Matt Simpson, CFTe, MSTA
CityIndex
ASIA ROUNDUP:
Trading was very light and confined to narrow ranges early Asia trading across the board, making directional near-impossible. However Gold did spike and shed $7 in a minute on heavy volume to suggest a large order being dumped. Near the end of the session GBP pairs accelerated losses to finish near yesterday's lows.
Chinese Consumer sentiment falls 7% in May .
Money markets are pricing in an 86% chance of an RBNZ rate increase on 24th July.
AUD bonds are expected to continue to rally whilst the markets continue to expect interest rates to remain on hold, or even bet cut further.
AUD Health spend to GDP rising at 5.4% y/y .
UP NEXT:
- US Data dominates today's NYLON session with multiple releases at 12:30 GMT and 13:45 GMT. Annualised GDP is the headline figure, however this is the 3rd revision of the GDP so tends to have less impact compared to the 1st version. Unless of course the revision itself has been heavily revised.
TECHNICAL ANALYSIS:
BRENT: Drifts towards $113 - a potential buy zone
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