What Investors Are Thinking: The July Scan
(3 min read)
The worsening European picture and the Fed’s ‘hawkish’ cut dominated July. Weak European growth and inflation data saw the ECB pivot to dovishness (just as the Fed did in June), and Brexit fears saw the pound plummet. Meanwhile, the Fed delivered a cut, but was less dovish than many had thought. This was probably down to the improved US growth data over July. The China backdrop was more neutral...
TO READ THIS HIVE EXCLUSIVE SUBSCRIBE TO MACRO HIVE PRIME