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🌏 Brazil's trade surplus hides an $18bn capital exodus

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🇬🇧 The Bank of England's first hawkish dissent in this cutting cycle is a stagflation warning

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🇪🇺 ECB minutes reveal a hiking cycle it didn't want, and traders are now pricing three moves this year

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🇺🇸 US labor market stability is now an argument against rate cuts, not for them

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📰 Daily Macro Roundup: 2026-07-08

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🇨🇳 PBOC repeats its easing pledge, but China's real rates say otherwise

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🇬🇧 BoE dissenters wanted a hike as construction posts its worst reading since lockdown

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🌏 Brazil's central bank is now fighting a strong currency, not a weak one

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🇪🇺 A hawkish ECB collides with a construction sector still stuck at 2023 lows

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🇺🇸 Fed minutes, not the new chair, are about to move markets

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