Good morning everyone! New week ahead! Here are the #IronFX main points for today by Marshall Gittler: • #Dollar generally weaker as US real interest rates fall – Fixed income markets are unwinding their post-FOMC moves, although #VIX index remains sharply lower and stocks move further into record territory – #Yellen did not seem at all concerned about rising US inflation, but #FX market apparently is aware that #US real interest rates move lower – Next focus points: Yellen speech 2 July, NFP 3 July, #FOMC minutes 9 July • Commodity #currencies outperforming on China #PMI – HSBC/Markit China June PMI 50.8, back above 50 line for first time this year – Copper up sharply, oil continues to rally on Iraq tensions – Commodity currencies performing well, momentum likely to continue today, in my view – #ZAR up further on “breakthrough” on mining strike, details out today • Today: – Eurozone: #Eurozone manufacturing #PMI expected unchanged, service sector expected slightly higher, but composite index expected slightly lower somehow – US: Markit PMI expected to be lower; Chicago Fed national activity index expected to rise, existing home sales for May expected to rise = may be USD-positive Join us for more #Forex news: ironfx/
Posted on: Mon, 23 Jun 2014 05:53:43 +0000
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