U.S. Dollar Drops as Weak Jobs Data Boosts Fed Pause Bets, Yen Jumps on Intervention Talk 
Asian Stocks Rebound as Tech Shares Rally on Fed Rate Cut Hopes and Easing Iran Tensions 
Wall Street Ends Mixed as Weak Jobs Data Lowers Fed Rate Hike Bets, Chip Stocks Tumble 
Russia Stocks End Flat at Three-Year Low as MOEX Index Stalls, Gold Prices Climb 
Dollar Rebounds as Euro, Pound Slip Ahead of Fed Minutes, Yen Near Intervention Zone 
Goldman Sachs Says China Competition Weighs More on EU Growth Than Trade Deficit 
Mary Daly Says AI Uncertainty Clouds Fed Rate Outlook Despite Restrictive Policy 
US Stock Futures Rise as Investors Eye Fed Minutes, AI Stocks, and Q2 Earnings 
Brazil to Phase Out Gasoline Subsidy First as Diesel Support Stays Longer 
Asian Markets Slip as AI Earnings Season Looms, Oil Prices Fall Ahead of Key Fed Signals 
Denmark Central Bank Intervenes to Support Krone Peg Against Euro 
China Services PMI Beats Forecasts as Strong Demand Supports June Growth 
New Zealand Consumer Confidence Rises in June as Inflation Expectations Ease 
Japan Defense Stocks Rally on Report of New Defense Ministry Bureau for Global Cooperation 
Moody’s Says Peru’s President-Elect Keiko Fujimori Could Boost Investor Confidence 
Gold Price Surges Above $4,120 as Weak US Jobs Data Lowers Fed Rate Hike Expectations 
Oil Prices Slip as Oversupply Concerns and U.S.-Iran Talks Shape Market Outlook 
The International Monetary Fund (IMF) gave a better forecast for the global gross domestic product, expecting it to contract by 4.4 percent this year instead of a 5.2 percent it projected in June.
The IMF also sees a 5.2 percent recovery for 2021.
China’s better than expected return to growth contributed to the improved outlook. It is the only major economy forecast to grow this year, with GDP increasing 1.9 percent before an 8.2 percent surge in 2021.
The US will see a 4.3 percent contraction this year, and a 3.1 percent recovery in next year.
The Middle East and Central Asia are seen contracting by 5.7 percent this year before bouncing back to 3.2 percent in 2021.
The IMF warned that the recovery would be a long, uneven, and uncertain ascent, especially in some of the poorer countries, noting that infections are rising rapidly in some emerging markets and developing economies.
The IMF added that the resurgence of COVID-19 infections is threatening an economic recovery in areas where local transmission has been minimized.
Consequently, many economies are delaying reopenings and reinstating planned shutdowns.
The IMF pointed out that extensive stimulus packages implemented by almost all countries have kept the economic downturn of 2020 from worsening.
Nonetheless, the IMF expects all economies to suffer some “scarring” due to reduced activities, resulting in a sizable setback to living standards expected before the pandemic.
