UK Job vacancies fall signalling cooling labour market, Fed’s tightening could erase S&P500 Rally, Chinese media calls for further stimulus.
August 16, 2022
GBP/USD 1.2051 GBP/EUR 1.1865 EUR/USD 1.0157 USD/CAD 1.2908 EUR/CHF 0.9626 EUR/SEK 10.5267 EUR/NOK 9.8779 EUR/DKK 7.4368 USD/ILS 3.2647 AUD/USD 0.7014 NZD/USD 0.6344 USD/SGD 1.3792 USD/JPY 133.73 USD/CNH 6.8073 USD/INR 79.3500 EUR/ILS 3.3155 GBP/ILS 3.9341 USD/ZAR 16.4533
UK Job vacancies fell for the first time since August 2020 in an initial sign that the labour market may be starting to cool. Job openings fell by roughly 20,000 whilst employment increased by 160,000.
Sunak has pledged to overhaul the ‘bloated’ civil service if he becomes prime minister.EUR
Germany’s ZEW survey is expected to show a mixed outlook whilst reflecting overall bearishness. The current situation gauge is seen worsening to -49, whilst the expectations reading might moderate at 52.7.USD
Some market participants see the Fed’s tightening cycle shaving up to 7% of value off the S&P500 from its current levels. US industrial production is expected to rebound in July, with the headline rate expected to rise by 0.9%, following a -0.2% slip the month prior.
The justice department opposed the release of an FBI affidavit justifying the search warrant used on Trump’s Florida home.ASIA/PACIFIC
Chinese state media called for further stimulus, with the PBOC-backed financial news claiming that Beijing should introduce new pro-growth policies.
Japan’s tertiary industry index dipped 0.2% in June, meanwhile India’s wholesales prices gained 13.9% YoY.ILS
USDILS trades 1.18% higher this through this week at around 3.26.Data & Events
Germany’s ZEW Survey
US Industrial Production
US Housing starts, building permits.
Euro-Area Trade Balance
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