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Resilience through the shocks

Energy prices have declined faster than expected, supporting the global growth outlook, although the peace process in the Mittle East remain highly uncertain.
In the other direction, a firmer stance against inflation from the US central bank has led to a tightening of financial conditions.
New data and revisions paint a brighter economic picture in Denmark, Sweden and Finland, whereas the Norwegian economy is more stagnant.
The changing outlook for US monetary policy has supported the USD, while equity markets continue to be dominated by tech.

Danske Research Team Danske Bank A/S

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Danske Research Team

Danske Bank A/S

Research is part of Danske Bank Markets and operate as Danske Bank's research department. The department monitors financial markets and economic trends of relevance to Danske Bank Markets and its clients.

British Pound surges against US Dollar ahead of US NFP data

The British Pound trades 0.5% higher to near 1.3340 against the US Dollar during the European trading session on Thursday. The GBP/USD pair reflects strength as the US Dollar underperforms its peers ahead of the United States Nonfarm Payrolls data for June, which will be published at 12:30 GMT.

EUR/USD pops to multi-day highs near 1.1450 post-NFP

EUR/USD gains traction and clings to strong gains near the 1.1450 mark, reaching a fresh multi-day peak on Thursday, amid a marked correction in the US Dollar following the disappointing US employment data. Meanwhile, the pair remains on track to snap a two-day losing streak.

Gold climbs to fresh weekly high above $4,100 following US Payrolls

Gold maintains its bullish momentum on Thursday, surpassing the $4,100 per troy ounce mark and trading at its highest level in a week. The precious metal’s marked rebound comes on the back of the US Dollar’s retracement following the release of a softer-than-expected NFP report.

Crypto Today: Bitcoin, Ethereum, XRP steady rebound as US and Iran conclude positive talks in Doha

The cryptocurrency market broadly rises on Thursday, reflecting improvement in risk sentiment following an extended period of selling pressure. Bitcoin is back above $60,000 after testing support at $58,000 earlier in the week.

The market may no longer be giving the Magnificent Seven a free pass

For much of the past three years, investing has felt surprisingly simple. Whenever markets stumbled, investors knew where to look. Apple, Microsoft, Nvidia, Amazon, Alphabet, Meta and Tesla repeatedly led Wall Street higher, shrugging off inflation fears, higher interest rates and geopolitical shocks.

Kevin Warsh offers no policy clues: Why markets still got their answer

Financial markets came to Sintra looking for clues about the Federal Reserve's (Fed) next move. They largely left with confirmation that Fed Chair Kevin Warsh intends to make those clues much harder to find.

Resilience through the shocks

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