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'Markets Are Overly Worried About a US Recession' - Invesco's Kristina Hooper
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The central parity rate of Renminbi is reported as 7.1386, down by 68 basis points.
On August 7th, the central parity rate of the RMB was reported at 7.1386, down 68 points from the previous trading day's central parity rate of 7.1318. Invesco: Market overly concerned about U.S. economic recession, Fed may cut interest rates three times this year. Invesco's Chief Global Market Strategist, Kristina Hooper, commented on the sell-off in the U.S. and Japanese markets. Invesco stated that due to slower economic growth, its strategic indicators have shifted to defensive. However, the market is overly concerned about the U.S. economy entering into a recession. Although the Fed's decision not to cut interest rates in July does increase the risk of an economic downturn, the job market is still stable.
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