Despite a solid H1, we maintain our 2025 growth forecast at 0.8%, as downside growth risks to activity may start to kick in ...

The US Dollar is giving away post-PPI gains, extending losses below 147.00. The market is still pricing a Fed cut in September, while Japanese GDP data has boosted hopes of BoJ tightening.

The country's GDP grew in the second quarter thanks to a rush of pre-tariff exports and a glut of international tourists.