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US President Trump can add another feather to his cap after reaching a trade deal with the EU. The US will impose 15% tariffs on most European imports and the EU has agreed to spend hundreds of billions in investment in the US. The euro moved higher immediately after the deal was announced but has reversed directions.

28-07-2025 09:10 GMT by Kenneth Fisher

UK retail sales rebound, Pound dips

UK retail sales rebounded in June with a 0.9% gain, up from a dismal -2.8% in May. The BoE meets in August and will have to decide whether to cut or hold rates. There are cracks in the labor market but inflation heated up in June.

25-07-2025 12:40 GMT by Kenneth Fisher

Tokyo inflation lower than expected, yen extends losses

The Japanese yen has extended its losses on Friday. Tokyo Core CPI eased to 2.9% while the "core-core" rate remained unchanged at 3.1%. The BoJ meets next week and is expected to maintain interest rates.

25-07-2025 09:40 GMT by Kenneth Fisher

ECB holds rates as expected, Euro steady

As expected, the ECB held rates today for the first time in over a year. The central bank pointed to "exceptionally uncertain" economic conditions for its cautious decision. Still, investors expect at least one more rate cut before the end of the year.

24-07-2025 15:50 GMT by Kenneth Fisher

UK posts soft PMIs, retail sales expected to rebound, Pound edges lower

UK Services PMI weakened to 51.2 and the Manufacturing PMI improved to 48.2, which points to contraction. In the US, Services PMI heated up to 55.2, which indicates strong expansion. Manufacturing moved back into contraction territory as the PMI fell to 49.5. UK retail sales are expected to bounce back in June, after posting declines in May.

24-07-2025 15:05 GMT by Kenneth Fisher

Japan posts mixed PMIs, Tokyo inflation expected to rise

Japan posted mixed PMIs, as services continued to expand, while manufacturing reverted back to contraction. Tokyo Core CPI, which will be released on Friday, is expected to ease in July to 3.0%, down from 3.1% in June.

24-07-2025 10:15 GMT by Kenneth Fisher

Australian dollar hits eight-month high on risk-on mood

The Australian dollar is up 0.50% today, as the markets are in a risk-on mood following news that the US and Japan have hammered out a trade agreement. The deal includes 15% tariffs on Japanese imports into the US.

23-07-2025 14:15 GMT by Kenneth Fisher

Euro rally fizzles, ECB expected to hold rates

The ECB is expected to hold interest rates on Thursday. The ECB has cut rates for seven straight meetings but is concerned about the lack of clarity over President Trump's trade policy, with no agreement yet between the EU and the US.

23-07-2025 12:55 GMT by Kenneth Fisher

US and Japan reach trade deal, Ishiba set to resign, yen steady

Japanese Prime Minister Ishiba is expected to resign next month, as the fallout continues from Sunday's parliamentary election. The US and Japan announced they have reached a trade agreement, in which the US will impose a 15% tariff on Japanese goods.

23-07-2025 09:50 GMT by Kenneth Fisher

BOE's Bailey tells Reeves - hands off banking system

BoE Governor Bailey warned the UK government not to tamper with the banking system structure. Bailey was responding to criticism from Finance Minister Reeves, who has urged financial regulators to ease up on regulations in order to boost growth and investment.

22-07-2025 15:30 GMT by Kenneth Fisher

RBA minutes hawkish, Australian dollar steady

The RBA released the minutes of its July meeting, when it shocked the markets by holding rates and not cutting. The money markets widely expect the RBA to cut in August.

22-07-2025 14:10 GMT by Kenneth Fisher

BoJ sees little impact on policy due to election, yen dips

Japanese Prime Minister Ishiba has vowed to stay in power despite the election drubbing which saw the coalition lose its majority in parliament. A report that the election result will not affect BoJ policy pushed the yen lower.

22-07-2025 10:05 GMT by Kenneth Fisher

New Zealand CPI lower than expected, New Zealand dollar under pressure

New Zealand's CPI report was a mix. Annual CPI rose to 2.7% from 2.5, but quarterly, CPI eased to 0.6% from 0.9%. There is a strong chance that the RBNZ will lower rates at its Aug. 20 meeting.

21-07-2025 15:51 GMT by Kenneth Fisher

Japan's coalition loses majority, yen higher

Japan's ruling coalition suffered a major defeat, losing its majority in parliament. The result was not a surprise and the yen has strengthened on Monday. Prime Minister Ishida is clinging to power, which could hamper Japan's position as it tries to reach a trade deal with the US and avoid further tariffs.

21-07-2025 08:35 GMT by Kenneth Fisher

New Zealand dollar rebounds, CPI projected to rise

The New Zealand dollar is up sharply on Friday, after posting losses in four of the past trading days. New Zealand releases Q2 inflation on Monday, which is expected to rise to 2.8% y/y from 2.5%.

18-07-2025 13:00 GMT by Kenneth Fisher

Japan's core CPI cools as expected

Japan's headline and core CPI both eased to 3.3% in June. There are elections to the Upper House of Parliament on Sunday and the ruling coalition could lose its majority.

18-07-2025 09:50 GMT by Kenneth Fisher

UK employment,wage growth falls, US retail sales shine

In the UK, the labor market is showing cracks as payroll employees and wage growth fell, while the unemployment rate rose. US retail sales surprised on the upside, with a gain of 0.6%. This easily beat the consensus of 0.1% and follows two consecutive declines.

17-07-2025 15:10 GMT by Kenneth Fisher

US retail sales shine, Dollar-Yen jumps, Japan inflation expected to ease

US retail sales surprised on the upside, with a gain of 0.6%. This easily beat the consensus of 0.1% and follows two consecutive declines. USD/JPY has responded with gains. Japan releases inflation on Friday, with both CPI and headline CPI expected to ease in June.

17-07-2025 14:10 GMT by Kenneth Fisher

Australian dollar sinks on soft employment report, US retail sales loom

Australia's employment report was much softer than expected. Job growth barely grew and the unemployment rate rose for the first time in five months. The Australian dollar has responded with sharp losses and is down almost 1% today.

17-07-2025 11:00 GMT by Kenneth Fisher

UK inflation heats up, Pound shrugs

UK CPI and core CPI rose in June and were higher than expected. Still, the money markets widely expect a rate cut at the August meeting, as the UK economy is struggling and badly needs relief in the form of a rate cut.

16-07-2025 09:45 GMT by Kenneth Fisher

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