Market themes of the Day: Data weak Monday
|What you need to know before markets open
In Europe
- The fear of the economic downturn in Turkey roiled markets sending a shock wave of the risk-off sentiment as the ECB reportedly said it is concerned about exposure of the Eurozone banks including BBVA, UniCredit, BNP in Turkey.
- Turkey says it has the action plan to ease market concerns; lira firms from the record low.
- Italian CPI scheduled for Monday is unlikely to influence the markets.
In the UK
- The UK Q2 GDP rose 0.4% Q/Q while increasing 1.3% y/y, meeting the market forecast. For details read my Analysis here.
In the US
- While headline US inflation decelerated to 2.9% y/y in July, core inflation accelerated to 2.4% y/y. For details read Yohay's Analysis here.
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