Barclays Warns U.S. Stock Rally May Be Detached From Fundamentals 
Asian Stocks Rally as Cooling US Inflation Boosts Fed Rate Outlook 
European Stocks Rise as U.S. Inflation Data Eases Fed Rate Hike Fears 
Gold Prices Retreat From Two-Month High as Softer Inflation Eases Fed Rate Hike Bets 
Oil Prices Steady as Strait of Hormuz Traffic Slows Amid US-Iran Conflict 
Gold Prices Rise as Weak US Data and Hormuz Risks Boost Safe-Haven Demand 
US Dollar Holds Firm as Fed Outlook and Iran Tensions Keep Markets on Edge 
Add as a preferred source on Google
The Eurozone periphery bonds remained flat Thursday after investors side-lined from any major trading activity and as they await the release of benchmark Germany’s consumer price-led inflation index (CPI), scheduled to be released on August 11 by 06:00GMT.
The benchmark German 10-year bond yields, which moves inversely to its price, hovered around 0.43 percent, the French 10-year bond yields nearly flat at 0.72 percent, Irish 10-year bond yields steady at 0.73 percent, Italian down nearly a basis point to 2.00 percent, Netherlands 10-year bond yields also flat at 0.55 percent, Portuguese equivalents fell nearly 1-1/2 basis points to 2.81 percent and the Spanish 10-year yields traded 1/2 basis point lower at 1.41 percent by 09:30GMT.
We have already seen the most noteworthy release from the euro area, with French IP data for June. Following a weaker than expected German report earlier this week, French figures also fell short of expectations with output declining 1.1 percent m/m. However, this followed a notable rise in May (1.9 percent m/m) to still leave output in the second quarter as a whole up 1.2 percent q/q, the joint-highest pace in four years.
And while the annual pace eased from the highest level since November 2015 of 3.1 percent y/y to 2.6 percent y/y, it remained at the top end of the recent range. With several surveys recently suggesting that manufacturers remain upbeat about conditions in July, a continued solid pace of industrial output growth in Q3 can be expected to be seen.
Meanwhile, the pan-European STOXX 600 index fell 0.59 percent to 377.58, German DAX slumped 0.68 percent to 12,071.00, France’s CAC 40 slipped 0.37 percent to 5,126.80 and the PSI20 Index traded 0.35 percent lower at 5,233.70 by 09:40 GMT, while at 09:00GMT, the FxWirePro's Hourly Euro Strength Index remained highly bearish at -112.79 (higher than +75 represents bullish trend). For more details, visit http://www.fxwirepro.com/currencyindex
FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest
