Daily Market Insight

• US new business applications hit two-year high in June • UK's high inflation cools, offering some relief to Bank of England • Japan exports underwhelm in June, global weakness drags on economy • Dollar gains as pound tumbles on cooling UK inflation

• US retail sales rise moderately; economy plodding along • Developing Asia on track to grow faster in 2023 • New Zealand CPI higher than expected in Q2, more RBNZ hikes on tap • Dollar bounces from 15-month low on strong core U.S. retail sales

• US banks warn stricter capital rules will raise prices • Australia central bank hit pause as policy clearly restrictive, risking growth • China's Q2 GDP growth slows to 0.8% q/q, raises stimulus expectations • Dollar decline slows as investors wait on Fed

• US inflation outlook brightening; consumer sentiment near two-year high • China June new home prices flat in weakest showing this year • Singapore dodges recession after slight growth in Q2 • Dollar gains after steep losses, but downtrend stays intact

• U.S. PPI cools to 0.1% in June • China's Q2 GDP seen rising 7.3% y/y but on low base, recovery fades • Singapore’s economy grows slightly more than expected in Q2 • Dollar buckles on US disinflation signs as Fed nears end of hiking cycle

• U.S. inflation eases to 3.0% in June • Japan households' inflation expectations rise, keep pressure on BOJ • China's export slide to steepen in June, imports seen down • US dollar stumbles, drops to more than one-year low as inflation eases in June

• US wholesale inventories revised up in boost to second-quarter GDP • UK wage growth matches record high but job market shows signs of cooling • Japan's wholesale inflation slows for 6th straight month • Dollar dives to two-month low, pound scales 15-month peaks on wage growth data

• US wholesale inventories revised up in boost to second-quarter GDP • Euro zone investor mood tumbles more than expected in July • China's deflation pressure builds as consumer prices falter • US dollar drops to three-week low as Fed rate hikes nearly done

• U.S. economy adds 209,000 jobs in June • U.S. service sector picks up in June; inflation gradually slowing • Euro zone retail sales flat in May, still down year-on-year • Dollar slips as US job growth slows in June, yen jumps

• U.S. factory orders miss expectations in May • Euro zone business activity contracts in June • Thai headline inflation at 22-month low, but central bank may hike rate further • Dollar gains after Fed minutes reinforce rate hike expectations