Market Brief
The USD was stable in the Asian session, on light volumes. The EURUSD and USDJPY traded in relatively tight ranges of 1.3920-1.3970 and 95.60-96.00, respectively, despite the fact that general risk appetite continues to struggle. Mounting negative news has yet to see follow through into the USD, making us consider the decline of the risk aversion trade. The EURCHF was able to push down to 1.5020 before concerns over the SNB intervention policy were reinforced at today's policy meeting. Yesterday, Governor Mervyn King stated that there are signs that the British domestic economy is starting to stabilise. However, it was too early to reverse the BoE 'extraordinary policy stimulus`. Yet, he noted that while it was too early to begin execution it was not too early to begin planning an exit strategy
Ahead today, initial claims, leading indicators and the Philly Fed index are due. At -17, the market is looking for a rebound in the Philly Fed (previous -22.6).
| Global Indexes | Current Level | % Change |
| Nikkei 225 Index | 9,703.72 | -1.39 |
| Hang Seng Index | 17,776.66 | -1.7 |
| Shanghai Index | 3,057.43 | 1.56 |
| FTSE 100 Index | 4,276.00 | -0.16 |
| DAX Index | 4,807.50 | -0.06 |
| SMI Index | 5,294.00 | -0.23 |
| DJIA futures | 8,450.00 | 0.1 |
| World Markets | Current Level | % Change |
| Gold | 937.8 | 1.8 |
| Silver | 937.8 | 0.19 |
| Crude wti | 71.55 | 0.55 |
| Todays Calender | Estimates | Previous | Country / GMT |
| SNB Interest rate announcement, % Q2 | 0.0 - 0.50 | 0.0 - 0.75 | CHF / 7.30 |
| Retail sales, % m/m (y/y) May | 0.4 (-0.2) | 0.9 (2.6) | GBP / 8.30 |
| BoE provisional M4 growth, % m/m (y/y) May | -- | 0.1 (17.4) | GBP / 8.30 |
| CBI industrial trends survey, total orders, net ba | -48 | -56 | GBP / 10.00 |
| CPI, % y/y May | -0.2 | 0.4 | CAD / 11.00 |
| Bank of Canada core CPI: % y/y May | 1.6 | 1.8 | CAD / 11.00 |
| Initial jobless claims, thous (4wk mvg avg) Jun 13 | -- | 601 (622) | USD / 12.30 |
| Leading indicators, % (y/y) May | 0.9 (-2.1) | 1.0 (-3.0) | USD / 14.00 |
| Philadelphia Fed Index Jun | -18 | -22.6 | USD / 14.00 |
Currency Tech
AUDUSD
R 3: 0.8378
R 2: 0.8263
R 1: 0.8108
CURRENT: 0.7932
S 1: 0.7828
S 2: 0.7745
S 3: 0.7703
EURJPY
R 3: 141.74
R 2: 139.22
R 1: 138.33
CURRENT: 133.50
S 1: 131.49
S 2: 129.73
S 3: 126.98
USDSGD
R 3: 1.4803
R 2: 1.4748
R 1: 1.4666
CURRENT: 1.4564
S 1: 1.4425
S 2: 1.4386
S 3: 1.4336
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
