Market themes of the Day: UK Q2 GDP set to rise double the pace of the first quarter
|What you need to know before markets open
In Europe
- The Financial Times reported that the ECB is concerned about exposure of Eurozone banks including BBVA, UniCredit, BNP in Turkey.
In the UK
- Sterling fell to a 1-year low of 1.2841 against the US Dollar as No-Deal fear factor dominated the market before the report of the EU preparing Brexit concessions for the UK Prime Minister May.
- The UK manufacturing output is expected to increase by 0.3%m/m while rising 1.0% y/y in June.
- The UK Q2 GDP is expected to rise 0.4% Q/Q while increasing 1.3% y/y. For details read my Preview here and learn how to trade GDP with GBP/USD in Yohay's report here.
In the US
- The US core producers prices decelerated to 3.3% y/y in July from 3.4% in the previous month while core PPI slowed down to 2.6% y/y while 2.7% y/y.
- Initial jobless claims fell to 213K in the week ending July 30.
- Chicago Fed President Charles Evans sees one or two more rate hikes in 2018 as reasonable.
- While headline US inflation is expected to accelerate to 3.0% y/y in July, core inflation is set to remain unchanged at 2.3% y/y. For details read Yohay's Preview here and learn how to trade it with EUR/USD here.
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