Wolf Money(world market review 3-9 Aug 2026)
Market Summary 3-9 Aug 2026
*USA*
-US labour market lost 23,000 jobs in Jul, vs estimate increase of 80,000, weakest reading since Feb; Jun’s gain cut to 20,000 from 57,000, May’s reading revised to 63,000 from 129,000; unemployment rate lower to 4.1% vs 4.2% in Jun
+ ISM PMI rose to 55.6 in Jul from 53.3 in Jun, highest since May 2022, factory hiring finally expanded after 33 straight mths
+ ISM Services PMI edged down slightly short of estimates at 54.1, new orders improved but hiring shrank again
+ US Composite PMI Output Index at 54.5 in Jul, vs 51.9 in Jun: S&P Global
± US wholesale inventories up 0.2% MoM in Jun reaching US$944.7bn
+ US job cuts down 27% MoM to 33,429 in Jul, down 46% YoY
± US initial jobless claims up 1000 to 199,000
+ US private payrolls rose 44,000 in Jul: ADP
+ US Q1 nonfarm business sector labour productivity rose 1.4% in Q2, labour costs rose 1.3%
-US has refunded about US$100bn in tariffs struck down by Supreme Court: filing
-US average rate on 30-year fixed mortgage rose to 6.69% to 1-year high
+ US-based employers announced 33,429 jobs cuts in Jul, the fewest in 2 years; tech sector cut the most followed by financial
+ S&P closes at record high supported by soft jobs reports eases rate hike concerns
-US sold Euros to support Yen, ECB notified after trade
± Trump touted US$3bn investments in critical minerals mining projects to counter China
-US imposed 15% tariff on products made from polysilicon, the raw mater used in semiconductors and solar panels
± Alphabet looks to raise up to US$25bn from latest bond sale: source
+ Berkshire Hathaway spent about $4.5bn on share buybacks during Q2
*SOUTH AMERICA*
+ Brazilian soybean industry expects historically high export volumes to China
+ Argentina renewed US$19bn currency swap line with China for 5 years despite US pressure
*CHINA*
± China RatingDog General manufacturing PMI at 50.9 in Jul vs 51.7 in Jun, at 4-mth low ; General Services PMI at 50.4 vs 54.1 in Jun, weakest level since Sept 2024
+ China’s trade surplus expanded to US$112.5bn in Jul, vs forecasts of US$107bn
+ China’s exports surged 23.9% YoY to US$397.85bn in Jul; imports rose 27.5% to US$285.35bn to 5-year high
+ China’s chip exports reached US$216bn in first 7 mths, up 99.5% YoY
-China hits back at US with sanctions, tightened controls on drone exports and imposed new sanctions on several US companies
+ Beijing eases homebuying rules for non-residents, cutting social insurance, income tax requirement to 1 year
+ SZ second-hand luxury home sales reached 6-year high in Jul
+ China starts concerting idle office buildings into affordable rentals
+ China’s foreign trade expands 17.3% in first 7 mths, reaching ¥30.13 trillion
+ China increasing its gold reserves in HK, aims to help the city to become major gold trading hub
-China’s price of key steel product dropped to lowest in almost a decade on construction slump
± China rare-earth cumulative exports reached 34,706.3 tons in first 7 mths, down 10% YoY
+ Sinopec ramped up purchases of Far East Russian oil to compensate for ME supplies affected by Iran war
+ China approved 8 new nuclear reactors worth US$24bn
+ China launched world's largest AI computing industrial park in Inner Mongolia, targets a capacity for 1m AI accelerators powered predominantly by direct renewable energy
+ China set to overtake US to be global leader in travel, tourism investment in next decade: WTTC
-China starts to enforce 20% personal income tax on gains from offshore insurance policies
+ Unitree price ¥61bn valuation in its Shanghai IPO, set to be country’s first mainland-listed maker of humanoid robots
± CXMT refused Apple’s demand for a price cut in negotiations
+ Luckin coffee opened >5000 new stores in H1, while competitors in domestic market continued to shrink
+ HK sees influx of white-collar professional expatriates return for low taxes and strong economic performance: Bloomberg
*EUROPE*
+ Eurozone Services PMI increased to 51.7, highest in 5 mths, vs 49.4 in Jun
-Germany’s Services PMI rose to 49.8 in Jul, vs 48.6 in Jun
+ Germany’s new factory orders up 3.1% MoM in Jun
+ Germany’s trade surplus at €15.4bn in Jun, vs revised €19.3bn in May, as imports rose more than exports
+ UK Services PMI rose to 52.1 in Jul from 48.8 in Jun, back to expansionary after 2 mths of contraction
-UK Lloyds House Price Index showed house prices rose 0.1% YoY in Jul, lowest since 2023
-France’s Services PMI increased to 49.8 in Jul vs 46.8 in Jun, strongest in 7 mths
-France jobless rate rose to 8.3% in Q2, highest level since Q3 2020
*ASIA*
+ Japan and US officially confirmed joint intervention to rescue yen; citing will not hesitate to conduct further joint intervention
+ Japan’s leading economic index stood at 116.4 in Jun at near 5-year high
+ Japan’s coincident economic index edged up to 118.2 in Jun, highest since May 2019
+ Japan conducted record single-day yen-buying intervention in forex markets in Apr, selling US$40bn worth of USD
± Japan’s forex reserves fell by US$0.38bn to 16-mth low of US$1.287 trillion end Jul
-Japan’s cabinet approved consumption tax cut plan, levy on food products will be lowered to 1% from 8%
-Iran seeks to ban US, Israeli ships from Hormuz
± Philippines’ GDP expanded 2.3% YoY in Q2, weakest since 2009 ex-Covid
+ Malaysia and China expanded bilateral local currency swap agreement for 5 yrs of up to RM120bn or 220bn Chinese yuan
+ Sg PMI edges up 0.1 pt from Jun to 51.4 in Jul, marks 12 straight mths of expansion
-US tariff affects S$9.5bn of domestic exports: DPM Gan
+ Sg retail sales up 4% in Jun, vs 2.9% growth in May
+ Sg grants approvals to import 900MW of Malaysian solar power
+ SGX reported record-full year earnings on growth across its businesses
+ Sg commercial real estate investment surged 238% to S$23.3bn in H1
*I WILL BE AWAY FOR 2 WEEKS, THERE WILL BE NO MARKET SUMMARY DURING THESE PERIOD*
Contribution by Derek@valueinvestments chat group. Thank you.
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