According to analysts at Danske Bank, global economy still paints a mixed picture with strong economic data coming out of US and weak economic release from the European front.

Key Quotes

“While US data, including labour market and consumption data, have surprised markets on the upside in recent weeks, the cyclical position of Europe continues to be weak, especially in industry.”

“Similarly, GDP growth in China slowed to just 6.2% y/y in Q2, the weakest since the early 1990s, though some data points to looser monetary conditions starting to help the economy.”