Industrial Production looks solid – UOB

Senior Economist at UOB Group Alvin Liew comments on the latest Inflation Production figures in Singapore. Key Takeaways “Singapore’s industrial production (IP) enjoyed another strong month in May as it rose by 10.9% m/m SA, 13.8% y/y (from the revised Apr readings of 2.1% m/m, 6.4% y/y) well exceeding Bloomberg survey estimates.” “The main sources … Read more

XAUUSD to extend its decline amid firmer dollar – Commerzbank

Gold continued to push lower and touched its lowest level in nearly two weeks at $1,816 because the US dollar appreciated noticeably. This trend is set to continue on Wednesday, strategists at Commerzbank report. ECB Lagarde rejected the idea of ​​raising interest rates by 50 bps in July “The continued strength of the dollar today … Read more

EUR/GBP can continue to trade near 0.86, cable looks more vulnerable – ING

EUR/GBP trades comfortably slightly above the 0.86 level. Economists at ING expect the pair to continue moving around this zone. Quite resilient “Sterling has weathered news of another potential Scottish referendum (19 October 2023) quite well. That may well be because the chances of Westminster granting it are unlikely—though it looks like markets may be … Read more

US Dollar has upside through the end of this year and into the early parts of 2023 – Wells Fargo

The US dollar should remain strong against more currencies; However, the peak may be approaching earlier than initially expected, according to analysts at Wells Fargo. They believe medium-term dollar strength will be most pronounced against emerging market currencies. Key Quotes: “Our short to medium term view on the US dollar is unchanged, and we continue … Read more

BoE prioritizing growth over containing inflation to favour downside – CIBC

GBP/USD is moving below 1.23. The Bank of England (BoE) prioritizing growth over containing inflation suggests GBP downside, compounded by political risks, including a potential trade spat with the EU, economists at CIBC Capital Markets report. BoE still hiking but risks undershooting expectations “Sliding consumer sentiment and spending, as real earnings head lower, will help … Read more

May’s Durable Goods Orders report shows no signs of slowing in the manufacturing sector – Wells Fargo

Data released on Monday showed Durable Goods Orders rose more than expected in May. Analysts at Wells Fargo point out the report presented gains despite softening demand for goods and signs of slowing activity in regional Fed manufacturing surveys. According to them, a broad-based gain in core capital goods shipments should lift estimates for second-quarter … Read more