International Markets Update

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• Generally economic numbers from the United States were very upbeat. • In the housing sector, prices were seen 11.9% higher from a year ag.....

Executive Summary

• Generally economic numbers from the United States were very upbeat. • In the housing sector, prices were seen 11.9% higher from a year ago and oil demand was seen stronger overall for the month of July. An index of US leading indicators rose 0.6% suggesting a positive outlook for the next 6 months. • Retail sales in the Eurozone fell for the first time in three month. • GDP data in the bloc was more encouraging and showed that the Eurozone has emerged from an 18 month long recession. In the United Kingdom, BoE Governor Carney has given strong forward looking guidance that interest rates will not increase until unemployment improves to 7%, this comes amid improving manufacturing and services sector data. • India was plunged into financial turmoil. The Central Bank of Brazil raised its main interest rate. China’s exports and imports rebounded by more than estimated last month. Russian manufacturing unexpectedly shrank in July.

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International Markets Update

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