• European shares failed to safeguard their opening gains and dropped further as US traders entered the fray. US Equities opened lower too in an uneventful session devoid of eco data or other news items.

  • US pending home sales dropped slightly in June, falling by 1.1% M/M, while a limited increase was expected. The breakdown indicates that sales were mixed across regions.

  • The Bank of Israel lowered today its benchmark interest rate by 25 basis points to 0.50%, saying inflation was low and the strong shekel was harming exports, while also the war in Gaza could weigh on economic growth. The shekel weakened slightly today.

  • Ireland’s central bank raised today its growth forecast for this year to 2.5% from 2%, citing better export growth. The government said the brighter picture means it can ease back on planned austerity measures this year.

This non-exhaustive information is based on short-term forecasts for expected developments on the financial markets. KBC Bank cannot guarantee that these forecasts will materialize and cannot be held liable in any way for direct or consequential loss arising from any use of this document or its content. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. Although information has been obtained from and is based upon sources KBC believes to be reliable, KBC does not guarantee the accuracy of this information, which may be incomplete or condensed. All opinions and estimates constitute a KBC judgment as of the data of the report and are subject to change without notice.

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