Economy

US leading indicators turn down; Big Tech debt in focus; Canada inflation eases; China rates hold but cuts expected; some big countries have big currency issues; UST 10yr at 4.60%; gold dips; oil rises; AU$1 = 70 USc

China demographic shift shows up in schools; Singapore export growth stutters; US industrial production stalls; Aussie auction activity falls away; UST 10yr at 4.55%; gold firm; oil jumps; AU$1 = 69.8 USc

US data improves but economic expansion slows; Canadian wildfire crisis spreads; Singapore exports hesitate; China oil imports at decade low; UST 10yr at 4.55%; gold firms; oil jumps; AU$1 = 68.8 USc

The IMF sees lower demand for oil, more production, and inventory drawdowns all of which prevented a larger price spike. A quick supply recovery is essential to avoid further damage to the global economy they say

US PPI eases; US data 'moderate'; US crude stocks fall; Canada holds rates, sees brighter prospects; China data weak raising new stimulus bets; UST 10yr at 4.54%; gold stable; oil firms; AU$1 = 70.2 USc

US inflation eases but still well above Fed target; Singapore growth stays high; China exports jump; Aussie sentient less negative; UST 10yr at 4.57%; gold rises; oil eases on Trump's toll backdown; AU$1 = 69.7 USc

Eyes on US earnings reports; Waller turns hawkish; US deficit blows out; India inflation rises; China braces for storms; OPEC turns glum; UST 10yr at 4.61%; gold falls; oil rises on Strait closure & tolls; AU$1 = 69.2 USc

China car exports flood global markets; helium access a new chokepoint; Japan PPI high & rising; eyes on yen; US data languid; freight rates rise again; UST 10yr at 4.56%; gold rises; oil holds on Strait closure; AU$1 = 69.5 USc

US real economy data mixed; Wall St enamoured with SK Hynix; China car sales strong, exports stronger; Japan PPI high; container freight rates rise; UST 10yr at 4.56%; gold rises; oil eases; AU$1 = 69.5 USc

David Mahon finds Chinese development like crossing a river while feeling the stones. China's objectives on the far bank remain clear, but the water level is now higher, the current stronger, and the stones beneath harder to locate

IMF maintains global growth outlook; US consumer debt surprise; Fed eyes hikes if inflation stays up; Japan sentiment improves; Aussie rents jump; UST 10yr at 4.56%; gold drops; oil jumps; AU$1 = 69.3 USc

US data wavers as inflation expectations rise; dairy prices fall; Canada trade surplus higher; Japanese household spending rises; UST 10yr at 4.48%; gold down; oil up on new Hormuz threats; AU$1 = 69.4 USc

US services sector stable; Canada's dips but inflation elevated; a regional China bank collapses; China leads fintech patent race; Australian inflation expectations ease; UST 10yr at 4.48%; gold and oil stable; AU$1 = 69.5 USc

China service sector expands; Japan service sector positive but subdued; Vietnam growth high but not high enough; question over US growth; OPEC meets; UST 10yr at 4.49%; gold and oil stable; AU$1 = 69.4 USc

China service sector improves; ditto Japan; Korea's stock market on a wild ride; Vietnam rising & upgraded by the World Bank; global food prices ease; UST 10yr at 4.49%; gold rises and oil stable; AU$1 = 69.4 USc

US jobs report weak; US factory orders also weak, worse after adjusting for PPI; China carmakers in profit crisis; Australia reports rare trade deficit; UST 10yr at 4.48%; gold firm and oil stable; AU$1 = 69.2 USc

Eyes on US non-farm payrolls; US crude stocks fall again, reserves at 43 year low; USMCA not renewed; China PMI rises; Korean exports star; UST 10yr at 4.48%; gold firm and oil down even as Hormuz quiet; AU$1 = 69 USc

Cotality says its national HVI fell -0.4% in June. Capital city values dropped -1.3% in the quarter, led by Sydney (-3.2%) and Melbourne (-2.6%). Adelaide unchanged; Brisbane and Perth rose. Auction clearance rates fell below 50%

US data mixed; Canada grows; China marks time; German inflation eases; eyes on yen; Rocket Lab expands; air cargo activity declines; UST 10yr at 4.43%; gold holds and oil down even as Hormuz quiet; AU$1 = 69.2 USc

Japanese retail rises; South Korea all in on AI chipmaking; Singapore & Malaysia struggle with producer prices; global rural outlook looks good; air cargo activity expands; UST 10yr at 4.37%; gold dips and oil up; AU$1 = 68.9 USc

Tensions turn up in Persian Gulf; China industry profits rise; EU inflation expectations ease; BIS worried; US trade deficit swells; Aussie housing market cools; UST 10yr at 4.37%; gold up and oil firmish; AU$1 = 69 USc

Joseph Davis expects AI technology to resemble electricity, benefiting the users more than the providers

US data softens broadly; US tries to help Big Tech from paying taxes in any country; SpaceX delivers losses to investors; 'excessive pricing' tackled; UST 10yr at 4.37%; gold up and oil eases; AU$1 = 69 USc

US inflation rises as activity weakens, firms start to 'recover' AI costs, although there are some positive spots; container freight rates rise; UST 10yr at 4.39%; gold up and oil rises after ship attack; AU$1 = 69.2 USc