July 15, 2024 10:27 GMT
Summary – July 15
LATAM
- In Brazil on Monday, the BCB will publish its weekly Focus survey, followed by economic activity data for May. Peru May economic activity and June unemployment will also cross. In Colombia, May IP and retail sales are due, while BanRep will publish its latest economists survey. In the US, the Empire Survey is due, while Fed Chair Powell’s Rubenstein interview is firmly in focus for his last appearance before the FOMC blackout.
- US Dollar – News of the Trump assassination attempt and increased odds of a Trump win in November prompted a 0.15% gap higher for the USD index to start the week. However, a recovery for both equities and core fixed income has prompted the DXY to edge lower through the European session and track close to unchanged levels heading into the NY crossover.
- Global news:
- US – In an address from the Oval Office on Sunday, President Biden urged Americans to "lower the temperature in our politics" after the assassination attempt Trump on Saturday. "Disagreement is inevitable in American democracy. It's part of human nature," Biden said. "But politics must never be a literal battlefield. And, God forbid, a killing field."
- US – Former President Donald Trump called former UN Ambassador Nikki Haley, his onetime rival in the 2024 race, and asked her to attend the Republican National Convention in Milwaukee, Wisconsin, this week, according to people familiar with the matter. Trump’s outreach on Saturday is seen by those around him as an effort to unify the party.
- CHINA (MNI Beijing) – The 0.7% q/q rise in Chinese Q2 GDP was the weakest since Q2 2022, with the NBS saying that growth was impacted by extreme weather, adding to insufficient domestic demand and domestic circulation blockages. Looking ahead, however, China’s favourable conditions outweigh negatives, the NBS said, noting that physical indicators such as passenger volume and electricity consumption have grown rapidly, while manufacturing has transitioned towards high-quality development.
315 words