Following a highly volatile start to the week on financial markets last Monday, trade conditions improved slightly.
Trading conditions improved last week as a result of dovish remarks from Bank of Japan Deputy Governor Uchida and a relatively calm economic calendar on both sides of the Atlantic.
Furthermore, the main release of note, the US non-manufacturing ISM for July, printed ahead of the consensus, rising to 51.4 (vs. 51.0 f’cast). Elsewhere, there was a modest hardening in US market rate expectations last week.
In the coming week, data schedules in the UK and US will be extremely busy. The UK data calendar covers updates on the job market, inflation, and economic development. Meanwhile, in the United States, CPI inflation statistics for July will be closely watched. US retail sales and industrial output figures are also due.
For additional insights on how this could affect your business or to capitalise on market volatility – please reach out to speak to one of our experts.