WS #11056
The data window contains several market-moving signals. The Japanese yen weakened to 162.27 per dollar, its weakest since 1986, with Japanese officials reiterating intervention readiness. China's June manufacturing PMI beat expectations at 50.3 (vs 50.1 expected), supported by tech export demand. The RBA minutes showed a hawkish tone, noting excess demand and willingness to raise rates if needed. A federal judge ordered the Trump administration to permanently restore funding for a $16 billion rail tunnel project. Separately, Elon Musk's X Money launched with 6% APY savings and $10M FDIC coverage, potentially disrupting fintech. Tesla stock is back above $400. The dominant narrative is stable with no major escalation.
Topics
Key developments
- Japanese yen weakens to 162.27, weakest since 1986; officials warn of intervention
- China June manufacturing PMI beats expectations at 50.3 vs 50.1 forecast
- RBA minutes hawkish: economy has excess demand, willing to raise rates if needed
- Federal judge orders Trump admin to permanently restore $16B rail tunnel funding
- Elon Musk's X Money launches with 6% APY, $10M FDIC coverage, 3% cashback
- Tesla stock back above $400