{"id":1117861,"date":"2026-07-29T10:12:18","date_gmt":"2026-07-29T10:12:18","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/1117861\/"},"modified":"2026-07-29T10:12:18","modified_gmt":"2026-07-29T10:12:18","slug":"europe-summary-and-highlights-29-july","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/1117861\/","title":{"rendered":"Europe Summary and Highlights 29 July"},"content":{"rendered":"<p>Still waiting on an unusually uncertain Fed meeting, with large hedging over unchanged<\/p>\n<p>AUD\/USD remains lower, below 0.6950, after CPI; regional tech still weighed<\/p>\n<p><strong>Europe\u00a0<\/strong><\/p>\n<p>A further morning of largely waiting out the FOMC. There is unusual uncertainty into the latter (very unusual to have 30% hike odds rather than nearer zero or 100% &#8211; partly reflecting lack of guidance and partly reflecting division and uncertainty). This leaves the market waiting for what could be two-way reaction. EUR\/USD is back to sitting just off 1.14.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.europesays.com\/uk\/wp-content\/uploads\/2026\/07\/6a69cf2f442d4.png\" style=\"width:100%;\"\/><\/p>\n<p>Brent front month sits up around $3, breaking the recent downtrend on concerns over US-Saudi strikes on Iran-backed groups in Iraq, while Iran also rejects Oman\u2019s proposals for regional management of the Strait.\u00a0<\/p>\n<p>Tech stocks remain weighed (Kospi had another bad session, Nikkei still underperforming), very marginally leaning on USD\/JPY into month end, though reluctantly (-02%).\u00a0<\/p>\n<p>AUD\/USD around day lows following the Asia move, and has nudged back below 0.6950, dragged both by the regional tone but also with CPI coming in a little below expectations.<\/p>\n<p><strong>Asia Session<\/strong><\/p>\n<p>The Australian inflation picture is showing further moderation with June monthly at 3.8% y\/y, Q2 at 4%. The all important trimmed mean CPI arrived at 3.6%. It seems to suggest the inflationary pressure from energy was indeed fading, before the revival in July. \u00a0AUD\/USD is trading 0.34% lower at 0.6950. NZD\/USD is trading 0.07% higher while USD\/CAD slips 0.04% on higher oil. Axios report that Iran launched ballistic missiles towards a US base in Jordan and was swiftly confirmed by U.S. military, framing it as an attempted surprise attack from IRGC.<\/p>\n<p>Regional focus remains on Korea. After a 10% stop on KOSPI for Tuesday, the Wednesday situation is no better until the national team verbally step in. USD\/JPY received some haven bids to trade 0.19% lower while EUR\/USD and GBP\/USD are up 0.09%.<\/p>\n<p>\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Still waiting on an unusually uncertain Fed meeting, with large hedging over unchanged AUD\/USD remains lower, below 0.6950,&hellip;\n","protected":false},"author":2,"featured_media":1117862,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[5174],"tags":[2000,299,5187,304641,76368,219843,304640],"class_list":["post-1117861","post","type-post","status-publish","format-standard","has-post-thumbnail","category-eu","tag-eu","tag-europe","tag-european","tag-european-midday","tag-foreign-exchange","tag-fx-money-markets-now","tag-fx-highlights"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/117002734599113140","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1117861","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=1117861"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/1117861\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/1117862"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=1117861"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=1117861"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=1117861"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}