Daily Market Insight

• Oil prices slid to almost six-month low as U.S. oil inventories unexpectedly surged • EU unemployment rate dropped in June amid weakening economy • China restricts trade with Taiwan over Pelosi trip • U.S-China tensions trigger Dollar rebound

• U.S. manufacturing slows modestly; excess inventories a major concern • U.S. Job Openings Fell to Lowest in 9 Months as Labor Market Cooled • China Private Sector Growth Stays Robust • RBA interest rates: Reserve Bank lifts official cash rate by 50 basis points to 1.85% • US Futures Mixed as Fed, Earnings Weigh

• The Fed enacted its rate increase to a range of 2.25-2.5% amid slower domestic demand • Eurozone manufacturing sector fell deeper into contraction in July • China banks may face a huge loss from property crisis • Gold hits near one-month high on dollar weakness

• The Eurozone economy expanded 0.7% on quarter • Euro Area Inflation rate unexpectedly accelerates • China's July factory activity grows at slower pace • Asia shares got hit by China’s data, US stock slipped, Brent declined

• IMF cuts global growth outlook, warns high inflation threatens recession • US home prices are about to tumble as demand for new houses soften • Germany on cusp of recession, says Ifo, as business sentiment sinks • Euro fragile as Fed hike looms, gas risks weigh

• U.S. business borrowing for equipment falls 1% in June • Moody's lowers European growth forecasts amid energy crisis • Inverted yield curve in China savings rates signals sustained economic slowdown • U.S. 10-year bond yield rebounded after hits two-month low

• US Business Activity Contracts for 1st Time in Over 2 Years • Eurozone Private Sector Activity Contracts in July • UK Composite PMI Beats Expectations • Gold Holds Advance on Recession Fears

• US Jobless Claims Hit 8-Month High • ECB Raises Rates by 50bps • UK Consumer Confidence Stays at Record Low • US Stock dropped; Euro set for best week after a big hike

• China’s holdings of U.S. Treasury fall below $1 trillion since 2010 • UK inflation rises to 40-Year High of 9.4% in June • Japan posts trade deficit for the 11th month in June as energy imports surge • Euro surges to two-week high as markets bet on ECB’s action

• US Building Permits Fall for 3rd Month • Euro Area Inflation Rate Confirmed at 8.6% • UK Jobless Rate Steady at 3.8% • Dollar Set to Fall for 4th Straight Session