Daily Market Insight

• New Zealand Delivers Another 50Bps Rate Hike • US Industrial Output Growth Beats Estimates • Euro Area Posts Another Trade Gap in June • Asian stocks solid as expectation for further Fed’s rate hike

• China's industrial production below expectations in July • China's retail sales on first 7-month dropped • OPEC sees lower 2022 oil demand growth • Dollar jumps on safety flow; yuan slips on rate cut

• Germany Wholesale Prices Decelerated • UK GDP Annual Growth Rate Lowest in a Year • Japan GDP Growth Annualized Below Forecasts • China Cuts 2 Key Rates for 1st Time in 7 Months • European Stocks to Open Mixed As Weak China Data Weighs

• U.S. Consumer Price Index eased slightly to 8.5% in July on lower petrol prices • Russia’s natural gas pipeline exports to Europe decline to almost 40-year lows • Japan producer prices rose the least in 7 months • Stock indices jumped sharply after the latest U.S. inflation data shown

• US Labor Costs Rise More than Expected • UK Retail Sales Rise on Hot Weather Spending • China Inflation Rate at 2-Year High of 2.7% • Asian shares track Wall Street losses ahead of U.S. inflation data

• Global manufacturing PMI hits 2-year low in July as production falls • UK average house price falls for the first time in a year in June • Japan ran first current account falling steepest to 8-year low • Dollar rallies on upbeat U.S. job reports, taking into a USDTHB rebound waiting for MPC rate-hike meeting

• U.S. labor market powers ahead with strong job gains despite recession fears • US Wages rise More than Expected • China’s exports beat expectation, causing Trade Surplus hits New High • US Futures Slip as surprising US job reports, China Stocks edge up on strong export data

• US Jobless Claims rise slightly but labor market remains tight • BoE raises rates by 50bps • Japan's households increase spending for first time in 4 months • Bond Yields Fall as Recession Looms

• 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