Risk aversion remains high as fiscal impact of prolong recession remains a concern

ECONOMIC DATA - (RU) Russian Jun Consumer Price M/M: 0.6% v 0.5%e; Y/Y: 11.9% v 11.9%e; CPI YTD: 7.4% v 7.4%e - (DE) Danish May Industrial Production (ex ships) M/M: -1.5 v -1.1% prior; Ind Orders (ex ships) : -0.9 v -11.9% prior - (TT) Taiwan June CPI Y/Y: -2.0% v -1.5%e; CPI WPI Y/Y: -13.6% v -14.4%e - UK) Jun new car registration Y/Y -15.7% v -24.8% prior - SMMT - (EU) Euro-Zone July Sentix Investor Confidence: -31.3 v -25.0e - (SA) South Africa SACCI June Business Confidence: 83.1 v 81.8