Not too hot, not too cold
Perfect! That was markets’ reaction after the release of the US job report showing higher-than-expected job creation, enough to be reassuring on growth, but not…
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At the same time, the rebound of the USD reflects both this nervousness, but also the possibility that the anticipated tightening of ECB policy will be lighter than expected.
Japanese GDP growth was revised from +0.3% to +0.5% q/q in Q2. The economic calendar is still light today. The euro is trading below USD 1.184.