- World's most populous city Shanghai just registered highest
temperature of 40.9C (105 F) in recorded history.
- U.S. Housing starts rose for the first time in four months in
June, increasing 8.3% to an annual rate of 1.215 million.
- The euro zone's public deficit dropped in the first quarter
of the year to its lowest level in nearly a decade, driven by a widening
surplus in Germany.
- China has raised its 2017 annual GDP projection to 6.8% YoY
from 6.6 % previously.
- US and retail sales fell for a second straight month.
- U.S.
business inventories rose 0.3% after an unrevised 0.2% decrease in April.
- Sales
fell 0.2%, the biggest decline since July 2016, after being unchanged in April.
- U.S. Consumer prices were
unchanged in June.
- Chances of a U.S. rate hike
in December fell to 47% from 55%.
- All this points to tame inflation and subdued expectations
of strong economic growth in the second quarter.
- CAD derived extra support after the Bank of Canada raised
its overnight rate target by 25 bp to 0.75%.
- Drill, baby, drill. Baker Hughes says the worldwide rig
count for June was 2,041, up 106 from May and up 634 from June 2016
- U.S. Non-farm payrolls rose by 222,000 jobs last month,
driven by hefty gains in healthcare, government, restaurants and professional
and business services sectors, the Labor Department said on Friday. Beating
economists' expectations for a 179,000 increase.
- Department of Labor said that Average hourly earnings in the
U.S. rose to a seasonally adjusted 0.2%, from 0.1% in the preceding month whose
figure was revised down from 0.2%. Analysts had expected Average hourly
earnings to rise to 0.3% last month.
- German Industrial Production rose 1.2% vs. 0.3% forecast
- MoM Canada's PMI rose to 61.6 from 53.8.
- The Canadian unemployment rate fell to 6.5%, from 6.6% MoM.
- MoM U.K. industrial production fell to -0.1%, from 0.2%. Analysts
had expected U.K. industrial production to rise 0.4% last month.
- After a record 17.55 million units sold in 2016, the U.S.
auto industry has posted declining sales for the last four months, with high
consumer discounts and inventory levels posing concerns.
- Not much for the gold bulls to be excited about. Central
banks are not so accommodating anymore and inflation - so far - isn't an issue.
- The current Australian drought
may be responsible for a YoY plunge in wheat production of more than 40% -
smallest crop in a decade.
- Minneapolis wheat, a specific focus of grain market
attention since the drought began, is leading the way. Temperatures in the
northern plains spring wheat belt have seen temps above 100 and more heat may
be on the way.
