Market Brief
Risk appetite remained firm in the Asian session, following the US equity markets higher: However, European indexes have turned red and, with them, the USD has begun to retake lost ground. In Japan, core CPI fell by -1.7%, the largest annual decline ever recorded, while unemployment increased to 5.4%. The soft labour market is clearly taking its toll on consumer confidence, as household spending figures only increased 0.2% y/y. We still expect Japan to be one of the last economies to recover and we'll be looking to sell JPY (especially against commodity currencies). For today, the US & Canada will release GDP estimates, which are expected to show a slight increase. Barring any unforeseen dip in growth estimates, we expect risk appetite to remain steady and any decline in equity markets to be controlled.
| Global Indexes | Current Level | % Change |
| Nikkei 225 Index | 10,356.83 | 1.88 |
| Hang Seng Index | 20,549.86 | 1.56 |
| Shanghai Index | 3,412.06 | 2.72 |
| FTSE 100 Index | 4,633.34 | 0.03 |
| DAX Index | 5,364.76 | 0.07 |
| SMI Index | 5,937.78 | 0.08 |
| DJIA futures | 9,134.00 | 0.48 |
| World Markets | Current Level | % Change |
| Gold | 937.21 | 0.3 |
| Silver | 13.61 | 0.92 |
| VIX | 25.4 | -0.82 |
| Crude wti | 67.06 | 0.17 |
| USD Index | 79.04 | -0.32 |
| Todays Calender | Estimates | Previous | Country / GMT |
| Flash HICP, % y/y Jul | -0.4 | -0.1 | EUR / 09.00 |
| Unemployment rate, % Jun | 9.7 | 9.5 | EUR / 09.00 |
| KoF leading indicator Jul | -1.45 | -1.65 | CHF / 09.30 |
| GDP, % m/m May | -0.3 | -0.1 | USD / 12.30 |
| GDP, % q/q saar (y/y) Q2-A | -1.5, -3.5 | -5.5,-2.5 | USD / 12.30 |
| GDP price index, % q/q saar (y/y) Q2-A | 1.0 (2.1) | 2.8 (2.1) | USD / 12.30 |
| Employment cost index, % q/q (y/y) Q2 | 0.3 (1.8) | 0.3 (2.1) | USD / 12.30 |
| GDP, % m/m May | -0.30% | -0.10% | CAD / 12.30 |
| Chicago purchasing managers index Jul | 42 | 39.9 | USD / 13.45 |
Currency Tech
AUDUSD
R 2: 0.8520
R 1: 0.8378
CURRENT: 0.8279
S 1: 0.8090
S 2: 0.7927
EURJPY
R 2: 136.86
R 1: 136.10
CURRENT: 134.90
S 1: 132.10
S 2: 131.60
USDCAD
R 2: 1.1225
R 1: 1.1012
CURRENT: 1.0808
S 1: 1.0750
S 2: 1.0545
USDMXN
R 2: 13.645
R 1: 13.416
CURRENT: 13.225
S 1: 13.135
S 2: 13.060
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
