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Tuesday, August 6

6th Aug - Bounce, at least #4154


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EUROPE
Leonid Bershidsky: The EU More Popular? Don't Kid Yourself – BB
Support for the union is growing among voters, but not because the EU has done something right itself.

German economy shows glimmer of hope as factory orders jump – FT
Non-eurozone demand drives June’s increase, which came after stream of poor data

 
OTHER
Global value chain participation and exchange rate pass-through to export and import prices – ECB

  TRADE WAR
Trump Can’t Have It Both Ways on China Anymore – BB
Either the tariffs are costing China or they’re making the U.S. more competitive. 

Trump’s Trade Threats Won’t Bring a China Deal Closer – BB
Tariffs have been the wrong weapon from the start, and they’re not getting any more effective.

Good Will Is a Thing of the Past in the Trade War – BB
China has taken the gloves off by allowing its currency to weaken beyond a key leve to the dollar. 


REGULARS
Five Things to Start Your Day Asia – BB

Eco Day Asia – BB
Roach Eyes China Treasuries, Yuan Tagged, Fed Cut Risk * Yuan battlefront risks currency wars for world’s central banks * RBNZ poised to cut rates again, may signal more easing to come

Five Things to Start Your Day Europe – BB

EU Open Rundown – RANsquawk

FirstFT Daily Briefing – FT

Brussels Playbook – Politico
A Brexit carol — Asylum assumptions — Trade war

Danske Daily – Danske Bank
US Treasury officially labels China a currency manipulator and escalates the trade war further

Eco Day Europe – BB
China Slows Yuan Drop, Currency Wars, Next BOE Chief * Roach says Beijing could dump its $1.1 trillion of Treasuries * Former Fed chiefs make plea to Trump to end Powell threats

Daily Market Comment – Marc Chandler
Markets Stabilize with Help of CNY Fix in Muted Turnaround Tuesday

Five Things to Start Your Day US – BB

US Open Rundown – RANsquawk

Eco Day US – BB
China Fallout, Fed’s Trade War Reaction, German Woe * China takes steps to limit yuan weakness after U.S. labeling * Reluctant Fed likely to cut rates again amid trade tensions


FINNISH
Aamukatsaus – Nordea
Markkinoilla oli varsin synkkä maanantai kauppasodan jatkaessa laajentumistaan vauhdilla | Palvelusektorien indeksit tuottivat pääosin pettymyksen heinäkuussa | Kuinka pehmeäksi Saksan teollisuussektori on matkalla?