Global Economy Shows Signs of Slowing Down Amid Disappointing US Growth

The global economy is showing signs of slowing down, particularly in the US. The country's second-quarter GDP growth was lower than expected at +1.5%, a disappointment that has made it less likely for the Federal Reserve to raise interest rates. Despite this, the Fed may still be hesitant to cut rates due to high inflation levels.

In contrast, China is taking steps to boost its economy by introducing targeted stimulus measures to support growth in the second half of the year. The country's top leadership has pledged to roll out these measures as it faces weak domestic demand and deepening structural imbalances.

Japan intervened in the currency market to support the yen, which rose sharply against the US dollar. Meanwhile, consumer sentiment in Japan improved slightly in July but remains off a low base.