- EURUSD is off the Friday high by begin of the week (range 1.26145-1.2681), also AUDUSD is lower also after stronger than expected data (Tankan, China PMIs, Australia PMI).
- Stocks: Nikkei +0.24 %, Hang Seng +2.19 %. Shanghai Composite +0.12 %, Dow Jones +2.20 %, S+P500 +2.49 %
- Greece must implement reform goals 100%, the ECB Executive Board member said in an interview with ARD TV.
* Repeats sees scope for reviewing "mix" of Greek reform measures, doesn't see Greece getting more time, relief on reform objectives themselves
* Says EU summit doesn't make ESM more lax, doesn't open door to euro bonds
* Sees no conflict with ECB regulator role in possible banking union
* Not opposed to referendums on deeper European integration
* Says euro was "never in danger" during crisis
- The French government warned it will cut its economic growth forecasts for this year and next, a move that could point to a need for greater austerity than promised by Socialist President François Hollande. The government said it would base amendments-essentially tax increases- to the 2012 budget on a forecast that France's economy would expand by 0.4% this year, below the 0.5% couched in Mr. Hollande's election program. Finance minister Pierre Moscovici signaled an even sharper cut to the 2013 forecast of 1.7% that Mr. Hollande had used in his program.
- Spain's Minister of Economy and Competitiveness Luis de Guindos said on Sunday that he expected the recession to continue in Spain throughout the second half of 2012. De Guindos added that this "negative growth" would be "slightly higher" than the 0.3 percent reduction in Spain's GDP in the first quarter this year.
- U.K. Prime Minister David Cameron said he's not opposed to a popular vote on Britain's membership of the European Union and a plebiscite may be needed to gain the support of Britons for staying in the political alliance.
- Japan Data Recap Period Survey Actual Prior
* Tankan Large Manufacturer Index Q2 -4 -1 -4
* Tankan Non-Manufacturing Q2 7 8 5
* Tankan Large Manufacturing Outlook Q2 -4 1 -3
* Tankan Non-Manufacturing Outook Q2 6 6 5
* Tankan Large All Indust. Capex Q2 3.6 % 6.2 % 0.0 %
- Autralia Data Recap Period Survey Actual Prior
* AIG Perf. of Manufacturing Index June - 47.2 42.4
* TD Securities Inflation yoy June - 1.6 % 1.8 %
- China Data Recap Period Survey Actual Prior
* Manufacturing PMI June 49.9 50.2 50.4
* HSBC Manufacturing PMI June - 48.2 48.4
- The Swiss central bank's policy of enforcing its currency ceiling is appropriate to prevent deflation, the bank's president said. "We are enforcing the minimum exchange rate with all determination because it is the right monetary policy," SNB's Jordan told SonntagsBlik. The Swiss National Bank has to do that "to prevent a deflationary development."
- IMM Positions: EUR -160k vs -141k, JPY 4k vs 15k, GBP -1k vs -17k, CHF -24k vs -7k, CAD 9k vs 8k, AUD -2k vs -3k, NZD 1k vs -2k
- 16:00 US ISM Manufacturing June
- 16:00 US Construction Spending May
- 19:15 Fed Williams
- 09:45 Italy PMI Manufacturing June
- 09:50 France PMI Manufacturing June
- 09:55 Germany PMI Manufacturing June
- 10:00 Eurozone PMI Manufacturing June
- 11:00 Eurozone Unemployment Rate May
- 09.25 ECB Asmusen
- 11:00 ECB Nowotny
- 10:30 UK PMI Manufacturing June
- 01:00 Bank of England Annual Report
- 09:15 Switzerland Retail Sales May
- 09:30 Switzerland PMI Manufacturing June
- 08:30 Sweden PMI June
- 09:00 Norway PMI June
- 10:00 Credit Growth Indicator May
Have a good start !