Commodities

US September ISM manufacturing 50.9 vs 52.5 expected

• US September 2022 manufacturing PMI from ISM

Think of US inflation reports like a golf scorecard

• Par is +0.2% m/m

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US 10 year yield continues to step down

• Down 6 the last 8 trading days

Dollar softens a bit as Powell speaks

• Stocks get a bump

Preview - Canadian inflation data is due on Wednesday, 20 July 2022

You have two options

• Or why a recession isn't such a bad outcome

Taiwan:Chinese military action againstTaiwan would hit global trade much more than Russia

• Taiwan's top trade negotiator John Deng speaking

Fed's Mester:US jobs report was strong.Too early to say if jobs report changes rate policy

• Fed's Mester on CNBC

ISM nonmanufacturing PMI for May 55.9 vs. 56.4 estimate

• US ISM nonmanufacturing PMI for May 2022 data

Canada IPPI for March +4.0% versus +2.6% last month (revised from 3.1%)

• Canada IPPI and RPI indices for March 2022

USDJPY trades to highest level since May 2002. Near 20 year highs for the pair.

• All other highs have been broken

BOJ's Kuroda says did not discuss anything in particular on FX with PM Kishida

• Remarks by BOJ governor, Haruhiko Kuroda

US February durable goods orders -2.2% vs -0.5% expected

• US February durable goods orders data

Commodity currencies track the renewed fall in US stocks

• Nasdaq now down 2%