Daily Market Insight

• US consumer confidence races to 17-month high; housing market regaining strength • China’s deepening slide in industrial profits adds to economic gloom • Thai exports drop less than expected in May, seen improving in second half • Japanese intervention in focus as yen heads to 145 level

• UK retail sales fall for second month in June • Drop in German business morale points to longer recession • S&P cuts China GDP forecast as calls for stimulus intensify • Dollar edges off 15-month high vs rouble as Russia eyed

• US business activity growth slows in June, but services keep humming along • UK economy stumbles but price pressures remain high • Singapore May core inflation rises 4.7% y/y, matches forecast • Dollar higher on safety bid as data spurs growth worries

• US jobless claims hold at 20-month high, existing home sales tick up in May • Bank of England hikes rates to 5% in surprise move to tackle stubborn inflation • Japan’s inflation stays above BOJ target, key gauge hits 42-year high • Dollar up on risk aversion; sterling, Swiss franc slip despite rate hikes

• UK's stubborn inflation fails to fall, turning up heat on BoE • German recession will be sharper than expected • Japan big manufacturers' sentiment positive for 3rd consecutive month • Dollar dips as Powell testimony disappoints hawks

• Euro zone May inflation confirmed at 6.1% yr/yr, core eases • Japan Finance Minister says no change in FX policy after US report • China cuts lending benchmark rate as economic recovery sputters • Dollar nudges up, sterling near 14-month highs ahead of BoE decision

• Euro zone May inflation confirmed at 6.1% yr/yr, core eases • Japan Finance Minister says no change in FX policy after US report • China cuts lending benchmark rate as economic recovery sputters • Dollar nudges up, sterling near 14-month highs ahead of BoE decision

• US consumers' near-term inflation expectations hit two-year low; sentiment rises • BOJ keeps low rates and dovish guidance, markets not so sure • Goldman Sachs cuts China GDP forecast for 2023 • Dollar rebounds from one-month low; yen under pressure after BOJ meeting

• ECB raises rates to 22-year high, in no mood to pause • U.S. business inventories rebound in April • China's economy slows in May, more stimulus expected • Euro advances, surges to 15-year peak vs yen, after ECB lifts rates

• Fed leaves rates unchanged, sees two small hikes by end of 2023 • US producer inflation subsides as energy, food prices drop • Euro zone industrial production up more than expected in April • Dollar rallies in Asia after Fed signals rate hikes; yuan, kiwi slide