U.S. CPI, bank results loom; China deflation fears mount

Commodities Week Ahead: Taut Nerves in Oil, Gold Markets Ahead of CPI

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📚 Daily Digest  |  Monday, Jul 10, 2023     U.S. CPI, bank results loom; China deflation fears mount - what's moving markets   © Reuters. Investors gear up for fresh U.S. inflation data that could impact Federal Reserve policy decisions, while quarterly results from big banks are set to unofficially start second-quarter earnings season. Elsewhere, producer prices in China fall at their steepest pace since 2015 and consumer prices stand on the edge of deflation, casting doubt over the health of the economy. Read More     Today's Top News Stock Markets Alibaba, Tencent shares rise as investors bet China's tech crackdown is over Alibaba Group and Tencent shares rose in Hong Kong on Monday after China's $984 million fine against the Jack Ma-founded Ant Group appeared to signal the end of a regulatory crackdown on the country's technology sector. Stock Markets What people are saying about Ant Group's $984 million fine and share buyback China's Ant Group has announced a surprise share buyback that values the fintech giant at $78.5 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit. Commodities Oil eases ahead of China, US data, but OPEC+ cuts limits slide Oil prices dipped in Asian trade on Monday as investors tread cautiously ahead of fresh economic data from top consumers the United States and China this week, though expected crude supply cuts from Saudi Arabia and Russia limited losses. Currencies Dollar recovers a touch, inflation data boosts Norway's crown, hurts China's yuan The dollar regained ground on Monday, partly recovering from a knee-jerk reaction to Friday data showing U.S. job gains were the smallest in two-and-a-half years, while disappointing inflation figures in China weighed on the yuan and proxies. Economy Fresh spending showdown looms as U.S. Congress returns to Washington The Republican-controlled U.S. House of Representatives and the Democratic-led Senate this week will start to seek the upper hand in a spending showdown that could trigger a government shutdown just months after Congress narrowly avoided default. Read More News » Today's Top Analysis     Jul 10, 2023 by Barani Krishnan Commodities Week Ahead: Taut Nerves in Oil, Gold Markets Ahead of CPI   by Barani Krishnan  |   Jul 10, 2023   Jul 10, 2023 by Michael Kramer U.S. Stock Market's Bets on Lower Rates Go Up in Smoke   by Michael Kramer  |   Jul 10, 2023   Jul 10, 2023 by Declan Fallon S&P 500's Sell Signal, Nasdaq Edges Lower, Russell 2000 Bounces: What's Next?   by Declan Fallon  |   Jul 10, 2023   Jul 10, 2023 by Michele Schneider Retail Stocks: Next Move to Give Heads Up on Recession, Stagflation or Expansion   by Michele Schneider  |   Jul 10, 2023 Read More Analysis »

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