06:18 AM EDT, 08/01/2024 (MT Newswires) -- Commerzbank in its "European Sunrise" note of Thursday highlighted:

Markets: United States Treasuries (UST) rally on Federal Reserve press conference, consolidate in Asia. E-minis grind higher while the Nikkei drops more than 2.5% as the yen (JPY) strengthens below 150. The euro (EUR) is steady around $1.083. Brent edges higher to about $81.4/barrel.

Fed: Chair Jerome Powell says rate cut "could be on the table as soon as the next meeting in September." The statement says "job gains have moderated" (before: "remained strong"), describes inflation as "somewhat elevated" (before: "elevated") and adds that "the Committee is attentive to the risks to both sides of its dual mandate."

US: Former President Donald Trump says he would cut taxes on social security payments. Autoworkers union UAW endorses Vice President Kamala Harris for president. Harris moves ahead of Trump in PredictIt betting odds.

Middle East: Iran's supreme leader ordered a retaliatory attack on Israel (NYT).

== EUROPE:

UK: Over 100 arrested in Downing Street protest.

== ASIA:

China: Caixin Manufacturing PMI for July falls 2pts to 49.8 (consensus 51.5). State planner says China will actively expand domestic demand to achieve full-year growth target.