Headlines discussed at LNWM’s Monday morning briefing:
— New weekly US jobless claims fell to 360,000, a post-pandemic low; 13.8 million collecting some type of unemployment, about 9 million more vs. pre-pandemic.
— US consumer prices jumped 5.4% in June (vs. June 2020), with used car/truck prices causing a third of that; biggest increase since August 2008.
— The US and G-7 countries formally accused China of massive global cyber hacking, further escalating tensions with Beijing.
— The European Union proposed new regulations aimed at 55% cut in climate-warming emissions by 2030, including taxes on foreign firms.
—The US dollar had its best week in a month, on expectations that rebounding US economy will cause US interest rates to rise.
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