US Growth Resilience With Disinflation = Soft Landing?

The Economy

• The Fed’s July hike looks like the last in this cycle as disinflation broadens and deepens.
• Services drive Canadian GDP in May.
• Further loss of momentum in the UK economy.
• The ECB hikes again but opens the door to the idea that they might have done enough.
• The BoJ adjusts the YCC policy.
• Aussie inflation below expectations.

Spotlight On Next Week

• US unemployment rate seen unchanged as employment gains remain robust.
• The BoE likely to deliver another rate hike.
• Japan’s consumer confidence to jump.
• Consensus expects the RBA to hike, but we think it will hold.