Market Update
China
- Manufacturing sector showing signs of stabilization
- Services sector growing
- Consumer spending strong
Japan
- Bank of Japan unlikely to cut rates
- Manufacturing sector getting worse
- Strong jobs market reducing risk of Japan falling into a recession
- Japan Car sales continue to fall
Europe
- Low interest rates create demand for new loans
- Manufacturing weakening
- Job market remains healthy
- limited wage growth holding back consumption
- Increasing chance of a Brexit deal before October 31th
United States
- US Fed most likely to cut Interest Rates again either in October or December
- US Jobs market remains strong
- Payrolls are high
- US Fed will create liquidity into market by expanding its balance sheet
Source: FXGM Investment Research Department / Bloomberg