Posted at 02 August 2021 / Categories Market Roundups
Market Roundup
•German Jun Retail Sales (YoY) 4.2%, -2.2% forecast,-2.4% previous
•Swiss Jul CPI (MoM) -0.1%, -0.1% forecast 0.1% previous
•Swiss Jun Retail Sales (YoY) 0.1%,2.8% previous
•Italian Jul Manufacturing PMI 60.3,61.5 forecast, 62.2 previous
•French Jul Manufacturing PMI 58.0, 58.1 forecast, 58.1 previous
• German Jul Manufacturing PMI 65.9,65.6 forecast, 65.6 previous
• EU Jul Manufacturing PMI 62.8, 62.6 forecast, 63.4 previous
•UK Jul Manufacturing PMI 60.4,60.4forecast, 60.4 previous
Looking Ahead –Economic Data (GMT)
•13:00 French 6-Month BTF Auction -0.642% previous
•13:00 French 3-Month BTF Auction -0.646% previous
•13:45 Jul Manufacturing PMI 63.1 previous
•14:00 US Jul ISM Manufacturing Employment 49.9 previous
•14:00 US Jun Construction Spending (MoM) 0.4% forecast, -0.3% previous
•14:00 US Jul ISM Manufacturing Prices 92.1 previous
•14:00 US Jul ISM Manufacturing PMI 60.9 forecast, 60.6 previous
•14:00 US Jul ISM Manufacturing New Orders Index 66.0 previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
Fxbeat
EUR/USD: The euro rose against dollar on Monday as better than expected Germany's retail and manufacturing boosted euro. German retail sales increased much more than expected in June following an easing of COVID-19 restrictions while, faster growth in new orders and employment boosted Germany's manufacturing sector in July. The Federal Statistics Office said retail sales rose 4.2% on the month in real terms after an upwardly revised increase of 4.6% in May. The June reading was more than double the forecast for a rise of 2.0%. Immediate resistance can be seen at 1.1904(38.2%fib), an upside break can trigger rise towards 1.1962(23.6%fib).On the downside, immediate support is seen at 1.1861 (50% fib), a break below could take the pair towards 1.1828(9DMA).
GBP/USD: Sterling edged higher on Monday versus the dollar, ahead of a Bank of England meeting later in the week, as global risk tone improved on optimism for the U.S. infrastructure bill. A drop in COVID-19 cases and the reopening of the British economy have fuelled a rebound in the pound in July, with the currency re-emerging from its biggest fall in nine months in June. Sterling rose 0.2% versus the dollar to $1.3928 by 0830 GMT, after hitting a five-week high of $1.3983 on Friday, closing its best week versus the weakening greenback since early May. Immediate resistance can be seen at 1.3931(Daily high),an upside break can trigger rise towards 1.3995(23.6%fib).On the downside, immediate support is seen at 1.3886 (38.2%fib), a break below could take the pair towards 1.3842 (9DMA).
USD/CHF: The dollar held near recent lows against the Swiss franc on Monday as traders held tight positions heading into a busy week that includes U.S. jobs data and an Australian central bank decision.The dollar index , which measures the greenback against six major peers, stood at 92.065, down slightly from Friday, when it dipped as low as 91.775 for the first time since June 28. At 10:45 GMT, the dollar was trading 0.03 percent lower versus the swiss franc at 0.9048.Immediate resistance can be seen at 0.9071(38.2%fib), an upside break can trigger rise towards 0.9111 (50%fib).On the downside, immediate support is seen at 0.9041 (30th July low), a break below could take the pair towards 0.9023 (23.6%fib).
USD/JPY: The dollar declined against the Japanese yen on Monday ahead of U.S. jobless claims and payrolls data later this week .Economists in a poll forecast a 926,000 job increase in July's non-farm payrolls number, due Friday, which would be the biggest increase for 11 months. The U.S. unemployment rate is forecast to fall to 5.7%, from 5.9% in June . At 10:45 GMT, the dollar was trading 0.12 percent lower versus the yen at 109.54.Strong resistance can be seen at 109.73(38.2%fib), an upside break can trigger rise towards 109.97 (Higher BB).On the downside, immediate support is seen at 109.40 (50%fib), a break below could take the pair towards 109.00(Psychological level).
Equities Recap
European stocks scaled fresh peaks on Monday, driven by dealmaking activity and strong results from Europe’s biggest bank HSBC, with a rebound in Asian stocks also helping set a bright start to August.
At (GMT 10:46),UK's benchmark FTSE 100 was last trading up at 0.89 percent, Germany's Dax was up by 0.01 percent, France’s CAC was last up by 0.60 percent.
Commodities Recap
Gold prices fell on Monday as an increase in appetite for riskier assets weighed on the safe-haven metal, while investor focus is turning to a key U.S. employment report due later in the week to gauge the health of the labour market.
Spot gold was down 0.4% at $1,806.90 per ounce by 0930 GMT. U.S. gold futures dipped 0.4% to $1,810.10 per ounce.
Oil prices fell on Monday as worries over China's economy resurfaced after a survey showing growth in factory activity slipped sharply in the world's second-largest oil consumer, with concerns compounded by higher crude output from OPEC producers.
Brent crude oil futures slid by 79 cents, or 1.06%, to $74.62 a barrel by 0945 GMT, having earlier touched a low of $74.10.