USD bounces after a string of losses, the MSCI All Nation World Index surged to a report excessive, and international bond yields are drifting larger, BBH’s FX analysts report.
World shares hit report as tariff talks advance
“Commerce deal optimism has turbocharged danger property. Yesterday, the media reported the US was closing in on an settlement with the EU that may set a 15% tariff for many merchandise. This could be down from the threatened 30% levy if each side fail to achieve an settlement by August 1.”
“USD can discover extra near-term assist if the US July S&P World PMI factors to quicker personal sector progress momentum (9:45am New York, 2:45pm London). The composite PMI is projected at 52.8 vs. 52.9 in June, providers is predicted at 53.0 vs. 52.9 in June, and manufacturing is seen at 52.7 vs. 52.9 in June. Nonetheless, the year-to-date USD downtrend is unbroken in our view.”
