Key Global Events

Dollar slumps to 15-month low after inflation cooling indicators. The CPI index is at a two-year low. On July 26, the FOMC will meet regarding a decision on a possible interest rate hike. At the moment, the market is 92 % discounting a 25 basis point increase. In light of this data, Senator, Elizabeth Warren called on the FED to stop rate hikes.

Wall Street futures accelerate after the release of the unemployment claims and PPI data. Dow Jones +0.22%, S&P500 +0.40% and Nasdaq +0.75%.

European stock exchanges file profit within minutes of Wall Street opening. Milan's FTSE MIB +0.92%, Paris' CAC +0.80% Madrid's IBEX +0.53%, London's FTSE +0.47%.

Forex & Commodities

On the currency, the euro trades around $1.1166 (+0.34%), the pound trades at $1.3062 +0.58%. In commodities, oil trades hanging below $76 a barrel (-0.24%). Oil is set to close the week with a profit of over 5%. Gold trades at 1959 dollars an ounce (-0.10%).

Index

Positives in the U.S. also overpower weak macroeconomic data coming out of China, where exports fell 12.4 % in June year-on-year, worse than expectations for a 9.5 % contraction, suggesting that momentum in the country's post-pandemic recovery is slowing. Tokyo's benchmark Nikkei 225 index closes at +1.49%. China's Hang Seng index closes trading at 19,350 (+2.60%).

Global Macroeconomic Data 

USA - At 8 p.m. the Monthly Budget Statement will be released.