Dollar surges 💸 Stocks come back 🎢 US Jobs 📊 Fed officials 📢 EUR & GBP volatility ↗️

FlowBank's hand-curated fresh financial news [header_noDither] 07.07.2022 Good morning FlowBankers! Here's the latest market news, hand-curated by our research team. The Big Story [DXY 06.07] The US Dollar Index jumped 0.5% on Wednesday after US government bond yields surged due to strong economic data. Nonetheless, markets rose as commodities came down significantly, cooling inflation worries. The jobs report and inflation report next week will be key to validating the views of lower inflation. [Start Trading](113/cXx8Z04/VVB3b75y7ZVrW449bvY3fP7BdW1-ywb14Mb1KlN76MZ_33q3n_V1-WJV7CgZ7FW7tsyLH5KJnzbW6BhB3c7qVDRXN4XQ0NvTPyTlW2XHm1s15JpyZW2-yrW085hW2PW7vqnYf4yz-F2W5StMF05vlqT2W5wkrBr38sXM6N5_CWtR6rJ58W92rwMD8vCBXlVpCmNC8MKlVCW6VQDgc8fqqxqW916J9w8tjcsRW7Qz-3-3L9fjxV4wjCx1_NmN2N54f0LdVqzg5W59PkWD1ccqX1W6_yB2S8zYsLgW6mCrqM8tP8XlW1MKT3T7cX2x9N1hPFvhwx-_LN84KNhpQCM1kW8zj5Fb6rb6m_W7qhhWr3K6Q3GW64Z_9J8M-lKGW7RNhxj5lg5wy34r_1) Trader's Corner In focus • The US jobs report, together with Fed officials speaking later in the day, should continue to shape market expectations for the path of rising rates. • Speeches from ECB and BoE officials could drive sharp moves in the EUR and GBP, both under extreme pressure in the last few days. • The strong USD and higher US Treasury yields should retain investors' focus as it keeps pressure on stocks. Economic data • US Jobs, trade balance • ECB account of monetary policy meeting • German industrial production • UK house prices, labour productivity • US crude oil inventories • Japan household spending, current account Earnings • Seven & i holdings, Nomura, Industrivarden, Dios Fastigheter, Levi Strauss. Crypto • Crypto industry mogul Sam Bankman-Fried of FTX said his company still had enough cash for USD2 billion in deals if necessary to support embattled digital asset companies. He predicts the worst has passed. • Magic Square, a Web3 startup on a mission to build the most user-driven platform for crypto users and developers raised USD3 million at a USD30 million valuation led by Binance Labs and other VCs. [Capture-Jul-07-2022-05-16-40-33-AM] [Start Trading](113/cXx8Z04/VVB3b75y7ZVrW449bvY3fP7BdW1-ywb14Mb1KlN76MZ_33q3n_V1-WJV7CgJLJW2DvCTz50b5gCW8Rw7Xg66flNJW2KxtWf1lgcqWW7DP5hJ9cVw30W9k6sNH4PQWskW2SJzhg86-xzNW4tlrJj8TQDvnW9ltKLm2fG_7QW4K3TmY45MF5fN2SB0f8_VbQ0W2mzr1K2kjWMkW4xmRR_8xz7d6W4bL9qg6wF922VWx4_H1sv8fpV8TgNX1VGtQNW1vymYW7VN3Q5N3V5f-KvbSntW73PzTt21yh8dW1T1y4V5XgP7dW1ZNLvr2kCgMmW5tpsrj8gzRCzW7Z3Q5X2XWmlCW41kHvr2Gcgq1W8s6p9k2HYqpZVsdHT_81gfp6W21hFxB1mcwdR3prh1) Market Recap Market sentiment improved as stronger than expected US economic data reassured investors that the momentum of the economy is not as bad as feared. Nonetheless, surging US Treasury yields kept a tight lid on stocks. Investors are on the margin less fearful as volatility (VIX) dropped 2.9% to 26.7. Commodities fell with WTI closing at its lowest level since April at USD98.4, while copper, seen as a barometer of economic health, fell to its lowest since November 2020. The euro sank 0.8% against the dollar to 1.0180 as investors' concerns intensified. This morning, stock futures are in the green as sentiment continues to improve. Fears of high inflation and recession ease a little as oil steadies below USD100 and Samsung posted upbeat quarterly earnings. Chart Of The Day Stocks traded mixed while US bond yields rose following stronger than expected US ISM non-manufacturing and jobs data. The report showed that despite all the growth worries, the US economy was still quite resilient to inflationary shocks in June, but slowing down. [jolts-1](113/cXx8Z04/VVB3b75y7ZVrW449bvY3fP7BdW1-ywb14Mb1KlN76MZ-t3q3npV1-WJV7CgL-3VZs2CV64Wv7LW5yChM53kwD-8VP3NN75J3f_ZW8w_KFX3QMzjQW1zSXPP6jrthTN4qr0McnSczRW8Mfv1d55W4RbW8Zl6648fLHCyW3HGT_J6n9dBsW6RBnNB38vFv_W72BvLT1_L27vW1snKw28FHc1_W1W1HM53B87_jW8YmBQp8cgvMDW4hLlq93Nv4xtW4DjCh-90lKj1VyDS-s3Rm3pDN2vdbJ7ntF8XW6Mcw0k49nsMqW8rmtc02Z60F6W5410RZ8lZdygW5tGKzN7TlrrG3k3Q1) FlowBank Blog What is different about this crypto winter? [Buffett-Berkshire](113/cXx8Z04/VVB3b75y7ZVrW449bvY3fP7BdW1-ywb14Mb1KlN76MZ_33q3n_V1-WJV7Cg-GZW60fV4n92GjwQW64KDBz5DQVSfW4f5bKP23p7yKW477nxy4XYwhYW9cL5MB5Vm9PJW29gJ-T2pD6XmMKgLx1KKwRcW72Fz-G4FxSxqN89wSyVJ8WmdW92nTJS4rDLvpW7mPq4T1snpnGW3qSCvJ5pyslhVDJw7X3GvYNxW5z-ZQz87yVjcW4tnGDQ2fKx2cW2QsR1g6jpVj7W16hBp_8vMl_MW7kwmPN7vC79jW56p-nR73drySW7vBPHP4Pp7p6W8qdSln50tn6gVp2Q9M94l10sW3R0jnH47cw1NN56lq-r46NlqW9hLzcN1P9vYGW2TT5Y63t1-TW3bgk1) The recent top buys of one of the most successful investors could offer perspectives as the outlook is uncertain. And, could the Warren Buffett ‘formula’ help us step into his shoes, to attempt to highlight which companies are on discount? 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