📆 Thursday, July 13
► Global markets rise as the USD continues to normalize, falling to a 15-month low. Global risk sentiment has brightened significantly.
► European stocks continue to move higher, with Swiss watch companies Swatch Group and Watches of Switzerland Group reporting significant jumps thanks to a recover in demand from China
► Market reactions were still visible from Wednesday's US inflation data which showed a slide to 3% y-o-y, a two-year low, down from 4% in May. More important core inflation (4.8% y-o-y / 0.2% m-o-m) also came in lower than expectations (5.0% y-o-y / 0.3% m-o-m) and well below May levels. This eases concerns over higher interest rates and increases hopes of a soft landing or even no impending recession.
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