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- Trading day in one post 06.07.2017
Trading day in one post 06.07.2017
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Loading...There’s a reluctance to add to risk positions ahead of testimony Thursday from former FBI Director James Comey, the ECB’s policy decision and the U.K. election. Treasuries climbed as Bloomberg reported China is prepared to buymore of the notes. The Bloomberg Dollar Spot Index fell to an eight month low. Asian equity-index futures pointed to a mixed start after the S&P 500 Index fell the most since mid-May. Gold remained at a seven-month high.
Japanese stocks fell, following S&P 500, which made it's biggest lost since mid-May.
Japanese Topix lost -0.1%, declining for a third straight day. Aussie's ASX 200 slumped with -0.2% to it's lowest level since February. South Korean Kospi fell short with -0.1%. Shanghai Composite gained 0.8%.
Economic calendar
09:00 Germany - Factory Orders
10:30 UK - Halifax House Price Index
14:00 USA - MBA 30-Year Mortgage Rate
14:00 USA - MBA Purchase Index
15:30 Canada - Building Permits
17:00 USA - Crude Oil Inventories
17:30 USA - Gasoline Production
22:00 USA - Consumer Credit
AUD - Australia's dollar climbed as much as 0.37 percent. This came after the nation's gross domestic product expanded 1.7% from a year earlier, compared with a forecast 1.6% increase. Quarter over quarter, Australia's GDP came in as expected.
Indices - S&P 500 futures edged higher with 0.1% during the night session, after declining with 0.3% in Tuesday. Investors adopted a cautious stance ahead of a barrage of events due in the next 48 hours.
JPY - The Yen fell with less than 0,1% to 109.48 against the dollar, after climbing with 0.9% in Tuesday. The short term increase is expected to continue, due to the potential political risks, set to unveil during the so called "Super Thursday".
EUR/GBP - We remain long on the currency pair. That seems to be the best way to play the upcoming ECB meeting and U.K. elections. The ECB is likely to change the wording to highlight the improvement in the European economy. On the other hads, despite recent polls, May is likely to win with an increased majority in parliament, reshuffle the cabinet and pursue a harder Brexit.
Jr Trader Alexander Kumanov
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