The focus for Asia today I reckon might feature a EUR response to the ECB story overnight: then follow-up And I posted some responses here: — Barclays now, but not on the ECB, a note overnight on Australia and the RBA:
S&P and Nasdaq move above 100 and 200 hour MAs today For the NASDAQ index, the price si up 58.7 points or 0.78% at 7645. The price has moved above the: For the S&P index, it too is trading at highs. It is up 12.76 points currently or 0.47% at 2749. In its move higher…
The latest tracking estimate from the Atlanta Fed The Atlanta Fed trimmed its economic growth tracker. “Since the last GDPNow update on Monday, July 2, the nowcasts of second-quarter real consumer spending growth and second-quarter real gross private domestic investment growth have declined from 2.9 percent and 7.1 percent, respectively, to 2.7 percent and 6.0…
However, that is not the current expectations. USDMXN tests 200 day MA after breaking the 100 day MA earlier. Although it is not the current expectations, S&P is saying that they could lower Mexico’s rating if there is a retreat from NAFTA.
Cable up 53 pips Cable has wiped out the drop from yesterday that came on a report that German officials had brushed aside Theresa May’s latest Brexit plan. The climb was helped by today’s UK data showing unit labor costs jumping to 3.1% y/y from 2.1% and broad dollar weakness after non-farm payrolls.
USD/CAD swings lower again What a mess on the USD/CAD intraday chart. The dual jobs and trade balance reports from Canada and the US has been too much for the market to digest at once.
Trend line and 200 bar MA on 4-hour chart The USDCAD fell to a lower trend line and 200 bar MA on the 4-hour chart after the employment data today. Canada employment was better than expectations. The US jobs report was good but mixed vs expectations.
Elliott Management takes over AC Milan Storied Italian football team has been taken over by Elliott Management after owner Li Yonghong defaulted on debt owned by the hedge fund.
Forex news for NY trading on July 6, 2017 In other markets as the week comes to a close shows: – spot gold down $3 or -0.24% at $1254.84. – WTI crude oil futures of $.86 or 1.18% at $73.80 In the US stock market:
Trade war? What trade war? The US stocks cheered the favorable jobs report and ignored the trade war that started between the US and China at the tick of midnight with matching $34B of tariffs on traded goods. Trump has said he will impose tariffs on another $16B shortly and China is said to likely…