Daily Market Insight

• Global manufacturing PMI hits 2-year low in July as production falls • UK average house price falls for the first time in a year in June • Japan ran first current account falling steepest to 8-year low • Dollar rallies on upbeat U.S. job reports, taking into a USDTHB rebound waiting for MPC rate-hike meeting

• U.S. labor market powers ahead with strong job gains despite recession fears • US Wages rise More than Expected • China’s exports beat expectation, causing Trade Surplus hits New High • US Futures Slip as surprising US job reports, China Stocks edge up on strong export data

• US Jobless Claims rise slightly but labor market remains tight • BoE raises rates by 50bps • Japan's households increase spending for first time in 4 months • Bond Yields Fall as Recession Looms

• Oil prices slid to almost six-month low as U.S. oil inventories unexpectedly surged • EU unemployment rate dropped in June amid weakening economy • China restricts trade with Taiwan over Pelosi trip • U.S-China tensions trigger Dollar rebound

• U.S. manufacturing slows modestly; excess inventories a major concern • U.S. Job Openings Fell to Lowest in 9 Months as Labor Market Cooled • China Private Sector Growth Stays Robust • RBA interest rates: Reserve Bank lifts official cash rate by 50 basis points to 1.85% • US Futures Mixed as Fed, Earnings Weigh

• The Fed enacted its rate increase to a range of 2.25-2.5% amid slower domestic demand • Eurozone manufacturing sector fell deeper into contraction in July • China banks may face a huge loss from property crisis • Gold hits near one-month high on dollar weakness

• The Eurozone economy expanded 0.7% on quarter • Euro Area Inflation rate unexpectedly accelerates • China's July factory activity grows at slower pace • Asia shares got hit by China’s data, US stock slipped, Brent declined

• IMF cuts global growth outlook, warns high inflation threatens recession • US home prices are about to tumble as demand for new houses soften • Germany on cusp of recession, says Ifo, as business sentiment sinks • Euro fragile as Fed hike looms, gas risks weigh

• U.S. business borrowing for equipment falls 1% in June • Moody's lowers European growth forecasts amid energy crisis • Inverted yield curve in China savings rates signals sustained economic slowdown • U.S. 10-year bond yield rebounded after hits two-month low

• US Business Activity Contracts for 1st Time in Over 2 Years • Eurozone Private Sector Activity Contracts in July • UK Composite PMI Beats Expectations • Gold Holds Advance on Recession Fears