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AUDUSD TECHS

Heavy!

BRAZIL

Precatorios Bill May Be Voted On This Thursday

FED

Chairman Powell

EURJPY TECHS

Resumes Its Downtrend

MNI, NEWS
MNI: GERMANY DATA: Flash GDP (Q2 2019) Preview - 07:00 BST 
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- Bbg Cons: -0.1% q/q (sa), 0.1% y/y (wda); Prev (Q1): 0.4% q/q, 0.7% y/y
- Markets look for a small quarterly contraction (-0.1%) in Q2 GDP, which would
mark a sharp turnaround from the 0.4% growth rate registered in Q1  
- While the unwinding of some temporary factors that bolstered growth in Q1
(e.g. weather-induced construction surge & boost to UK exports due to
Brexit-related stockpiling) will have been at play in Q2... 
- ... there is also a more fundamental slowdown underway 
- The slump in global trade has pushed Germany's manufacturing sector (which
accounts for 23% of total activity) into recession...
- ... and there are growing indications that this weakness is starting to filter
out into the rest of the economy  
- Moreover, the continued drop in sentiment indicators such as the Ifo business
climate index provides little hope for any significant improvement in the second
half of the year