- The dollar has steadied after surging yesterday and has so far retained the lion's share of its gains, though it remains lower against most major currencies today.
- In a surprise development, China's State Council appeared to signal a shift in the PBOC's stance, suggesting that more monetary support may be provided.
- A new formal emergency has been declared in Tokyo, and it is expected to run through August 22 as covid cases reached a two-month high yesterday.
- The ECB is abandoning the tortured framing of its inflation target from "below but close to 2%" to simply 2%, according to reports ahead of the central bank's formal announcement.
- The FOMC minutes did not seem to provide new insight and the US reports weekly jobless claims today.
For further details see:
Capital Markets Remain Unhinged