From Euro-Dollar Parity to a Global Energy Crisis
We’ve yet to see the hard domestic economic data sufficient to support the case that the Federal Reserve will pause its monetary tightening program. Perhaps the June consumer price index, due tomorrow at 8:30 a.m. ET, will be that data. In the meantime, ZEW survey results for July reflect acute concern in Germany about the potential impact of a complete embargo on Russian gas, with the index of economic expectations falling to minus 53.8 from 28.0 in June. Altogether, the euro dropped to a 20-year low versus the U.S. dollar, approaching parity on fear of an energy crisis and a recession. Tony Greer, the founder of TG Macro and the editor of The Morning Navigator, joins Real Vision's Andreas Steno Larsen to talk about the implications of euro-dollar parity, when falling crude oil and wholesale gasoline prices will show up in inflation figures, and the complex equation that could end in a global energy crisis. We also take a quick peek at today’s Insider Talks episode with Raoul Pal and Julian Brigden about the increasingly complex macro environment. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3avxK6C. Watch the full Insider Talks episode here: https://rvtv.io/3IxryYo.
Ash Bennington
@AshBennington
Maggie Lake
@maggielake
Raoul Pal
@RaoulGMI
We'll be tweeting new episodes, polls, questions, and show updates. Follow us and say hi!
@RealvisionOur core membership, Real Vision ESSENTIAL, unlocks our most popular shows, introducing the key market themes we focus on and featuring hard-to-access guests like Kyle Bass, Jim Chanos, Jim Grant, Stan Druckenmiller and many more.
Become a member now and get analysis you won’t find anywhere else.