Switzerland CPI inflation has dropped further to -1.1% in June and foreign currency reserves rose from 303.8B to 364.9B as the SNB keeps the EUR/CHF rate steady at 1.20. The Swiss SMI 20 is just below flat on the day.
Germany industrial production improved by 1.6% on the month, resulting in an unchanged figure since May 2011. UK PPI data dropped more than expected, with non-adjusted June input PPI (YoY) drop from 0.0% to -2.3%, and output PPI drop from 2.9% to 2.3%.
Futures for the American S&P 500, Dow Jones 30 and Nasdaq 100 are signaling a lower opening by -0.15% ahead of the US nonfarm payrolls. Market expectations have changed after yesterday’s much better than expected ADP employment report.
WTI crude oil is down by -1.62% to 85.70. Gold dropped below 1600 to 1592, down by -0.68%.