Ipek Ozkardeskaya
Swissquote Bank Ltd
Appetite in Asia was mixed. US futures gave back a part of Friday’s gains, but FTSE and European futures opened in the green despite escalating tensions in Ukraine after the fall of Lysychansk in the hands of Russians. But, gains are probably fragile.
US stock and bonds markets are closed for bank holiday.
Gold is up, crude oil is down, and JP Morgan warns that the barrel of crude could jump up to $380.
In the FX, the US dollar index starts the week on a strong footage. The greenback reversed losses it recorded during the second half of June, and the dollar index is again very close to the 20-year peak it hit on June 15th, above 105 level.
The EURUSD is under pressure, the Aussie consolidates below 70 cents before the Reserve Bank of Australia (RBA) decision due tomorrow. The US will reveal the latest FOMC minutes and the June jobs figures this week.
Earnings calendar is light, with Levi’s Q2 earning due Thursday. Some investors watch the airlines stocks amid the monthly air traffic reports. But most of the market talk will be about the earnings expectations, before the banks announce their results from next week.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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