Global Markets:
- Asian Stock Markets : Nikkei down 0.38%, Shanghai Composite down 0.15%, Hang Seng down 1.52%, ASX up 0.48%
- Commodities : Gold at $1417.85 (-0.10%), Silver at $16.38 (-0.09%), Brent Oil at $63.06 (-0.49%), WTI Oil at $56.03 (-0.30%)
- Rates : US 10-year yield at 2.070, UK 10-year yield at 0.685, Germany 10-year yield at -0.381
News & Data:
- (USD) Advance GDP q/q 2.10% vs 1.80% expected
- (USD) Advance GDP Price Index q/q 2.40% vs 4.00% expected
- PBoC Fixes USDCNY Ref Rate At 6.8821 (prev fix 6.8796 close 6.8800)
- S., China move trade talks to Shanghai amid deal pessimism
CFTC Positioning Data:
- EUR short 39K vs 31K short last week. Shorts increased by 8K
- GBP short 79K vs 76K short last week. Shorts increased by 3K
- JPY short 9K vs 11K short last week. Short trimmed by 2K
- CHF short 13k vs 12k short last week. Shorts increased by 1K
- AUD short 48 k vs 53k short last week. Shorts trimmed by 5K
- NZD short 12K vs 17K short last week. Shorts trimmed by 5K
- CAD long 31K vs 21K long last week. Longs increased by 10K
Markets Update:
Asian stock markets are mostly lower on Monday despite the positive cues from Wall Street Friday following upbeat corporate earnings results and better-than-expected U.S. GDP data. Investors turned cautious ahead of the U.S-China trade talks set to resume this week and the U.S. Federal Reserve’s monetary policy announcement due on Wednesday.
The Nikkei 225 in Japan declined 0.4% in afternoon trade, as index heavyweight and robot maker Fanuc’s stock fell 1.3%. The Topix also shed 0.3%. In mainland China, the Shanghai composite shed earlier gains to slip 0.1% by the afternoon, while the Shenzhen component and Shenzhen composite were just below the flatline.
Hong Kong’s Hang Seng index dropped 1.5%, as tensions remain high in the city following another clash between protestors and the police over the weekend. Australia’s S&P/ASX 200, on the other hand, rose 0.5% as most of the sectors traded higher.
The dollar hit a two-month peak on a basket of currencies at 98.010, and was last trading at 97.921. The dollar had got a helping hand from White House economic adviser Larry Kudlow who on Friday said the Trump administration had “ruled out” intervening to push it lower. Sterling was pinned near 27-month lows around $1.2375 amid reports the government of Prime Minister Boris Johnson was preparing the ground for a “no-deal” Brexit.
Upcoming Events:
Tuesday, July 30, 2019
- 02:30 AM GMT – (AUD) Building Approvals m/m
- Tentative – (JPY) BOJ Outlook Report
- Tentative – (JPY) Monetary Policy Statement
- Tentative – (JPY) BOJ Press Conference
- All Day – (EUR) German Prelim CPI m/m
- 01:30 PM GMT – (USD) Core PCE Price Index m/m
- 01:30 PM GMT – (USD) Personal Spending m/m
- 03:00 PM GMT – (USD) CB Consumer Confidence
Wednesday, July 31, 2019
- 02:00 AM GMT – (CNY) Manufacturing PMI
- 02:00 AM GMT – (CNY) Non-Manufacturing PMI
- 02:00 AM GMT – (NZD) ANZ Business Confidence
- 02:30 AM GMT – (AUD) CPI q/q
- 02:30 AM GMT – (AUD) Trimmed Mean CPI q/q
- 08:00 AM GMT – (EUR) Spanish Flash GDP q/q
- 10:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 10:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 01:15 PM GMT – (USD) ADP Non-Farm Employment Change
- 01:30 PM GMT – (CAD) GDP m/m
- 01:30 PM GMT – (CAD) RMPI m/m
- 01:30 PM GMT – (USD) Employment Cost Index q/q
- 02:45 PM GMT – (USD) Chicago PMI
- 07:00 PM GMT – (USD) FOMC Statement
- 07:00 PM GMT – (USD) Federal Funds Rate
- 07:30 PM GMT – (USD) FOMC Press Conference
Thursday, August 01, 2019
- 02:45 AM GMT – (CNY) Caixin Manufacturing PMI
- 09:30 AM GMT – (GBP) Manufacturing PMI
- 12:00 PM GMT – (GBP) BOE Inflation Report
- 12:00 PM GMT – (GBP) MPC Official Bank Rate Votes
- 12:00 PM GMT – (GBP) Monetary Policy Summary
- 12:00 PM GMT – (GBP) Official Bank Rate
- 12:00 PM GMT – (GBP) Asset Purchase Facility
- 12:00 PM GMT – (GBP) MPC Asset Purchase Facility Votes
- 12:30 PM GMT – (GBP) BOE Gov Carney Speaks
- 03:00 PM GMT – (USD) ISM Manufacturing PMI
Friday, August 02, 2019
- 02:30 AM GMT – (AUD) Retail Sales m/m
- 01:30 PM GMT – (CAD) Trade Balance
- 01:30 PM GMT – (USD) Average Hourly Earnings m/m
- 01:30 PM GMT – (USD) Non-Farm Employment Change
- 01:30 PM GMT – (USD) Unemployment Rate
- 03:00 PM GMT – (USD) Revised UoM Consumer Sentiment
- &more…
