Market Brief
Risky assets held on to recent gain as equity markets closed almost flat and today is much the same. We believe traders are in a "hold pattern" ahead of Tomorrows ECB and BOE and Friday's US NFP. Fonterra's, New Zealand's largest dairy cooperative & exporter said improved demand (online auction) boosted powder milk prices 26%, which helped boost NZDUSD and sink AUDNZD. Today the important news to note would be house prices in the UK where positive data would boost the already faltering housing markets and give some hope to the economy. The most important news in the US will be the ADP employment report which is expected to show a lesser job loss reading which could give some hope to recovery measures being taken ahead of the Non-farm payroll data due on Friday along with the unemployment rate expectations.
| Global Indexes | Current Level | % Change |
| Nikkei 225 Index | 10,252.53 | -1.18 |
| Hang Seng Index | 20,501.19 | -1.42 |
| Shanghai Index | 3,428.50 | -1.23 |
| FTSE 100 Index | 4,668.56 | -0.06 |
| DAX Index | 5,414.74 | -0.04 |
| SMI Index | 5,936.65 | -0.05 |
| DJIA futures | 9,249.00 | -0.04 |
| World Markets | Current Level | % Change |
| Gold | 964.47 | -0.25 |
| Silver | 14.67 | 0.25 |
| VIX | 24.89 | -2.62 |
| Crude wti | 71.11 | -0.43 |
| USD Index | 77.75 | -0.01 |
| Todays Calender | Estimates | Previous | Country / GMT |
| Final Services PMI, index Jul | 45.6 | 45.6 P | EUR / 07.58 |
| Final Composite PMI, index Jul | 46.8 | 46.8 P | EUR / 07.58 |
| Services PMI, index Jul | 51.8 | 51.6 | GBP / 08.30 |
| Manufacturing output, % m/m (y/y) Jun | -0.1,-12.1 | -0.5,-12.7 | GBP / 08.30 |
| Industrial production, % m/m (y/y) Jun | 0.0, -11.4 | 0.3, -11.1 | GBP / 08.30 |
| Retail sales, % m/m (y/y) Jun | 0.3, -2.3 | -0.4, -3.3 | EUR / 09.00 |
| ADP payrolls (chg, k) Jul | -350 | -473 | USD / 12.15 |
| Factory orders, % m/m (y/y) Jun | 0.5, -24.1 | 1.0, -22.9 | USD / 14.00 |
| ISM non-mfg composite, index Jul | 48 | 47 | USD / 14.00 |
| Employment % q/q Q2 | -0.8 | -1.1 | NZD / 22.45 |
| unemployment rate % Q2 | 5.6 | 5 | NZD / 22.45 |
Currency Tech
AUDUSD
R 2: 0.8695
R 1: 0.8520
CURRENT: 0.8404
S 1: 0.8340
S 2: 0.8238
EURJPY
R 2: 139.25
R 1: 138.29
CURRENT: 136.62
S 1: 134.30
S 2: 132.75
USDCAD
R 2: 1.1012
R 1: 1.0935
CURRENT: 1.0763
S 1: 1.0547
S 2: 1.0445
USDMXN
R 2: 13.415
R 1: 13.305
CURRENT: 13.1522
S 1: 13.059
S 2: 12.987
- S: Strong, M: Minor, T: Trendline, K: Keylevel, P: Pivot
