Market Roundup
- Slovak FinMin: Eurogroup agreed to wait until after Greek referendum before further talks
- Greece's Varoufakis: govt will to accept strict measures if debt is sustainable
- Germany's Merkel: no talks on new Greek bailout before referendum
- Germany's Gabriel says Europe will find solutions after Greek referendum
- Atlanta Fed's GDPNow U.S. on track to grow 2.2 pct in second quarter
- US ADP National Emp Jun 237.0k, f/c 218k, +203k-prev
- US Markit Mfg PMI Final Jun 53.6, 53.4-prev
- Germany's Schaeuble: unclear if can agree new Greek aid before July 20
- ECB maintains its current ELA level for Greece
- EU's Dombrovskis says commission saw strong case to accelerate banking union, EU ready to do whatever it takes to ensure financial stability
- BOE's Carney possible that low interest rate environment will continue for quite some time
Looking Ahead - Economic Data (GMT)
- 23:50 JP Foreign Bond Investment w/e -892.8b-prev
- 23:50 JP Foreign Invest JP Stock w/e -253.9b-prev
- 01:30 AU Trade Balance G&S (AUD) May f/c -2200m, -3888m-prev
- 01:30 AU Goods/Services Imports* May 4.00%-prev
- 01:30 AU Goods/Services Exports May -6.00%-prev
Looking Ahead - Events, Other Releases (GMT)
No Significant Events
Currency Summaries
EUR/USD
Euro continues to declines against its major competitors amid Greece crisis, in addition to that US Dollar getting a head start ahead of Nonfarm payrolls. Little bounce can likely be seen, in Asian market as the market awaits NFP today.
Currently, the pair is trading at 1.1052, down 0.77%, the pair hit high at 1.1172 and low at 1.1043. it is expected decline further towards 1.0970 and 1. resistance sits near 1.1144, a break above this level would take it to upside to next resistance level at 1.1204 on the flipside immediate resistance can be seen at 1.0970 (23.6 retracement level).
GBP/USD
The Cable is on the back foot after weak UK Manufacturing PMI data, it continued to decline lower after US data beat the expectations. GBP/USD bounced off near 1.5589 and has stayed put, Downtrend is set to start soon one it reaches below 1.5560 which will be followed by moving down to support level 1.5490 and later 1.5415.
USD/CHF
USD/CHF started the month with a bullish tone and is all set to move towards 0.9500 psychological level pair has been moving higher after breaking strong resistance level at 0.9425. Recently it rose further and hit 0.9482, the pairs highest level since three weeks. With the MACD,RSI showing buy signal, the recent rally could easily stretch further. Among the European currencies USD/CHF is the most interesting pair to watch, as it has weakest against almost all the European currencies we see strong NFP data today the pair can surge and reach 0.9550.
AUD/USD
The Australian is broadly lower against its U.S. counterpart after upbeat US data and also increased demand for US dollar as safe heaven due to Greece debt concerns.
AUD/USD hit 0.7660, the pair's highest level for the day and later pair subsequently fell back to test support level at 0.7630. Market talk from global political and monetary policy officials regarding Greece and the EU and more importantly NFP ahead in the day keeps bearish pressure on AUD/USD.
