Monday 27th July: European Open Briefing

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Monday 27th July: European Open Briefing 1

Global Markets:

  • Asian stock markets: Nikkei down 1.15 %, Shanghai Composite lost 2.50 %, Hang Seng fell 2.90 %, ASX declined 0.15 %
  • Commodities: Gold at $1097 (+1.00 %), Silver at $14.58 (+0.65 %), WTI Oil at $47.85 (-0.65 %), Brent Oil at $54.45 (-0.30 %)
  • Rates: US 10 year yield at 2.26, UK 10 year yield at 1.94, German 10 year yield at 0.70

News & Data:

  • Australian Dollar Could Dip Below US70¢ — Westpac
  • PBOC Fixes Yuan Reference Rate At 6.1176 (prev 6.1169)
  • Japan Services PPI (YoY): 0.4% (expected 0.6%, previous 0.6%)
  • Asian shares broadly softer as Fed looms – RTRS
  • Dollar flags vs euro and yen, commodities and Fed in focus – RTRS

CFTC Positioning Data:

  • Net short Euro 113k vs 108k previous
  • Net short Yen 62k vs 47k previous
  • Net short British Pound 21k vs 24k previous
  • Net short Aussie Dollar 41k vs 34k previous
  • Net short Canadian Dollar 44k vs 41k previous
  • Net short Kiwi Dollar 16k vs 20k previous
  • Net long Swiss Franc 3k vs 3k previous

Upcoming Events:

  • 09:00 BST – German IFO Business Climate
  • 09:00 BST – Euro Zone M3 Money Supply
  • 13:30 BST – US Core Durable Goods Orders
  • 13:30 BST – US Durable Goods Orders

The Week Ahead (Key Data/Events):

Tuesday, July 28th

  • 08:30 BST – Swedish Retail Sales
  • 09:30 BST – UK GDP
  • 13:30 BST – Canadian RMPI
  • 13:55 BST – US Redbook
  • 14:45 BST – US Services PMI
  • 15:00 BST – US CB Consumer Confidence
  • 15:00 BST – US Richmond Manufacturing Index

Wednesday, July 29th

  • 00:50 BST – Japanese Retail Sales
  • 07:00 BST – German Consumer climate
  • 08:00 BST – Spanish Retail Sales
  • 09:00 BST – Norwegian Unemployment Rate
  • 15:00 BST – US Pending Home Sales
  • 19:00 BST – FOMC Statement
  • 19:00 BST – Federal Reserve Interest Rate Decision

Thursday, July 30th

  • 00:50 BST – Japanese Industrial Production
  • 01:30 BST – RBA Governor Stevens speaks
  • 02:30 BST – Australian Building Approvals
  • 08:00 BST – Spanish GDP
  • 08:00 BST – Spanish CPI
  • 08:30 BST – Swedish GDP
  • 08:55 BST – German Unemployment Rate
  • 10:00 BST – Euro Zone Consumer Confidence
  • 13:00 BST – German CPI
  • 13:30 BST – US GDP
  • 13:30 BST – US Initial Jobless Claims

Friday, July 31th

  • 00:30 BST – Japanese Household Spending
  • 00:30 BST – Japanese CPI
  • 00:30 BST – Japanese Unemployment Rate
  • 02:30 BST – Australian PPI
  • 06:00 BST – Japanese Housing Starts
  • 07:00 BST – German Retail Sales
  • 10:00 BST – Italian CPI
  • 10:00 BST – Euro Zone CPI
  • 13:30 BST – Canadian GDP
  • 14:45 BST – US Chicago PMI
  • 15:00 BST – US Michigan Consumer Sentiment

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