Market Overview - Page 597

At 07:55 GMT, German Markit Services PMI (Jun) will be out with an expected headline number of 53.9 against 53.9 previously. After reaching a multi-year high in February at 57.3, this data has come back into its range under 56.0..

On a holiday shortened trading day the tones coming from the last 24 hours of trading have suggested a risk off attitude as Gold finds support around the 1240.00 area and Equities pare some of Monday’s gains. The Japanese Yen.

At 08:30 GMT, UK Construction PMI (Jun) will be out with an expected headline number of 52.0 from a prior number of 52.5. The consensus is for the numbers today to remain in line with expectations after the data stabilized.

The RBA left rate on hold at 1.5% for Australia saying that inflation is likely to remain slow for some time, household consumption remains a source of uncertainty while low wage growth is likely to continue for some time. AUDUSD.

Political tension in Germany is dominating the headlines as we start a new week. The EU Immigration deal reached last week gave a short term boost to the risk on side but now that the dust has settled cracks have.

At 07:55 GMT, German Markit Manufacturing PMI (May) is expected to be 55.9 against the previous 55.9. This data peaked in January at 63.3, when it exceeded the 2011 high of 62.7 and has been falling lower since. The data.

Risk on sentiment returned briefly yesterday as markets retraced some of Monday’s selloff but sentiment in Asia has declined overnight. The PBOC cut the onshore reference rate for the Yuan as trade tensions escalate, in an effort to stay ahead.

Over the weekend President Trump indicated that if trade barriers and tariffs against the US were not removed that he would have no choice but to add further sanctions against those countries targeting the US. Meanwhile China and the EU.

At 08:00 GMT, ECB’s Lautensclager is due to speak today. EUR crosses can be impacted by any comments made. At 09:30 GMT, ECB’s Coeure is due to chair a discussion on the Macroeconomics of price and wage setting. EUR crosses.

Markets are taking a breath right now and retracing some of the moves over the past number of sessions. Whether this turns into a broader rally or the selloff is resumed remains to be seen. Stock markets are higher after.

At 08:00 GMT, ECB President Mario Draghi is due to speak at the ECB Forum on Central Banking, in Portugal. EUR crosses can be impacted by any comments made. At 08:30 GMT, ECB’s Praet is due to chair a discussion.

While there was risk yesterday from Central Bankers very little was said to move the market. Instead the Trade War narrative boiled up again with the latest headlines that US President Trump is planning to impose an additional $200Bn in.