“Manufacturing conditions in the region showed improvement this month and the diffusion index for current general activity more than recovered from its decline last month, increasing from 0.3 in June to 21.8 this month,” showed the Federal Reserve Bank of Philadelphia’s July Manufacturing Business Outlook Survey released this Thursday. Key takeaways from the press release
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ANZ analysts note that the Bank of Korea (BoK) cut its policy rate by 25bp to 1.50% today, surprising the consensus. Key Quotes “In our view, the BoK’s decision to cut sooner rather than later signals that growth concerns are at the forefront and leaves the door open for further easing in the coming months.”
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Down -$0.84 or -1.46% The price of WTI crude oil is settling after $56.78. That is down -$.84 or -1.46%.  The high price today extended to $58.36. The low came in at $56.61. The contract is closing near the low for the day. Technically the high price was able to extend above its 200 day
Economic data coming up US data today is focused on housing with the June housing starts report coming up at 1230 GMT. I don’t see a US dollar risk around this report unless there is a major surprise. Home builders were a touch more optimistic in this week’s NAHB report so any miss to the
Gerard Burg, senior economist at National Australia Bank, notes that China’s economy grew by 6.2% yoy in Q2 2019, in line with their expectations and down from 6.4% yoy in both Q1 2019 and Q4 2018. Key Quotes “This rate of growth is softer than the trough recorded during the GFC, meaning that growth in
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