A big beat for US Retail SalesLifted the USDTreasury Yields Global stock markets, With a variety of “soft landing” There are many scenarios and even talk about a “no landing”. If inflation slows down, the economy continues to grow steadily while unemployment is low. However, this does not result in an increase in inflation. There is a real difference in the way people see things. Goldman Sachs Reduce the likelihood of a US downturn in the next 12months to 25% from 35%; US 2yr/10yr yield curve -87bp As the 10yr reaches a 7 week high. Overnight: Japan reported it’s largest ever trade deficit at $174 billion Due to rising energy costs, imports increased and exports were unable to offset. AUD After a slump in employment, the unemployment rate is lower-11.5k vs +20k) & unemployment up (3.7% Starting at 3.5%
- FX – USD Index tested into 104.00 A 28-day high. Return to 103.65 now. EUR The weekly low at 1.0670 was tested before the recovery. 1.0700, JPY Bruted 134.00 (new 28-day high) & tardes at 133.86 now. Sterling From 1.2175 To Once again, bounce from below 1.2000 Trade at 1.2050 right now Nicola Sturgeon the First Minister of Scotland announced a shock resignation, that will likely strike a blow for Scottish independence and increase the chances of the Labour Party at…
