According to marketwatch, oil futures extended their earlier losses Wednesday after the U.S. Energy Information Administration reported that domestic crude supplies fell by a less-than-expected 2.5 million barrels for the week ended July 8. The American Petroleum Institute late Tuesday had reported a 2.2 million-barrel climb, according to sources, while analysts polled by S&P Global Platts expected a decline of 3.25 million barrels. Gasoline supplies rose 1.2 million barrels, while distillate stockpiles jumped by 4.1 million barrels last week, according to the EIA. August crude CLQ6, -2.33% fell 92 cents, or 2%, from Tuesday's settlement to $45.88 a barrel on the New York Mercantile Exchange. Prices traded at $46.25 before the data.

The Bank of Canada announced that it is maintaining its target for the overnight rate at +0.50%.The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 percent.

Inflation in Canada is on track to return to 2 per cent in 2017 as the complex adjustment underway in Canada's economy proceeds. The fundamentals remain in place for a pickup in growth over the projection horizon, albeit in a climate of heightened uncertainty.

In this context, the forecast for the global economy has been marked down slightly from the Bank's April Monetary Policy Report (MPR). Global GDP growth is projected to be 2.9 per cent in 2016, 3.3 per cent in 2017, and 3.5 per cent in 2018. In particular, after a weak start to 2016 the US economy is showing signs of a rebound, with a healthy labour market and solid consumption growth. In the wake of Brexit, global markets have materially re-priced a number of asset classes. Financial conditions, already accommodative, have become even more so.

EUR/USD: 1.1000 (E419m), 1.1100 (E411m), 1.1120 (E302m), 1.1150 (E407m)

USD/JPY: 102.00 ($440m), 106.00 ($850m)

GBP/USD: 1.3100 (Gbp405m)

AUD/USD: 0.7350 (A$340m), 0.7375-80 (A$390m)

EUR/JPY: 112.50 (E260m)

EUR/GBP: 0.8200 (E292m)

Germany issued 10-year government bonds with a negative yield for the first time, on Wednesday, becoming the first euro area country to do so.

The coupon rate on the bond, known as the Bund, was zero percent. The German 10-year bonds are seen as the benchmark for European bond markets.

The country sold more than EUR 4 million at a yield of minus 0.05 percent at the auction, the Bundesbank said.

The sale reflects investors' willingness to own safe-haven debt amid the lingering concerns over the "Brexit" negotiations.

Negative rate imply investors holding the Bund will receive less than what they paid when the debt matures. In the current volatile environment, investors are increasingly willing to settle for lower return.

U.S. import prices rose 0.2 percent in June, after rising 1.4 percent in May, the U.S. Bureau of Labor Statistics reported today. The June advance was driven by higher fuel prices which more than offset a decline in nonfuel prices. Prices for U.S. exports also increased in June, rising 0.8 percent following
advances of 1.2 percent in May and 0.4 percent in April.

The following data was published:

(Time / country / index / period / previous value / forecast)

7:00 China Trade balance, bn June 49.98 46.64 46.56

9:00 Eurozone Industrial Production m / m in May 1.4% -0.8% -1.2%

9:00 Eurozone Industrial Production y / y in May 2.2% 1.4% 0.5%

The euro rose moderately against the dollar, recovering from declines in the first half of the session. Support for euro was the renewed investor demand for risky assets. In addition, the euro followed by the British pound, which is the main topic of traders on the eve of the scheduled for Thursday monetary policy meeting.

Eurostat Statistical Office reported a seasonally adjusted volume of industrial production in the euro area fell in May by 1.2% after rising 1.4% in the previous month. Experts predicted a decrease of 0.8%. Among the EU countries, industrial production decreased by 1.1% after rising 1.5% in April. On an annual basis, industrial production increased by 0.5% in the euro area and by 1.1% in the EU. It was expected that production in the euro zone will grow by 1.4% after rising 2.2% in April. Among the Member States, the largest decline in industrial production was recorded in the Netherlands (-7.8%), Portugal (-4.4%), Greece (-4.3%) and Romania (-4.0%). The increase was recorded in Lithuania (+ 3.9%), Latvia (+ 2.4%), Slovenia (+ 0.6%) and Malta (+ 0.3%).

The pound traded mixed against the dollar, while remaining a relative tight range. The positive impact for the currency was a decrease in uncertainty around Brexit influenced by recent changes in the UK Government. Meanwhile, against the backdrop of the lack of British data the pair is focused on the dynamics of stock markets and the overall mood of the players.

Investors are also waiting for the meeting of the Bank of England, which is scheduled for tomorrow. After the referendum, the head of the Central Bank Carney considering the possibility of easing monetary policy. It is likely that steps will be taken at the upcoming meeting. It is expected that the Central Bank to lower interest rates 0.25% for the first time since March 2009.

The yen fell against the dollar, returning to the opening levels. Earlier today, the yen strengthened after Japan Esihide Suga denied media reports that Prime Minister Abe is considering "helicopter money" (direct purchases of government bonds by the Central Bank to finance government spending or tax cuts). In addition, he said that the government plans to carry out large-scale stimulus measures in order to overcome deflation.

A certain pressure on the yen has had a dramatic revision of the forecasts for GDP growth and inflation by the Government of Japan. Explaining this decision, the Government pointed to the increase in uncertainty about the global economy, weak domestic consumption and sluggish investment. Now it is expected that in the current fiscal year which ends March 30, GDP growth adjusted for inflation will be 0.9%. Earlier this year, GDP growth is expected at 1.7%. The forecast for inflation was reduced to 0.4% versus 1.2% previously. The Government also stated that in 2017 forecasts GDP growth of 1.2% and a rise in inflation to 1.4%.

EUR / USD: during the European session, the pair has risen to $ 1.1080

GBP / USD: during the European session, the pair is trading in the $ 1.3219- $ 1.3330 range

USD / JPY: during the European session, the pair rose to Y104.85

EUR/USD

Offers 1.1075-80 1.1100 1.1130 1.1150 1.1170 1.1185 1.1200

Bids 1.1030 1.1000 1.0975-80 1.0950 1.0930 1.0900

GBP/USD

Offers 1.3280 1.3300 1.3320 1.3350 1.3375 1.3400 1.3420-25 1.3450 1.3480 1.3500

Bids 1.3220-25 1.3200 1.3185 1.3150 1.3130 1.3100 1.3080 1.3050 1.3030-35 1.3000

EUR/GBP

Offers 0.8380 0.8400 0.8420 0.8450 0.8485 0.8500

Bids 0.8300 0.8285 0.8250 0..8230 0.8200 0.8150

EUR/JPY

Offers 115.50 115.80 116.00 116.30 116.50

Bids 115.00 114.85 114.50 114.20 114.00 113.80-85 113.50 113.00

USD/JPY

Offers 104.50 104.85 105.00 105.30 105.50

Bids 104.00 103.80 103.50 103.30 103.00 102.80 102.40-50 102.20 102.00

AUD/USD

Offers 0.7630 0.7650 0.7670 0.7700 0.7720 0.7750-55

Bids 0.7575-80 0.7555-60 0.7540 0.7520 0.7500 0.7480 0.7450-55 0.7425 0.7400

The trend inflation in RF slowed to 9% compared to 9.3% in May according to Bank of Russia.

The trend inflation largely reflects the dynamics of core inflation.

"If present trends continue dynamics of prices and monetary aggregates, we expect a further gradual decline in inflation trend estimates", - stated in the comments of the Central Bank.

At the same time, the risks of deviations of inflation from the target at the end of 2017 remain. The trend inflation remains at a high level and decreases slowly, said the Bank of Russia.

The regulator started to publish an assessment of the trend of inflation in June 2015 According to the CBR, the assessment of the trend in inflation can be viewed as a long-term component of inflation and can serve as a reliable benchmark with respect to the implementation of monetary policy in comparison with the more volatile actual rate of inflation.

The indicator of the trend of inflation is taken into account by the Bank of Russia in making key interest rate decisions.

European stocks traded in the green zone for a fifth straight session, continuing to recover from the collapse caused by the British referendum results. Positive impact on the market had the financial statements of companies in the region, as well as the reduction of political uncertainty in the UK.

As previously reported, the new leader of the ruling party in Britain was the current head of the Ministry of Internal Affairs Theresa May, which will replace David Cameron as prime minister. Cameron stressed that the new prime minister is ready to provide full support. Recall, May advocated the preservation of the country within the EU, Earlier policies gained the support of more than half of the total number of representatives of the Conservative Party in the Parliament.

A slight pressure on the indices after the euro area economic data. Eurostat Statistical Office reported the seasonally adjusted volume of industrial production in the euro area fell in May by 1.2% after rising 1.4% in the previous month. Experts predicted a decrease of 0.8%. Among the EU countries, industrial production decreased by 1.1% after rising 1.5% in April. On an annual basis, industrial production increased by 0.5% in the euro area and by 1.1% in the EU. It was expected that production in the euro zone will grow by 1.4% after rising 2.2% in April. Among the Member States, the largest decline in industrial production was recorded in the Netherlands (-7.8%), Portugal (-4.4%), Greece (-4.3%) and Romania (-4.0%). A increase was recorded in Lithuania (+ 3.9%), Latvia (+ 2.4%), Slovenia (+ 0.6%) and Malta (+ 0.3%).

The composite index of the largest companies in the region Stoxx Europe 600 up 0.3 percent. Over the last four sessions of the index rose by about 5.5 percent.

"There is still a lot of uncertainty about what will happen to UK and how quickly these negotiations will unfold. But at the moment anxiety decreased and orporate reporting is very important to o convince investors that there is a space for the growth of shares of European companies - said Benno Galiker trader Luzerner Kantonalbank.

Burberry Group Plc shares rose 2.2 percent after the company reported that in the first quarter sales exceeded analysts' forecasts.

Shares of mining companies also traded in positive territory - Antofagasta Plc quotes and ArcelorMittal rose at least 2.7 percent.

Quotes Playtech Plc rose 4.6 percent against the backdrop of the Best Gaming Technology GmbH acquisitions for 138 million. Euro.

Shares of Italian lenders decreases after rising 20 percent in the past four days. Shares of UBI Banca SpA and Banco Popolare SC fell more than 3.4 percent.

At the moment:

FTSE100 6,693.35 +12.66 + 0.19%

CAC40 4,349.98 +18.60 + 0.43%

DAX 9,975.56 +11.49 + 0.12%

U.K. lenders expect the demand for secured credit from households to decline in near term, the Credit Conditions Survey from the Bank of England showed Wednesday.

Secured credit availability to households tightened slightly in three months to June. Lenders expected the availability to be little changed in the near term but the demand for secured credit to fall.

Respondents to the survey suggested that both the supply of and demand for unsecured credit continued to rise in the three months to mid-June.

Both cost and availability of credit to companies of all sizes was unchanged in the three months ahead of the EU referendum.

Lenders expect the availability of credit to the corporate sector to remain steady and the demand to fall back in the near term.

We expect that in the course of today's meeting the Bank of Canada will leave unchanged its benchmark interest rate - at 0.5% in the accompanying statement, the Central Bank is likely to indicate that is monitoring the situation on global markets after Brexit and evaluate potential impact of this event on the Canadian economy. We believe that the Bank of Canada will keep unchanged its monetary policy at the moment, in spite of the increase in global risk aversion and a weakening outlook for global growth after the referendum in the UK. The Bank of Canada is likely to lower the growth forecast for the world economy after the shock of Brexit and slightly worsen its domestic growth forecast. The revised forecasts should also include the effects of forest fires in the Fort McMurray, which is expected to take away around 1.25 .% of the GDP growth in. Q2 Particular attention will be paid to the assessment of risks to inflation and expected growth, given the still low commodity prices - said Barclays.

"Reliable long-term fiscal consolidation strategy remains a key factor for the sovereign rating of Australia, - noted Fitch's. It remains to be seen whether the financial outlook was changed due to a new balance of power in parliament."

"The lack of a strong electoral mandate can also exacerbate internal politics within the major parties and act as an additional source of political uncertainty. Potential internal political constraints on policy occur at a time when the economy is facing heightened risks."

- Japanese government lowered fiscal 2016 CPI estimate to +0.4% from +1.2%.

- government expects fiscal 2017 CPI at 1.4%.

- cuts fiscal 2016 GDP to +0.9% from +1.7% previous.

D/W

Bernie Sanders officially supported Hillary Clinton

Bernie Sanders officially supported the candidacy of Hillary Clinton in her fight for the presidency. "I hope to do everything in my power to make sure that it will be the next president of the United States," - said the 74-year-old senator from Vermont.

EC has supported sanctions against Spain and Portugal

For the first time in the history of the EU, euro zone finance ministers supported the imposition of sanctions against EU Member States due to insufficient efforts to reduce the budget deficit. The efforts of Spain and Portugal, according to a statement released on Tuesday, 12 of July, significantly lower than those which had to be taken.

newspaper. ru

China Wanda Group buys European cinema chain for $ 1.2 billion

AMC Entertainment American cinema chain has signed an agreement to acquire the European network of Odeon & UCI in the investment fund Terra Firma for $ 1.2 billion, reports "Xinhua".

Ireland's GDP grew by more than 26%

Ireland Central Statistics Office revised its estimate of growth in GDP, resulting in a figure increased by almost three times. The increase is due to the transfer to Ireland headquarters of major international companies. Evaluation revised 7.8% GDP growth in 2015 to 26.3% of GDP, while both indicators are the best in Europe.

Spain hopes for "zero" sanctions from EU

Acting Minister of Economy Luis de Guindos said at a press conference that the authorities are planning to implement tax reform to reduce the budget deficit and avoid sanctions.

OPEC raised its forecast for oil production in Russia

Organization of Petroleum Exporting Countries (OPEC) in its June report raised the forecast for the level of oil production in Russia by 10 thousand barrels per day to 10.98 million barrels per day, which is higher than in 2015 by 140 thousand barrels.

RBC

Mercedes overtaken BMW in the number of cars sold

Mercedes-Benz in the first half of the year overtaken BMW in the number of cars sold. The company's goal - by 2020 to regain leadership in the segment of luxury cars, lost 11 years ago.

OPEC called Brexit risk for world oil demand

The exit of the UK from the EU after the referendum is a risk to the global economy and growth in demand for oil in Europe, OPEC said in its monthly report published on Tuesday.

In May 2016 compared with April 2016, seasonally adjusted industrial production fell by 1.2% in the euro area (EA19) and by 1.1% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In April 2016 industrial production rose by 1.4% in the euro area and by 1.5% in the EU28. In May 2016 compared with May 2015, industrial production increased by 0.5% in the euro area and by 1.1% in the EU28.

The decrease of 1.2% in industrial production in the euro area in May 2016, compared with April 2016, is due to production of energy falling by 4.3%, capital goods by 2.3%, durable consumer goods by 1.4%, intermediate goods by 0.4% and non-durable consumer goods by 0.1%.

In the EU28, the decrease of 1.1% is due to production of energy falling by 3.3%, capital goods by 2.0%, durable consumer goods by 0.7%, intermediate goods by 0.5% and non-durable consumer goods by 0.3%. Among Member States for which data are available, the largest decreases in industrial production were registered in the Netherlands (-7.8%), Portugal (-4.4%), Greece (-4.3%) and Romania (-4.0%), while increases were recorded in Lithuania (+3.9%), Latvia (+2.4%), Slovenia (+0.6%) and Malta (+0.3%).

EUR/USD 1.0950 (EUR 718m) 1.1000 (941m) 1.1050 (1.2bln) 1.1075 (372m)

USD/JPY 102.00 (USD 855m)

GBP/USD 1.3300 (GBP 554m)

USD/CAD 1.3100 (USD 320m)

NZD/USD 0.7090 (NZD 200m) 0.7275 (200m)

Spain's consumer prices declined as estimated in June, final data from the statistical office INE showed Wednesday.

Consumer prices dropped 0.8 percent year-on-year in June, slower than the 1 percent decline seen in May. Inflation has remained negative for the sixth consecutive month in June.

Month-on-month, consumer prices moved up 0.5 percent, the same pace of decrease as seen in May.

The harmonized index of consumer prices decreased 0.9 percent annually, following a 1.1 percent drop in May. Prices have been falling since August 2015.

On a monthly basis, consumer prices gained 0.4 percent.

The statistical office confirmed CPI and HICP figures released on June 29.

China's yuan-denominated exports rose modestly from a year ago in June while imports fell slightly, data showed Wednesday. Exports rose 1.3 percent from a year ago while imports declined 2.3 percent, according to Reuters, which cited customs data. China's yuan-denominated exports had risen 1.2 percent on-year in May, while imports had climbed 5.1 percent, figures showed last month. Dollar-denominated trade figures are expected shortly.

At 08:30 GMT, Britain will publish a report on lending conditions

At 09:30 GMT Germany will hold an auction of 10-year bonds

At 10:00 GMT FOMC members Patrick T. Harker will deliver a speech

At 14:00 GMT Bank of Canada publish the report on monetary policy for the 3rd quarter, the Bank of Canada decision on the basic interest rate and the accompanying statement.

At 15:15 GMT Press conference of Bank of Canada

At 17:01 GMT the United States will hold an auction for 30-year bonds

At 18:00 GMT Economic Review Federal Reserve "Beige Book"

In June 2016, the Consumer Prices Index (CPI) rose by 0.1% over a month after +0.4% in May. Seasonally adjusted, it increased also by 0.1%. Year-on-year, the CPI increased by 0.2%, after a stability in May 2016.

This month-on-month increase in June came mainly from the strengthening of petroleum product prices for the fourth month in a row, and from the seasonal rebound in prices of some services at the edge of summer. It was partly offset by the seasonal decline in fresh food and manufactured product prices, with the beginning of summer sales.

In June 2016, energy prices rose as strongly as in the previous month (+2.2%). Year-on-year, they declined by 3.1% (-5.7% in the previous month). The increase over the month was due to petroleum product prices which were still up sharply (+4.0% after + 4.1% in May; -6.1% year-on-year), as a result of the recovery of crude oil prices since the beginning of the year. In detail, the heat fuel prices continued to rise at a fast pace (+5.9% % in June after +8.5%; -11.2% year-on-year). In comparison, the motor fuel price increases were more limited: diesel increased by 4.7% in June (after +4.4% in May; -4.7% year-on-year) and gasoline by 2.6% (after +2.4%; -6.2% year-on-year). Moreover, gas prices were stable in June (-10.0% year-on-year), like electricity fares (+4.1% year-on-year).

EUR/USD

Resistance levels (open interest**, contracts)

$1.1258 (3016)

$1.1226 (1513)

$1.1177 (1650)

Price at time of writing this review: $1.1063

Support levels (open interest**, contracts):

$1.0996 (2964)

$1.0938 (3148)

$1.0865 (7061)

Comments:

- Overall open interest on the CALL options with the expiration date August, 5 is 30234 contracts, with the maximum number of contracts with strike price $1,1200 (3016);

- Overall open interest on the PUT options with the expiration date August, 5 is 45143 contracts, with the maximum number of contracts with strike price $1,0900 (7061);

- The ratio of PUT/CALL was 1.49 versus 1.53 from the previous trading day according to data from July, 12

GBP/USD

Resistance levels (open interest**, contracts)

$1.3607 (1163)

$1.3510 (888)

$1.3414 (1888)

Price at time of writing this review: $1.3284

Support levels (open interest**, contracts):

$1.3184 (228)

$1.3088 (178)

$1.2991 (690)

Comments:

- Overall open interest on the CALL options with the expiration date August, 5 is 20814 contracts, with the maximum number of contracts with strike price $1,3400 (1888);

- Overall open interest on the PUT options with the expiration date August, 5 is 18315 contracts, with the maximum number of contracts with strike price $1,2950 (2440);

- The ratio of PUT/CALL was 0.88 versus 0.98 from the previous trading day according to data from July, 12

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

The US dollar fell against the yen during the Asian session, as investors took profits after recent gains. In addition, Suga said that the government plans to carry out large-scale stimulus measures in order to overcome deflation and that the BOJ will decide what measures of monetary policy are appropriate. Prime Minister Shinzo Abe plans to lower GDP growth forecast for the fiscal year ending March 2017 to 0.9% from 1.7%. The previous forecast was published in January. Abe Administration is likely to present a forecast assuming GDP growth next year at 1.2%.

According to final data released today by the Ministry of Economy, Trade and Industry of Japan, industrial production fell by 2.6% after a decline recorded in April to -2.3% in May. The annualized figure also shows a decline from 0.1% in April to -0.4% in May

Industrial production - an indicator that reflects the volume of production plants, factories and mining companies of Japan has attracted attention because it is the main indicator of the strength and health of the manufacturing sector. Japanese Ministry of Economy, Trade and Industry also reported that capacity utilization decreased by 2.4% in May after declining in April at -0.1%.

The euro is trading almost unchanged against the dollar, although the market is dominated by the desire of investors to take risks. The US dollar has stopped falling against other major currencies, as investors continue to focus on the upcoming meetings of the central bank on a background of high expectations of additional stimulus.

Investors expect the Bank of England, Bank of Japan and European Central Bank to announce new stimulus measures in the coming months. They intend to support growth and protect its economy from the effects of Brexit.

Market participants also believe that Brexit makes it unlikely that the Fed will tighten policy this year.

Federal Reserve Bank of Cleveland President Loretta Mester said that the results of the referendum in the UK have increased the uncertainty of the economic outlook. At the same time, she said, he US central bank have the opportunity to quietly take a decision on the future of interest rates.

The Canadian dollar during the session, cheaper after yesterday's growth, which contributed to the rise in oil prices. Oil has risen after the publication of forecasts of a stronger-than-expected reduction in oil production this year. Oil prices on the NYMEX rose about 4.5%, to $ 46.77 a barrel.

Investors are awaiting the outcome of today's meeting of the Bank of Canada's interest rate and publish a quarterly report on monetary policy, which will be published after the meeting.

Economists expect the central bank will leave rates unchanged at 0.5%. However, the market will be closely watching the performance of the Bank of Canada Stephen Poloz, special attention will be paid to the forecast for Canadian GDP this year after a slowdown in economic growth in the 2nd quarter.

GBP: All eyes on the Bank of England Thursday where consensus looks for a cut, with most seeing it at 25bp. Squeeze offers good levels for adding shorts.

EUR: Investors expecting a market friendly response to recent turmoil in Italian banks (i.e. state bailout). Otherwise, anticipation of next week's ECB likely to dominate given absence of meaningful data. We prefer the short side in EUR-X's

AUD: Employment figures watched Thursday, but most likely to simply reinforce strong trend. We continue to see AUD as well placed vs. NZD and CAD.

Food prices in New Zealand added 0.4 percent on month in June, Statistics New Zealand said on Wednesday - after sliding 0.5 percent in May.

Fruit and vegetable prices rose 4.2 percent on month, while meat, poultry, and fish prices fell 0.2 percent with lower prices for lamb.

Vegetable prices rose 8.4 percent in June, led by seasonally higher prices for cucumbers, capsicums, and lettuce.

Grocery food prices fell 0.7 percent, with lower prices for milk, cheese, and eggs.

On a yearly basis, food prices fell 0.5 percent after slipping 0.3 percent in the previous month.

Compared with June 2015, cheese prices were down 9.5 percent, fresh milk was down 3.9 percent, and yoghurt was down 9.2 percent.

"The average price of a kilo of cheddar cheese was $7.68 in June 2016, down from $9.12 in June 2015. This was the lowest price since September 2007," consumer prices manager Matt Haigh said.

Meat, poultry, and fish prices decreased 0.9 percent in the year. Lower prices for chicken (down 5.3 percent), processed meat (down 2.9 percent), and lamb (down 5.2 percent) were partly offset by higher prices for beef (up 4.3 percent).

Fruit and vegetable prices increased 2.0 percent over the year, with continued record high prices for avocados (up 146 percent), partly offset by lower prices for tomatoes (down 20 percent).

Japan's industrial production decreased more than initially estimated in May, final data published by the Ministry of Economy, Trade and Industry showed Wednesday.

Industrial production fell a seasonally adjusted 2.6 percent monthly in May instead of a 2.3 percent drop reported earlier.

It was the first decline in three months. In April, production had risen 0.5 percent.

Shipments dipped 2.6 percent over the month, revised from a 2.3 percent fall in the flash report. At the same time, inventories rose 0.4 percent in May compared to a 0.3 percent gain previously reported.

On an annual basis, industrial production decreased 0.4 percent in May, which was corrected from a 0.1 percent slight drop reported initially.

The capacity utilization contracted at faster pace of 2.4 percent month-on-month in May, following a 1.0 percent decline in April. It was the second consecutive monthly fall.

Consumer confidence in Australia took a hit in July, the latest survey from Westpac Bank and the Melbourne Institute revealed on Wednesday, sliding 3.0 percent to a reading of 99.1.

That follows the 1.0 percent in June to 102.2.

Analysts actually expected a bigger decline after the United Kingdom voted to leave the European Union, setting the stage for a modest recovery next month.

(pare/closed(GMT +3)/change, %)

EUR/USD $1,1063 +0,03%

GBP/USD $1,3247 +1,92%

USD/CHF Chf0,9885 +0,60%

USD/JPY Y104,75 +1,90%

EUR/JPY Y115,90 +1,94%

GBP/JPY Y138,79 +3,82%

AUD/USD $0,7618 +1,14%

NZD/USD $0,7293 +1,03%

USD/CAD C$1,3035 -0,60%