Daily Market Insight

• Fed's Powell highlights inflation progress • China GDP disappoints at 4.7% in Q2 as weak spending weighs • China's new home prices decline sharply, highlighting the need for additional support • The dollar edges slightly lower after Powell

• US Producer Prices Rise as Service Margins Increase • Investors expect an increase in Trump-victory trades following the shooting • China's trade balance soars in June with rising exports and falling imports • The Dollar index extended into its third day of declines

• U.S. inflation eases, likely ensuring Fed rate cut • US weekly jobless claims fall more than expected • Stronger UK economic growth benefits new government • The dollar tumbled on a cooler-than-expected US CPI report

• Powell's second day of testimony reiterated that more convincing data is needed • US wholesale inventories rise in May • China CPI inflation slows in June, PPI shrinks at slowest pace in 16 months • The dollar index traded within a very narrow range as traders awaited the US CPI data

• Chair Powell largely stuck to the script at the Senate testimony • Australia's consumer sentiment worsened due to concerns about rates and inflation • Taiwan sees 28-month high in export and import growth for June • Dollar remained within a narrow range following Fed Chair Powell's remarks

• Joe Biden vowed to stay in the presidential race • Japan posts current account surplus of $17.7 billion in May • China's central bank adopts new tool for liquidity and interest rates. • Dollar stabilizes ahead of key data

• The U.S. added 206,000 jobs, with a slight uptick in the unemployment rate. • Left-wing New Popular Front coalition leads French election • Thailand's headline inflation eases in June • Dollar falls as US payroll report bolsters the odds for Fed rate cuts

• UK election: Exit poll predicts a significant victory for Labour • Euro zone household savings highest since 2021, but investments fall • Japanese household spending unexpectedly declined • The dollar slightly declines during trading on a holiday

• ADP job growth in the US decelerated in June • The US ISM service sector weakened as orders declined • Jobless claims rose more than expected and remain near a one-year high • Downbeat data drives the US dollar index lower

• US labor market easing despite more job openings • Powell's comments leaning towards a dovish stance • Euro zone inflation eases a touch, but services costs stuck • US dollar inches lower as dovish Powell comments offset upbeat jobs data