Global Markets:
- Asian stock markets: Nikkei up 0.60 %, Shanghai Composite rose 0.04 %, Hang Seng rose 0.41 %, ASX 200 gained 0.90 %
- Commodities: Gold at $1262.80 (-0.14 %), Silver at $16.24 (-0.06 %), WTI Oil at $49.42 (-0.32 %), Brent Oil at $52.25.10 (-0.32 %)
- Rates: US 10 year yield at 2.26, UK 10 year yield at 1.17, German 10 year yield at 0.46
News & Data:
- NZD inflation Expectations q/q 2.1 % vs 2.2 % previous
- JPY Leading Indicators vs 104.6 % expected
- CAD Employment Change 10.9 K vs 13.1 K expected
- CAD Trade Balance -3.6 B vs -1.3 B expected
- CAD Unemployment rate 6.3 % vs 6.5 % expected
- USD Non- Fam Employment Change(NFP) 209 k vs 182 K expected
- USD Unemployment rate 4.3 % vs 4.3 % expected
CFTC Positioning Data:
- EUR long 83K vs 91K long last week. Longs cut by 8K
- GBP short 29K vs 26K short last week. Shorts increased by 3K.
- JPY short 112K vs 121K short last week. Shorts trimmed by 9K
- CHF short 1K vs 2K short last week. Shorts trimmed by 1K
- CAD long 41K vs 27K short. CAD longs increased by 14K.
- AUD long 61k vs 56k last week. Longs increased by 5K.
- NZD long 35K vs 35K long last week. No change from the prior week
Markets Update:
Asian stocks opened in positive after U.S. hiring data bolstered optimism about economic growth in the world’s largest economy.
The US dollar maintained its gains on Monday following a strong climb on Friday after data showed U.S. nonfarm payrolls rose by 209,000 jobs last month, and June’s employment gain was revised higher.
AUD/USD was marginally up after having trimmed some of its losses following a drop of about 0.7 percent last week against the broadly higher dollar.
GBP/USD little changed at $1.3055. Friday’s dollar surge deepened losses for sterling, which was already on the back foot after the Bank of England kept rates unchanged on Thursday and delivered a dovish message.
NZD/USD was held in check by some AUD/NZD buying (small, but enough), keeping below 0.7415 for much of the session and straddling the figure.
Upcoming Events:
- 07:15 GMT – (CHF) CPI m/m
- 07:30 GMT – (GBP) Halifac HPI m/m
- 17:25 GMT – FOMC Member Kashkari Speaks
The Week Ahead:
Tuesday, August 08th
- 01:30 GMT – (AUD) NAB Business Confidence
- 14:00 GMT – (USD) Jolts Job Openings
- 22:35 GMT – (AUD) RBA Assist Gov Kent Speaks
Wednesday, August 09th
- 01:30 GMT – (CNY) CPI & PPI y/y
- 12:30 GMT – (CAD) Building Permits m/m
- 14:30 GMT – (USD) Crude Oil Inventories
- 21:00 GMT – (NZD) Official Cash Rate
- 21:00 GMT – (NZD) RBNZ Rate Statement
- 21:00 GMT – (NZD) RBNZ Press Conference
Thursday, August 10th
- 01:10 GMT – (NZD) RBNZ Gov Wheeler Speaks
- 08:30 GMT – (GBP) Manufacturing Production m/m
- 12:30 GMT – (USD) Unemployment Claims
- 12:30 GMT – (USD) PPI m/m
- 23:30 GMT – (AUD) RBA Gov Lowe Speaks
Friday, August 11th
- JPY Bank Holiday
- 12:30 BST – (USD) CPI m/m
- 12:30 BST – (USD) Core CPI m/m
