01% to $60726
The European session today was once again uneventful with no fresh economic data or notable headlines. The risk mood remains positive following yesterday’s US jobless claims figures, and I don’t see anything that can change it going into the weekend unless we get some scary headlines from the Middle East.
In the markets, risk assets are faring pretty well with equities and bitcoin being up to on the day. The major pairs are mostly flat and the US Treasuries are up. The notable mover is crude oil which is likely being supported by defensive positioning into the weekend risk as the tensions in the Middle East remain present.
In the American session, we will get the Canadian labour market report where the consensus expects the data to show 22.5K jobs added in July vs. -1.4K prior and the Unemployment Rate to tick higher to 6.5% vs. 6.4% prior.
That’s all folks. Have a great weekend!
