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The United States: Last month’s housing starts were stronger than expected, climbing above 2022 levels.
Australia: The labor market shows signs of sputtering, with unexpected job losses in July.
China: The renminbi hit the lowest level vs. USD since 2008 as Beijing tries to arrest the decline.
The rate differential with the US continues to widen, pressuring China’s currency.
Credit: The Bank Term Funding Program usage keeps rising, suggesting that some smaller US banks are facing funding headwinds.
Energy: US crude oil production hit the highest level since the COVID shock.
Food for Thought: Commodity costs as a share of battery prices:
Edited by William Villacis
Contact the Daily Shot Editor: Brief@DailyShotResearch.com
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