Posted at 10 August 2021 / Categories Market Roundups
Market Roundup
•French 12-Month BTF Auction -0.645%, -0.642% previous
•French 3-Month BTF Auction -0.648%,-0.646% previous
•French 6-Month BTF Auction -0.673%,-0.680% previous
•US Jun JOLTs Job Openings 10.073M, 9.270M forecast, 9.209M previous
•US Jul CB Employment Trends Index 109.80, 109.84 previous
•US 6-Month Bill Auction 0.050%,0.055% previous
•US 3-Month Bill Auction 0.050%, 0.050% previous
Looking Ahead –Economic Data (GMT)
•05:20 Japan June Current Account n.s.a 0.780T forecast , 1.980T previous
•05:20 Japan Jul Bank Lending (YoY) 1.4% previous
•05:20 Japan Adjusted Current Account 1.87T previous
•05:30 Australia HIA New Home Sales (MoM) 14.8% previous
•05:30 Australia Building Approvals (MoM) -6.7% previous
•07:00 Australia NAB Business Confidence 24 previous
Looking Ahead - Events, Other Releases (GMT)
•No significant events
Fxbeat
EUR/USD: The euro dipped against dollar on Monday as dollar was buoyed by upbeat U.S. data, even as traders kept a close watch on the spread of COVID-19 cases in the United States. Data Monday showed U.S. job openings jumped to a record high in June and hiring increased. That came on the heels of Friday’s U.S. monthly jobs report that showed U.S. employers hired the most workers in nearly a year in July and continued to raise wages. Immediate resistance can be seen at 1.1753(38.2%fib), an upside break can trigger rise towards 1.1791(50%fib).On the downside, immediate support is seen at 1.1707(23.6%fib), a break below could take the pair towards 1.1685 (Oct 14th 2020 Low)
GBP/USD: The pound edged lower on Monday as investors focused on the possible pace of monetary policy tightening after the Bank of England meeting last week.In recent weeks, sterling has outperformed as COVID-19 cases have fallen and high vaccination rates have allowed the British government to lift most social-distancing rules. The pound was down 0.1% versus the dollar, at $1.3843. Immediate resistance can be seen at 1.3989(Daily high),an upside break can trigger rise towards 1.3949(23.6%fib).On the downside, immediate support is seen at 1.3834(38.2%fib), a break below could take the pair towards 1.3762 (50%fib).
USD/CAD: The Canadian dollar edged higher against its U.S. counterpart on Monday as the U.S. Senate came closer to passing a $1 trillion infrastructure package, but gains were capped by additional pressure on oil prices.The U.S. Senate on Sunday took further steps toward passing a bipartisan infrastructure bill that includes the largest U.S. investment in roads and bridges in decades. U.S. crude prices were down 3.8% at $65.71 a barrel,extending last week's steep losses .Immediate resistance can be seen at 1.2599 (38.2%fib), an upside break can trigger rise towards 1.2678(23.6%fib).On the downside, immediate support is seen at 1.2557 (50%fib), a break below could take the pair towards 1.2540 (50%fib).
USD/JPY: The dollar strengthened against the Japanese yen on Monday as dollar was buoyed by upbeat U.S. data, even as traders kept a close watch on the spread of COVID-19 cases in the United States. Data Monday showed U.S. job openings jumped to a record high in June and hiring increased. That came on the heels of Friday’s U.S. monthly jobs report that showed U.S. employers hired the most workers in nearly a year in July and continued to raise wages. The U.S. dollar index, which measures the greenback against a basket of currencies, was last up 0.09% at 92.937.Strong resistance can be seen at 110.44(50%fib), an upside break can trigger rise towards 110.97 (61.8%fib).On the downside, immediate support is seen at 110.32(50%fib), a break below could take the pair towards 109.75(23.6%fib).
Equities Recap
European stocks reached a record high after healthcare, utilities and technology gains outweighed declines triggered by a fall in commodity prices earlier on Monday.
UK's benchmark FTSE 100 closed up by 0.13 percent, Germany's Dax ended up by 0.10 percent, France’s CAC finished the day up by 0.06 percent.
The S&P 500 dipped on Monday, as fuel demand worries during a resurgent pandemic sent energy stocks lower but rising U.S. Treasury yields lifted financials stocks, keeping Wall Street’s benchmark index near record levels.
Dow Jones closed down by 0.30 percent, S&P 500 closed up by 0.09 percent, Nasdaq settled up by 0.16 % percent.
Treasuries Recap
Treasuries Recap U.S. Treasury yields rose on Monday as record-high job openings on top of stronger-than-expected employment gains in July added to the narrative of an improving labor market.
The benchmark 10-year yield, which hit its highest level since July 16 at 1.324%, was last up 2.9 basis points at 1.317%.
Commodities Recap
Gold slumped to a more than four-month low on Monday, as strong U.S. jobs data bolstered expectations for an early tapering of the Federal Reserve’s economic support measures.
Spot gold shed 2.1% to $1,725.96 per ounce by 1:40 p.m. EDT (1740 GMT). U.S. gold futures settled 2.1% down at $1,726.50.
Oil prices fell over 2% to a three-week low on Monday, extending last week's steep losses on the back of a firmer U.S. dollar and concerns that new coronavirus-related restrictions in Asia, especially China, could slow a global recovery in fuel demand.
Brent futures fell $1.66, or 2.4%, to settle at $69.04 a barrel, while U.S. West Texas Intermediate (WTI) crude lost $1.80, or 2.6%, to settle at $66.48.