· Fed reiterated transitory nature of current inflation slowdown while nonfarm payrolls added 222k jobs in June

Highlights of the week:-

·         Fed reiterated transitory nature of current inflation slowdown while nonfarm payrolls added 222k jobs in June ·         Oil prices slumped following reports of higher production and increased OPEC oil exports ·         Policymakers discussed reducing its monetary policy stimulus in ECB minutes ·         Pound drops after industrial production declined unexpectedly ·         BoJ increased purchases of government bonds to keep 10-year yield around zero ·         Indonesia’s inflation accelerated to 15-month high in June while Thailand’s inflation fell for the second straight month ·         Malaysia’s PMI dropped to lowest reading on record while trade surplus narrowed in May