Market comment - Fed’s Beige Book highlights tariff concerns

Davy Research
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US markets closed down on July 17th after a number of weak earnings releases. China trade deal worries continued and increasing concern over tariffs were highlighted in the Fed’s Beige Book. UK inflation data from the ONS showed CPI stable in June, while Eurozone inflation was up slightly. Sterling remained weak at 0.903 against the euro, giving up most of the gains it made early on Wednesday. UK retail sales data are due to be published today.