Re: Hotforex.com - Market Analysis and News.
Publié : 07 juin 2017, 11:30
Date : 7th June 2017.
MACRO EVENTS & NEWS OF 7th June 2017.
FX News Today
European Outlook: Asian stock markets are mostly posting modest gains. Japanese indices managed to recover losses as the Yen dipped. Mainland Chinese markets outperformed and rallied led by consumer shares. After underperforming recently amid government efforts to boost deleveraging, it seems there is some value buying in the CSI 300, which is up 1.22%, while the Hang Seng is up a mere 0.01% and ASX and Nikkei around 0.20%. U.K. and U.S. futures are also higher and the move back into stocks could see yields coming up from yesterday’s lows. However, investors are likely to remain cautious and take a wait and see stance ahead of tomorrow’s ECB meeting, U.K. election and Comey testimony in the U.S. Today’s calendar will start U.K. house price data and Italian retail sales as well as the OECD’s economic outlook for the Eurozone.
FX Update: The dollar found its feet against most currencies, firming up modestly from recent lows. USDJPY settled around 109.50 in Tokyo after logging a six-week high at 109.22 yesterday, which was the culmination of a three-session tumble from the upper 111.0s. EURUSD ebbed to around 1.1260-65. AUDUSD was an exception to the dollar-finding-a-footing story, as the Aussie buck rallied on the release of the Australian Q1 GDP report, which came in with 0.3% q/q growth, well off the 1.1% q/q growth seen in the previous quarter and matching economists’ median expectation, although there had been some market fears of a negative print (following weak retail sales and capex data over the quarter). The Australian economy hasn’t seen a recession in 103 quarters now (just one quarter shy of 26 years), which apparently matches the Netherland’s growth run (according to Reuters). AUDUSD gained 0.5% in making a 0.7543 peak, which is the loftiest level seen since May 2.
German April manufacturing orders clumped -2.1% m/m, more than anticipated and driven mainly by a -3.4% m/m drop in export orders. After two very strong months, the correction, still saw the annual rate jumping to 3.3% y/y from 2.4% y/y. So again something for both the doves and the hawks at the ECB to argue with, especially as confidence data for May already suggest a rebound ahead.
US Reports: U.S. JOLTS 259k up to 6,044k in April, a new record high, after rising 103k to 5,785k in March. The job opening rate rose to 4.0% from 3.8%. Openings are up 401k from a year ago. However, hirings dropped 253k to 5,051k following a 55k gain to 5,304k. The rate slid to 3.5% from 3.6%. That could be a function of a lack of skilled labor. Meanwhile, separations declined 225k to 4,973k after bouncing 190k to 5,198k previously. The rate dropped to 3.4% from 3.6%. Also, quitters declined 111kk to 3,027k after rebounding 102k to 3,138k. The rate also dipped to 2.1% from 2.2% (revised from 2.1%). The mix of data support notions of a strong labor market.
Main Macro Events Today
UK House Prices – May’s Halifax bank of Scotland will be released today the change in house prices, which is expected to be unchanged quarterly and monthly as well.
US Consumer Credit – April consumer credit is expected to increase $17.0 bln after an $16.4 bln gain in March. Increases in non-revolving credit are leading the largest series of gains since 2001. Market risk is minimal, as consumer credit data is typically ignored by the market.
Oil Inventories – Oil inventories from US will be out today as well and expected to reduce to -3.4M from -6.4M last week.
Canadian Building Permits – Building permits values are projected to rebound 2.4% m/m in April after the 5.8% drop in March.
Japanese GDP – Japan revised Q1 GDP is likely to be revised slightly higher at 0.6% from 0.5% given the stronger than expected capex. April current account and May bank lending are also on tap, with the latter having held at 3.0% y/y over the past couple of months.
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Please note that times displayed based on local time zone and are from time of writing this report.
Click HERE to access the full HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!
Click HERE to READ more Market news.
Andria Pichidi
Market Analyst
HotForex
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
MACRO EVENTS & NEWS OF 7th June 2017.
FX News Today
European Outlook: Asian stock markets are mostly posting modest gains. Japanese indices managed to recover losses as the Yen dipped. Mainland Chinese markets outperformed and rallied led by consumer shares. After underperforming recently amid government efforts to boost deleveraging, it seems there is some value buying in the CSI 300, which is up 1.22%, while the Hang Seng is up a mere 0.01% and ASX and Nikkei around 0.20%. U.K. and U.S. futures are also higher and the move back into stocks could see yields coming up from yesterday’s lows. However, investors are likely to remain cautious and take a wait and see stance ahead of tomorrow’s ECB meeting, U.K. election and Comey testimony in the U.S. Today’s calendar will start U.K. house price data and Italian retail sales as well as the OECD’s economic outlook for the Eurozone.
FX Update: The dollar found its feet against most currencies, firming up modestly from recent lows. USDJPY settled around 109.50 in Tokyo after logging a six-week high at 109.22 yesterday, which was the culmination of a three-session tumble from the upper 111.0s. EURUSD ebbed to around 1.1260-65. AUDUSD was an exception to the dollar-finding-a-footing story, as the Aussie buck rallied on the release of the Australian Q1 GDP report, which came in with 0.3% q/q growth, well off the 1.1% q/q growth seen in the previous quarter and matching economists’ median expectation, although there had been some market fears of a negative print (following weak retail sales and capex data over the quarter). The Australian economy hasn’t seen a recession in 103 quarters now (just one quarter shy of 26 years), which apparently matches the Netherland’s growth run (according to Reuters). AUDUSD gained 0.5% in making a 0.7543 peak, which is the loftiest level seen since May 2.
German April manufacturing orders clumped -2.1% m/m, more than anticipated and driven mainly by a -3.4% m/m drop in export orders. After two very strong months, the correction, still saw the annual rate jumping to 3.3% y/y from 2.4% y/y. So again something for both the doves and the hawks at the ECB to argue with, especially as confidence data for May already suggest a rebound ahead.
US Reports: U.S. JOLTS 259k up to 6,044k in April, a new record high, after rising 103k to 5,785k in March. The job opening rate rose to 4.0% from 3.8%. Openings are up 401k from a year ago. However, hirings dropped 253k to 5,051k following a 55k gain to 5,304k. The rate slid to 3.5% from 3.6%. That could be a function of a lack of skilled labor. Meanwhile, separations declined 225k to 4,973k after bouncing 190k to 5,198k previously. The rate dropped to 3.4% from 3.6%. Also, quitters declined 111kk to 3,027k after rebounding 102k to 3,138k. The rate also dipped to 2.1% from 2.2% (revised from 2.1%). The mix of data support notions of a strong labor market.
Main Macro Events Today
UK House Prices – May’s Halifax bank of Scotland will be released today the change in house prices, which is expected to be unchanged quarterly and monthly as well.
US Consumer Credit – April consumer credit is expected to increase $17.0 bln after an $16.4 bln gain in March. Increases in non-revolving credit are leading the largest series of gains since 2001. Market risk is minimal, as consumer credit data is typically ignored by the market.
Oil Inventories – Oil inventories from US will be out today as well and expected to reduce to -3.4M from -6.4M last week.
Canadian Building Permits – Building permits values are projected to rebound 2.4% m/m in April after the 5.8% drop in March.
Japanese GDP – Japan revised Q1 GDP is likely to be revised slightly higher at 0.6% from 0.5% given the stronger than expected capex. April current account and May bank lending are also on tap, with the latter having held at 3.0% y/y over the past couple of months.
Always trade with strict risk management. Your capital is the single most important aspect of your trading business.
Please note that times displayed based on local time zone and are from time of writing this report.
Click HERE to access the full HotForex Economic calendar.
Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE!
Click HERE to READ more Market news.
Andria Pichidi
Market Analyst
HotForex
Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.