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Senior Economist at UOB Group Alvin Liew comments on the publication of Japanese Q2 GDP figures. Key Takeaways “Japan’s 2Q 2022 GDP missed market expectations, as it grew by 0.5% q/q, 2.2% q/q SAAR (versus Bloomberg est: 2.6% q/q SAAR, but in line with UOB est 2.2% q/q SAAR) while the -0.5% contraction in 1Q was revised to a surprising 0.1% expansion.
DXY extends the recovery and flirts with 107.00. Further up comes the weekly high around 107.40. DXY extends the rebound from recent lows and trades closer to the key barrier at the 107.00 zone on Tuesday. The continuation of the upside momentum could extend to the August high near the 107.00 yardstick (August 5).
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