HEFFX Market Update
MARKET PULSE
Forecast: U.S. unemployment declined, while orders for durable goods rose
US Housing Recovery in Full Swing as Sales at Eight-Year High
U.S. futures contracts: 40 % likelihood that the Fed will hike Sep and a 74 % in Dec
The Fed announces its policy decision on July 29.
Greek parliament voted through a second package of creditors’ demands
PM Tsipras urged lawmakers to stop the country being forced out of the EU
New Zealand’s Central Bank cut its interest rateby 25 bp to 3%
Events: Today: U.K. retail sales, Euro-zone consumer confidence
Finns told pay cuts now only way to rescue economy from
Ukraine debt payment tests talks progress as market bets on deal
BOE’s Haldane plays the contrarian to Carney in U.K. rate debate
CAD closes at lowest level in a decade as oil falls
U.S. Treasuries mixed, with 10-year yield steady at 2.322%
Bloomberg commodities Index sank to a 13-year low
Morgan Stanley: worst-case scenario bullion may tumble to $800 an ounce
Morgan Stanley’: Average Gold Price 2015 forecast is $1,190.
Gold last traded below $800 in 2008
Gold holdings in ETFs shrank 4.8 MT to 1,560.7 MT 5th day of declines
WTI crude oil down 3.3% to $49.19/bbl
Copper down 1.9% to $2.428/lb
Managed Funds, Wealth Management
INDIAN INR
MARKETS
INR drops 0.1% to 63.6550 per USD
1-month implied volatility rises 1 bp at 5.0500%; avg for past 12 months. is 6.6888%
INR 1-month forwards fall 0.1% to 63.93 per USD
USD/INR Pivot point at 63.5717;
USD/INR support at 63.5234, 63.4667 and 63.3617
USD/INR resistance broken at 63.6284, next at 63.6767 and 63.7817
USD/INR remains below 50-DMA of 63.7021
FACTORS
Global investors sold net $25m of Indian stocks on July 21
India’s leading stock index Sensex down 0.1%
CapEcon : Expect another 25 bps of cuts with repo rate at 7% at end-2015
FOREIGN EXCHANGE
MARKETS
USD held gains , the dollar Index rose to almost a 4-month high
USD Spot Index was at 1,206.27 from 1,207.85 (March 19 high set on Monday)
USD/JPY +0.02% at 123.99 (range 123.92-124.15)
EUR/USD +0.15% at 1.0945 (range 1.0922-1.0956)
AUD/USD -0.03% at 0.7379 (range 0.7357-0.7393)
NZD/USD +0.90% at 0.6631 (range 0.6570-0.6653)
USD/CAD +0.02% at 1.3036 (range 1.3025-1.3048)
GBP/USD +0.03% at 1.5618 (range 1.5604-1.5625)
USD/CHF -0.10% at 0.9590 (range 0.9583-0.9603)
FACTORS
Forecast: U.S. unemployment declined, while orders for durable goods rose
US Housing Recovery in Full Swing as Sales at Eight-Year High
U.S. futures contracts: 40 % likelihood that the Fed will hike Sep and a 74 % in Dec
The Fed announces its policy decision on July 29.
Greek parliament voted through a second package of creditors’ demands
PM Tsipras urged lawmakers to stop the country being forced out of the EU
New Zealand’s Central Bank cut its interest rateby 25 bp to 3%
Events: Today: U.K. retail sales, Euro-zone consumer confidence
Finns told pay cuts now only way to rescue economy from
Ukraine debt payment tests talks progress as market bets on deal
BOE’s Haldane plays the contrarian to Carney in U.K. rate debate
CAD closes at lowest level in a decade as oil falls
U.S. Treasuries mixed, with 10-year yield steady at 2.322%
GOLD
MARKETS
Gold spot sank to $1,086.18 on Monday, the lowest level since March 2010
Gold spot advanced 0.5 % to $1,099.77 and traded at $1,098.90 in Asian hours
Gold’s 14-day RSI has been below 30 all this week signaling a rebound
Gold Futures for August rose 0.5 % to $1,096.90, snapping a 10-day losing run
China: Gold rose as much as 0.7 % to 220.5 yuan a gram ($1,104.51/ounce) on SGE
Silver spot rose 0.4 % to $14.8622 an ounce
FACTORS
Bloomberg commodities Index sank to a 13-year low
Morgan Stanley: worst-case scenario bullion may tumble to $800 an ounce
Morgan Stanley’: Average Gold Price 2015 forecast is $1,190.
Gold last traded below $800 in 2008
Gold holdings in ETFs shrank 4.8 MT to 1,560.7 MT 5th day of declines
WTI crude oil down 3.3% to $49.19/bbl
Copper down 1.9% to $2.428/lb
The post HEFFX Market Update appeared first on Live Trading News.