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According to the Eurostat agency's preliminary estimate, annual inflation in the eurozone decelerated to 5.5% from 6.1% at the end of June.

The USDJPY pair hit a 7-month high this week. The dollar was buoyed by comments from Fed chief Jerome Powell in which he stated that a majority of the regulator's representatives expect at least 2 more rate hikes before year's end.

The dollar is supported by positive statistics, with Durable Goods Orders, excluding defence goods, in the US rising by 3% in May and consumer confidence nearly reaching its 18-month high.

According to data released yesterday by the Bank of Canada, consumer prices in the country rose by 3.4% in May.

As S&P Global Ratings reports, the 2023 forecast for China's GDP growth rate has been downgraded from 5.5% to 5.2%.

According to the latest data, Germany's manufacturing PMI dropped to 41 instead of the forecasted 43.4.

This week has seen many hawkish statements from US Fed representatives.

According to data released yesterday from the UK's Office of National Statistics, consumer prices rose by 8.7% in annualised terms and by 0.7% compared to April.

According to data from CoinShares, money has been trickling out of crypto funds for the past nine weeks in a row.

The S&P500 index was up almost 2.5% on the week. The gains were largely attributable to a combination of a pause in the Fed's hawkish monetary policy and increased investor appetite for risk.