KBC Market Research Desk
KBC Bank
European shares opened lower today as sanctions against Russia weighed on sentiment, but reversed part of their losses during the day, supported by strong US data. US Equities opened higher after Q2 GDP showed a bigger than expected rebound. l
The ECB’s Bank Lending survey showed today that for the first time since 2007, banks eased standards for loans to businesses and also demand for all types of loans to households and businesses continued to rise.
European Commission’s economic confidence improved slightly in July, rising from 102 to 102.2, while a marginal drop was expected. The details showed however a more mixed picture with weakening sentiment in the services sector.
Sweden’s economy grew by 0.2% Q/Q in the second quarter, less than the expected 0.6% Q/Q as demand from abroad remained poor. The Swedish crown weakened significantly today. In Belgium, economic growth slowed to 0.1% Q/Q in Q2, failing to meet market expectations which were looking for a 0.3% Q/Q growth rate.
Later today, the FOMC will announce its policy decisions.
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.
Recommended Content
Editors’ Picks
EUR/USD climbs to daily highs near 1.0770 on Dollar selling
EUR/USD manages to regain extra upside traction on the back of the renewed sell-off in the Greenback, reaching fresh daily highs in the 1.0770 region, or. two-day peaks.
GBP/USD hovers around 1.2500 post-BoE
GBP/USD alternates gains with losses around the 1.2500 neighbourhood amidst extra weakness in the Dollar, while market participants continue to digest the BoE event.
Gold poised to resume its advance
XAU/USD now gathers fresh steam and advances to the highest level in many sessions north of the $2,330 mark per troy ounce on the back of further selling pressure hurting the Greenback as well as mixed US yields.
Solana meme coins TREMP, BODEN rise after Donald Trump’s pro-crypto stance
Solana-based meme coins TREMP and BODEN post nearly 125% and 7% gains on Thursday. Former US President Donald Trump says his campaign will likely accept crypto donations.
Bank of England inches one step closer to a summer rate cut
The Bank of England is undoubtedly turning more optimistic, but it’s keeping its options open amid some uncertainty surrounding the near-term inflation numbers. We still narrowly expect the first rate cut in August.