Think Tuesday

Ranora Daily - Your daily source for reliable market analysis and news.

July 18, 2023

Market Data

Local

Global

*Data as of 6pm WAT

Market News

Local

Global

Weekly Investment Watchlist

Market Commentary

Asia and Australia

  • Seoul and Taipei are under pressure, and Australia is down as commodity prices fall. India touched fresh record highs before scaling back gains, Southeast Asia all lower although Thailand outperformed.

  • July RBA minutes noted board members debated whether to hold or hike the cash rate by 25 bp at this month's meeting. RBA saw a stronger case to hold given the rapid and considerable tightening to date

  • China Evergrande files FY results for two years showing $81B in losses

  • New Zealand inflation may slow as rate increases take a toll

  • South Korean household debt at second highest among major countries

  • RBI says India's fight against inflation is far from over

Europe, Middle East, Africa

  • ECB's Visco says inflation may drop more quickly than forecast

  • Swiss National Bank’s Moser says intends to issue a pilot CBDC by year-end

  • After food prices peaked in March, inflation fell to 14.9% in four weeks to 9 July, down from 16.5% in the previous month.

  • UK food and drink manufacturers cut prices for the first time since 2020

The Americas

  • JP Morgan's Kolanovic sees increased chance of soft landing; Goldman cuts US recession odds to 20%

  • BofA survey shows sentiment still bearish, but also flags soft-landing expectations and a better profit outlook

  • Big tech dominance forces US funds to limit buying amid diversification rules

  • Corporate debt woes starting to hit home; more companies are being downgraded to a junk

The Week Ahead:

  • Monday:

    • China's Gross Domestic Product

    • NY Empire State Manufacturing Index

  • Tuesday:

    • US Retail Sales

  • Wednesday:

    • UK Consumer price index

    • US Building Permits

  • Thursday:

    • China’s PBoC Interest Rate Decision

    • US Initial jobless claims

    • US Existing Home Sales Change

  • Friday:

    • UK GFK Consumer Confidence

    • UK Retail Sales

Investment Tip of The Day

Consider socially responsible investing If you value environmental or social impact, consider incorporating socially responsible investing (SRI) principles into your investment strategy. SRI focuses on investing in companies that align with your values and have positive social and environmental practices.

Meme of the Day

Disclaimer: The information contained in this report is intended for informational purposes only and should not be considered as investment advice. The information is obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed.