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British Pound: Fiscal tightrope shapes outlook – OCBC
OCBC strategists Sim Moh Siong and Christopher Wong highlight that hopes of a fiscally conservative Chancellor under incoming United Kingdom (UK) Prime Minister Burnham have supported the British Pound (GBP) and gilts.
British Pound eases against Yen after hitting highest level since 2007
GBP/JPY trades with a mild negative bias on Thursday, taking a breather after climbing to its highest level since December 2007 the previous day, as the British Pound benefited from easing political uncertainty and expectations of greater fiscal discipline.
US Initial Jobless Claims dropped to 208K last week
According to a report from the US Department of Labor (DOL) released on Thursday, the number of US citizens submitting new applications for unemployment insurance shrank to 208K for the week ending July 11.
United States Retail Sales rise 0.2% in June to $768.6 billion
Retail Sales in the United States (US) rose by 0.2% on a monthly basis in June to $768.6 billion, the US Census Bureau reported on Thursday. This print followed the 1% increase recorded in May and came in line with the market expectation. On a yearly basis, Retail Sales were up 6.7%.
United States Retail Sales (YoY) declined to 6.7% in June from previous 6.9%
United States Retail Sales (YoY) declined to 6.7% in June from previous 6.9%
United States Continuing Jobless Claims registered at 1.805M, below expectations (1.82M) in July 3
United States Continuing Jobless Claims registered at 1.805M, below expectations (1.82M) in July 3
United States Retail Sales ex Autos (MoM) below forecasts (-0.1%) in June: Actual (-0.2%)
United States Retail Sales ex Autos (MoM) below forecasts (-0.1%) in June: Actual (-0.2%)
United States Retail Sales Control Group meets expectations (0.5%) in June
United States Retail Sales Control Group meets expectations (0.5%) in June
United States Philadelphia Fed Manufacturing Survey above forecasts (13) in July: Actual (41.4)
United States Philadelphia Fed Manufacturing Survey above forecasts (13) in July: Actual (41.4)
United States Retail Sales (MoM) meets expectations (0.2%) in June
United States Retail Sales (MoM) meets expectations (0.2%) in June
United States Initial Jobless Claims came in at 208K below forecasts (217K) in July 10
United States Initial Jobless Claims came in at 208K below forecasts (217K) in July 10
United States Initial Jobless Claims 4-week average down to 214.25K in July 10 from previous 218.75K
United States Initial Jobless Claims 4-week average down to 214.25K in July 10 from previous 218.75K
Canadian Dollar: BoC hold and guidance shift – TD Securities
TD Securities notes the Bank of Canada (BoC) kept its policy rate at 2.25% and softened guidance by removing references to both rate-cut risks and consecutive hikes. Markets interpreted the statement as mildly dovish, but prior moves limited volatility.