Posted at 29 June 2020 / Categories Market Roundups
• Finnish June Consumer Confidence -3.9, -9.0 previous
• Finnish June Industrial Confidence -24 , -26 previous
• Spanish CPI (YoY) -0.3%,-0.9% previous
• Spanish CPI (MoM) 0.5%,0.0% previous
• Spanish HICP (MoM) 0.4%,0.1% previous
• Spanish June HICP (YoY) -0.3%,-0.5% forecast, -0.9% previous
• UK Net Lending to Individuals -3.4B, -6.9B previous
• UK M4 Money Supply (MoM) 2.0%, 1.5% previous
• UK May Mortgage Approvals 9.27K, 25.00K forecast, 15.85K previous
• UK May BoE Consumer Credit -4.597B, -2.500B forecast, 15.851B previous
• UK May Mortgage Lending 1.22B, -1.00B forecast, 0.29B previous
• EU June Selling Price Expectations -4.4, -8.6 previous
• EU June Services Sentiment -35.6, -25.4 forecast, -43.6 previous
• EU June Consumer Inflation Expectation 21.6, 28.6 previous
• EU June Industrial Sentiment -21.7, -20.0 forecast, -27.5 previous
• EU June Business and Consumer Survey 75.7 forecast, 80.0 forecast, 67.5 previous
• EU June Consumer Confidence -14.7, -14.7, -18.8 previous
• EU June Business Climate -2.26, -2.43 previous
• Belgium June CPI (YoY) 0.60%,0.48% previous
• Belgium June CPI (MoM) 0.06%,0.07% previous
• Irish May Retail Sales (YoY) -26.6% , -43.3% previous
• German June HICP (YoY) 0.9%, 0.6% forecast, 0.5% previous
• German June HICP (MoM) 0.6%, 0.4% forecast, 0.4% previous
• German June CPI (MoM) 0.7%, 0.3% forecast, -0.1% previous
• German June CPI (YoY) 0.8%, 0.6% forecast,0.6% previous
• Canada May Building Permits (MoM) 20.2%, -17.1% previous
• Canada May IPPI (MoM) 1.2%, -2.3% previous
• Canada May RMPI (YoY) -24.3%, -36.7% previous
• Canada May IPPI (YoY) -4.9%, -6.0% previous
• Canada May RMPI (MoM) 16.4%, -13.4% previous
Looking Ahead – Economic data (GMT)
• 14:00 US May Pending Home Sales (MoM) 18.9% forecast, -21.8% previous
• 14:00 US May Pending Home Sales Index 69.0 previous
• 14:30 US June Dallas Fed Mfg Business Index -49.2 previous
EUR/USD: The euro rose against dollar on Monday as dollar dipped as surging coronavirus cases kept economic optimism in check. The relentless spread of the coronavirus intensified investor fears about a delay in global economic recovery and weighed on risk appetite. The outlook for a global economic recovery over the past month has worsened or at best stayed about the same. Immediate resistance can be seen at 1.1291 (23.6% fib), an upside break can trigger rise towards 1.1378 (Higher BB).On the downside, immediate support is seen at 1.1215 (Daily low ), a break below could take the pair towards 1.1161(38.2% fib).
GBP/USD: Sterling gained against the dollar on Monday after Prime Minister Boris Johnson signalled he would double down on plans to increase public investment, but Brexit risks capped the gains. Speaking in a radio interview, Johnson said that a return to austerity would be a mistake as the country tries to recover from the coronavirus hit to the economy. The pound gained versus a weakening dollar at $1.2340 at 1230 GMT after the greenback retreated from a one-week high hit on Friday against a basket of currencies, with investors fearing a fresh coronavirus wave in the United States. Immediate resistance can be seen at 1.2446 (June 26th June ), an upside break can trigger rise towards 1.2516 (38.2% fib).On the downside, immediate support is seen at 1.2307 (50% fib), a break below could take the pair towards 1.2213 (Lower BB).
USD/CHF: The dollar dipped against the Swiss franc on Monday as the relentless spread of the coronavirus in the U.S. curbed optimism over the global economy and raised worries that some reopening plans. The global death toll from COVID-19 reached half a million on Sunday. The dollar fell against a basket of currencies in the Asia session, recovered briefly in early London trading, before extending falls, down 0.3% at 97.19.Having fallen more than 1% this month, the dollar is on track for its biggest monthly loss since December 2019.Cases surged in Southern and Western U.S. states, prompting California to order some bars to close in the first major rollback of efforts to reopen the economy. Immediate resistance can be seen at 0.9482 (Daily high), an upside break can trigger rise towards 0.9538 (50% fib).On the downside, immediate support is seen at 0.9449 (38.2% fib), a break below could take the pair towards 0.9403 (Lower BB).
USD/JPY: The dollar firmed against the Japanese yen Monday as dollar kept Japanese yen under pressure as a surge in coronavirus cases and the re-imposition of curbs to stop its spread had investors worried that a global economic recovery could be derailed even before it had taken root. Against a basket of currencies the dollar was steady not far below a four-week peak on Monday at 97.466. The safe-haven Japanese yen last held at 108.34 per dollar. Strong resistance can be seen at 107.55 (38.2% fib), an upside break can trigger rise towards 108.06 (38.2 % fib).On the downside, immediate support is seen at 107.06 (11 DMA), a break below could take the pair towards 106.76 (50% fib).
European shares turned lower on Monday, led by losses in energy and consumer companies, as a spike in coronavirus cases globally kept investors on edge.
At (GMT 12:15),UK's benchmark FTSE 100 was last trading up at 0.52 percent, Germany's Dax was down by 1.25 percent, France’s CAC finished was down by 1.63 percent.
Gold prices steadied on Monday, within striking distance of last week’s near eight-year high and on track for their biggest quarterly rise in more than four years, as a spike in global coronavirus cases unnerved investors.
Spot gold was little changed at $1,769.77 per ounce by 1148 GMT, but only $9.30 shy of its highest since Oct 2012 hit last Wednesday.U.S. gold futures rose 0.2% to $1,784.40 per ounce.
Oil prices rose on Monday, supported by improving economic data and supply cuts by major producers, though a spike in new coronavirus infections around the world capped the gains as some countries were forced to reimpose partial lockdowns.
Brent crude rose 52 cents, or 1.3%, to $41.54 a barrel by 1215 GMT, and U.S. crude was up 60 cents, or 1.6%, at $39.09. Both contracts had fallen almost $1 earlier in the session.