Global Markets:
- Asian stock markets: Nikkei up 0.05 %, Shanghai Composite rose 0.50 %, Hang Seng rallied 0.40 %, ASX 200 gained 0.10 %
- Commodities: Gold at $1256 (+0.05 %), Silver at $16.66 (+0.10 %), WTI Oil at $43.50 (+1.10 %), Brent Oil at $46.25 (+1.05 %)
- Rates: US 10-year yield at 2.16, UK 10-year yield at 1.04, German 10-year yield at 0.26
News & Data
- Japan Corporate Services Price Index 0.7 % vs 0.7 % expected
- Asia stocks edge up on optimism over global growth, oil rebounds – RTRS
- Oil climbs on weaker dollar, but rise in U.S. drilling drags – RTRS
CFTC Positioning Data:
- EUR long 45K vs 79K long last week
- GBP short 38K vs 39K short last week
- JPY short 50K vs 51K short last week
- CHF short 3K vs 14K short last week
- CAD short 82K vs 88K short
- AUD long 15k vs short 1K last week
- NZD long 21K vs 1K short last week
Markets Update:
Markets had a quiet start into the new trading week, amid a lack of data and events overnight. EUR/USD opened around 1.12 and fell to 1.1185, while GBP/USD consolidated in a 1.2730-50 range. USD/JPY traded in a 111.15-35 range, while AUD/USD rose from 0.7560 to 0.7580.
Asian stock indices are mostly up on the day, led by the Shanghai Composite. Oil prices rallied overnight, which could support equities, if it can sustain momentum. Heavy resistance is seen ahead of $44 in WTI and around $46.50 in Brent.
Volatility should increase again this week, with a fair number of data releases to look forward too. Today, the main event will be the German IFO numbers, an indicator for business climate and business outlook.
Upcoming Events:
- 09:00 BST – German IFO Business Climate
- 13:30 BST – US Durable Goods Orders
- 23:45 BST – New Zealand Trade Balance
The Week Ahead:
Tuesday, June 27th
- 07:45 BST – French CPI
- 15:00 BST – US CB Consumer Confidence
- 15:00 BST – US Richmond Manufacturing Index
Wednesday, June 28th
- 07:45 BST – French Consumer Confidence
- 10:00 BST – Italian CPI
- 15:00 BST – US Pending Home Sales
- 15:30 BST – US Crude Oil Inventories
Thursday, June 29th
- 00:50 BST – Japan Retail Sales
- 02:00 BST – Australia HIA New Home Sales
- 02:00 BST – New Zealand ANZ Business Confidence
- 10:00 BST – Euro Zone Consumer Confidence
- 13:00 BST – German CPI
- 13:30 BST – US GDP
- 13:30 BST – US Initial Jobless Claims
- 23:45 BST – New Zealand Building Consents
Friday, June 30st
- 00:30 BST – Japan CPI
- 00:30 BST – Japan Household Spending
- 00:30 BST – Japan Unemployment Rate
- 00:50 BST – Japan Industrial Production
- 02:00 BST – China Manufacturing PMI
- 02:00 BST – China Non-Manufacturing PMI
- 02:30 BST – Australia Private Sector Credit
- 06:00 BST – Japan Housing Starts
- 07:00 BST – German Retail Sales
- 08:55 BST – German Unemployment Rate
- 09:30 BST – UK GDP
- 10:00 BST – Euro Zone CPI
- 13:30 BST – Canadian GDP
- 13:30 BST – US Personal Income
- 13:30 BST – US Personal Spending
- 14:45 BST – US Chicago PMI
- 15:00 BST – US Michigan Consumer Sentiment
