China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Bernstein Names IAG, Ryanair as Top European Airline Stocks Ahead of Earnings 
Bank of America Upgrades T-Mobile to Buy, Says LEO Satellite Fears Are Overdone 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Morgan Stanley Names Marks & Spencer Top European Retail Pick, Sees Strong Upside 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Gold Prices Slip as Oil Rally Fuels Inflation Fears, Strengthens Dollar 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
The Canadian dollar weakened significantly after weaker-than-expected inflation data, with a notable drop in headline CPI to 1.6% influenced by falling gasoline prices. The inflation below the BOC target of 2% increased the chance of a 50 bpbs rate cut by the Bank of Canada at its October 23 meeting.
In contrast, the British pound found support from mixed labor market data, with the unemployment rate falling to 4%, while wage growth slowed. This situation presents a balanced outlook regarding a potential rate cut from the Bank of England (BoE) in November, with market attention now turning to the forthcoming UK CPI data.
Germany's ZEW Economic Sentiment index rose from 3.6 to 13.1 in October, exceeding expectations. Despite a drop in the Current Situation Index, optimism is driven by stable inflation, anticipated ECB rate cuts, and positive signals from key export markets, including China's economic stimulus measures.
Yesterday, the Canadian dollar was the weak performer followed by the Australian and New Zealand dollar. The uncertainty over Chinese policy and fresh stimulus package weighing on AUD and NZD.
