Pessimism grows on US housing market, Warm weather boost UK retail sales, European tech stocks best-performing in Stoxx 600.
August 9, 2022
GBP/USD 1.2068 GBP/EUR 1.1835 EUR/USD 1.0197 USD/CAD 1.2868 EUR/CHF 0.9730 EUR/SEK 10.3592 EUR/NOK 9.9353 EUR/DKK 7.4408 USD/ILS 3.3191 AUD/USD 0.6969 NZD/USD 0.6273 USD/SGD 1.3793 USD/JPY 134.88 USD/CNH 6.7612 USD/INR 79.6550 EUR/ILS 3.3845 GBP/ILS 4.0054 USD/ZAR 16.6208
Britain’s spell of warm weather has boosted sales and spending, notably in regions used for ‘staycations. The BRC said its measure of retail sales rose 2.3% in July.
Rishi Sunak has announced that he would build on a support package which gives each household £400 of energy bills from October.EUR
European tech stocks are the best-performing sector of the Stoxx 600, however tech still faces several headwinds from hawkish central banks, soaring inflation and supply constraints.
The German governments wants to reduce the tax burden by €10.1 billion to offset inflation.USD
The FBI have raided the Florida residence of Donald Trump, as part of a probe into whether he took classified documents from the White House.
US consumers have become the most pessimistic about housing since 2011. The Home Purchase Sentiment Index dropped to 62.8, down from 13 points the year before. A St. Louis fed study showed that ending covid jobless benefits boosted US employment, with recipients seeing a one-for-one replacement rate on lost earnings.ASIA/PACIFIC
Japan’s M2 money supply gained 3.4% YoY last month, beating estimates. Chinese lending data could be released today. It is likely to show a sharp decline, due to seasonal factors, housing market turmoil and slow government bond sales.ILS
USDILS trades 0.15% higher, around 3.32. Yesterday, Israel reopened the Kerem Shalom crossing, Gaza’s only commercial crossing.Data & Events
No major events today.
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