Latest data released by Markit/CIPS – 2 August 2021
The preliminary report can be found . No change to the initial estimate as staff shortages and a sharp rise in cost/price pressures (driven by supply chain disruptions) weigh on the growth momentum in the manufacturing sector last month.

Supply disruptions start to weigh on economic activity
The euro area has seen a rather resilient bounce in overall conditions in Q2 and things are still holding up in July as seen with the elevated PMI readings earlier.

GBPJPY upside looks promising
Up until this weeks meeting there had been two up beat central bank meetings from the Bank of England. It could have been anticipated that this would really have increased the odds of a hawkish twist from the BoE. Heading into the Bank of England meeting Sonia futures were pricing in a

China’s National Bureau of Statistics released the data on Saturday, the result for manufacturing is its lowest since February 2020 but still in expansion. 

Central banks 
Part 2 of the central bank rundown to follow tomorrow 
The central banks are listed below with their current state of play. The link for each central bank is included in the title of the bank and the next scheduled meeting is in the title too

Forex news for North American traders on July 30, 2021.
That key inflation data (a favorite of the Fed) came in better than expected with YoY inflation at 3.5% versus 3.7% expected.  The monthly increase also came in less than expectations at 0.4% vs 0.6% expected.  Phew!   

August seasonals highlight the risks
July was a volatile month where a bid in bonds eventually spooked the broader markets. Seasonally, August is a time to be worried about risk trades, with some of the strongest seasonal trends in the forex market.

Stocks close near session lows
Hurting the indices and market today was Amazon which fell -7.5% or $-269.94 after revenue shortfall and expectations towards lower revenue growth ahead. 

ISM data and jobs reports highlight the events next week
Monday will be the August 2nd and the start of a new month. That means the traditional ISM data, ADP employment, the US and Canada jobs reports. 

Forex news from the European trading session – 30 July 2021
Headlines:
Markets:
– EUR leads, AUD lags on the day
– European equities lower; S&P 500 futures down 0.6%