Posted at 29 June 2021 / Categories Market Roundups
Market Roundup
•US Redbook (YoY) 18.2%,17.6% previous
•US Apr House Price Index (MoM) 1.8%, 1.4% previous
•US Apr House Price Index 331.2,324.9 previous
•US Apr House Price Index (YoY) 15.7%,13.9% previous
•US Apr S&P/CS HPI Composite - 20 s.a. (MoM) 1.6%, 1.7% forecast, 1.6% previous
•US Apr S&P/CS HPI Composite - 20 n.s.a. (YoY) 14.9%, 14.5% forecast, 13.3% previous
•US S&P/CS HPI Composite - 20 n.s.a. (MoM) 2.1%,2.2% previous
•US Jun CB Consumer Confidence 127.3, 119.0 forecast, 117.2 previous
•US Jun Texas Services Sector Outlook 36.2, 40.0 previous
•US Jun Dallas Fed Services Revenues 16.7, 23.9 previous
Looking Ahead - Economic Data (GMT)
• 23:50 Japan June Industrial Production forecast 1m ahead (MoM ) -1.7% previous
• 23:50 Japan July Industrial Production forecast 2m ahead (MoM) 5.0% previous
• 23:50 Japan May Industrial Production (MoM) -2.4% forecast, 2.9% previous
• 01:00 Chinese June Composite PMI 54.2 previous
• 01:00 Chinese June Manufacturing PMI 50.8 forecast, 51.0 previous
• 01:00 New Zealand Jun ANZ Business Confidence 1.8 previous
• 01:00 New Zealand Jun NBNZ Own Activity 27.1% previous
• 01:00 New Zealand Jun Non-Manufacturing PMI 55.2 previous
• 01:30 Australia May Private Sector Credit (MoM) 0.2% previous
• 01:30 Australia May Housing Credit 0.5% previous
• 05:00 Japan May Household Confidence 34.1 previous
• 05:00 Japan May Construction Orders (YoY) 3.3% previous
• 05:00 Australia May Housing Starts (YoY) 8.3% forecast, 7.1% previous
Looking Ahead - Economic events and other releases (GMT)
•23:15 Australia RBA Governor Lowe Speaks
Currencies Summaries
EUR/USD: The euro edged lower against dollar on Tuesday as concerns about new coronavirus outbreaks in Europe and Asia continued to weigh on investors sentiment. Fears over the spread of the highly infectious Delta variant are denting sentiment at a time markets are on edge after the Fed shocked traders with a hawkish tilt earlier this month. Investors are also waiting for the U.S. jobs due out on Friday, the results of which could influence Fed policy. Immediate resistance can be seen at 1.1921 (5DMA), an upside break can trigger rise towards 1.1967 (38.2%fib).On the downside, immediate support is seen at 1.1885(23.6%fib), a break below could take the pair towards 1.1849(June 21st low).
GBP/USD: Sterling was little changed against dollar on Tuesday as investors tread water over uncertainty around the spread of the delta variant of the coronavirus in Britain, which has forced the government to delay the final phase of reopening the economy. Prime Minister Boris Johnson said on Monday that Britain was on course to be able to lift most remaining COVID-19 restrictions on July 19.By 22:16GMT, sterling was 0.1% higher to the dollar at $1.3841, after hitting its lowest since June 21, at $1.3814. The currency was set for a 2.4% loss against the dollar this month. Immediate resistance can be seen at 1.3885 (38.2% fib), an upside break can trigger rise towards 1.3939(50%fib).On the downside, immediate support is seen at 1.3822 (Daily low), a break below could take the pair towards 1.3785 (23.6%fib).
USD/CAD: The loonie weakened against its much stronger U.S. counterpart for a second day on Tuesday as investors weighed the potential impact of new coronavirus outbreaks in Asia on the global economic recovery .Oil reversed previous losses, rising 1% to $ 73.55, but copper, which is believed to be an indicator of global financial health, fell for the fourth day. Canada is a major producer of both commodities.The loonie was last trading 0.2% lower at 1.2364 versus the greenback .Immediate resistance can be seen at 1.2430 (23.6%fib), an upside break can trigger rise towards 1.2469 (Higher BB).On the downside, immediate support is seen at 1.2357(38.2%fib), a break below could take the pair towards 1.2302 (38.2%fib).
USD/JPY: The dollar edged higher against the Japanese yen on Tuesday as greenback strengthened over fears that new coronavirus outbreaks could undermine a global economic recovery. Fears over the spread of the highly infectious Delta coronavirus variant have dented global sentiment at a time that markets are on edge because of a hawkish tilt from the U.S. Federal Reserve. Both the dollar and yen have benefited from some safe-haven demand, driven by concerns over the spread of the highly contagious Delta variant first identified in India. Strong resistance can be seen at 110.78(5DMA), an upside break can trigger rise towards 111.10 (23.6%fib).On the downside, immediate support is seen at 110.44(38.2%fib), a break below could take the pair towards 110.15 (21DMA).
Equities Recap
European shares ended higher on Tuesday after data showed economic sentiment improved sharply in June, while Adidas lifted the German index with a share buyback plan.
The UK's benchmark FTSE 100 closed up by 0.21percent, Germany's Dax ended up by 0.88 percent, and France’s CAC finished the day up by 0.14 percent.
U.S. stocks continued their momentum on Tuesday, with all three major indexes up in early afternoon. The S&P 500 and Nasdaq both hit record highs, lifted by shares of heavyweight technology firms and by Morgan Stanley.
Dow Jones closed up by 0.03 percent, S&P 500 ended up by 0.03 percent, Nasdaq settled up by 0.19 percent.
Treasuries Recap
U.S. Treasury yields hugged the unchanged mark on Tuesday as the market waited to see how June U.S. employment data, due later this week, might affect the Federal Reserve's monetary policy stance.
The benchmark 10-year yield, which rose as high as 1.51% earlier in the session, was last flat at 1.4782%.
Commodities Recap
Oil prices rose as hopes for a demand recovery persisted despite new outbreaks of the Delta variant.
Brent crude futures settled up 8 cents, or 0.11%, and U.S. crude settled up 7 cents, or up 0.10%.
Gold fell to its lowest since mid-April on Tuesday as the dollar strengthened in the run-up to this week’s U.S. jobs report, which is expected to come in strong and could cement the Federal Reserve’s recent hawkish stance.
Spot gold fell 0.93% to $1,761.66 per ounce by 01:39 pm EDT (1739 GMT), after touching $1,749.20, its lowest since April 15. U.S. gold futures settled down 1% at $1,763.60.