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1 Jul 2014
Session Recap: GBP and AUD outperform
FXStreet (Córdoba) - The dollar trades broadly lower against majors, with the main exception of the yen, after a month/quarter-end sell-off left it on the defensive Monday.
The GBP/USD pushed to fresh multi-year highs above 1.7100 and underpinned by better-than-expected UK mfg PMI it peaked at 1.7146, while the EUR/USD is back nearing 1.3700 despite mixed outcomes in Eurozone’s PMIs.
Following month-end flows, investors are now positioning for the ECB meeting and the US nonfarm payrolls figures to be published Thursday. Ahead of the meeting, the EUR/USD has reversed previous meeting’s losses, holding at a striking distance of 1.3700. The Australian dollar is also outperforming following a fairly neutral statement by the RBA.
From a broader view, it seems the market has managed to shrug-off risk aversion even though geopolitical tensions persist.
During the New York session, watch for US Markit and ISM manufacturing PMIs, IBD/TIPP economic optimism and construction spending.
Main Headlines in Europe:
Spain Markit Manufacturing PMI above expectations (52.9) in June: Actual (54.6)
Italy Markit Manufacturing PMI registered at 52.6, below expectations (53.2) in June
France Markit Manufacturing PMI registered at 48.2 above expectations (47.8) in May
Germany: PMI Manufacturing falls to 52 in June
European Monetary Union Markit Manufacturing PMI below expectations (51.9) in June: Actual (51.8)
Germany: Unemployment Rate steady at 6.7% in June
EMU: PMI Manufacturing slightly down to 51.8 in June
European stocks start the quarter higher
BoE publishes Financial Policy Committee meeting records
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
EMU: Unemployment Rate unchanged at 11.6% in June
The GBP/USD pushed to fresh multi-year highs above 1.7100 and underpinned by better-than-expected UK mfg PMI it peaked at 1.7146, while the EUR/USD is back nearing 1.3700 despite mixed outcomes in Eurozone’s PMIs.
Following month-end flows, investors are now positioning for the ECB meeting and the US nonfarm payrolls figures to be published Thursday. Ahead of the meeting, the EUR/USD has reversed previous meeting’s losses, holding at a striking distance of 1.3700. The Australian dollar is also outperforming following a fairly neutral statement by the RBA.
From a broader view, it seems the market has managed to shrug-off risk aversion even though geopolitical tensions persist.
During the New York session, watch for US Markit and ISM manufacturing PMIs, IBD/TIPP economic optimism and construction spending.
Main Headlines in Europe:
Spain Markit Manufacturing PMI above expectations (52.9) in June: Actual (54.6)
Italy Markit Manufacturing PMI registered at 52.6, below expectations (53.2) in June
France Markit Manufacturing PMI registered at 48.2 above expectations (47.8) in May
Germany: PMI Manufacturing falls to 52 in June
European Monetary Union Markit Manufacturing PMI below expectations (51.9) in June: Actual (51.8)
Germany: Unemployment Rate steady at 6.7% in June
EMU: PMI Manufacturing slightly down to 51.8 in June
European stocks start the quarter higher
BoE publishes Financial Policy Committee meeting records
What’s the sentiment around the EUR/USD today? – Commerzbank and OCBC Bank
EMU: Unemployment Rate unchanged at 11.6% in June