-
Tuesday on the global markets was rather calm and uneventful, mostly due to absence of US traders who were off to celebrate Independence Day
-
There was no Wall Street stock trading session today and US index futures traded sideways in a shortened trade
-
European stock market indices traded mixed today. Gains were made by indices from the Netherlands, Belgium and Austria while indices from Germany, the United Kingdom, France, Spain and Italy dropped
-
UK Prime Minister Sunak said that fiscal and monetary policy will be used fully on inflation
-
Financial Times reported that China is preparing retaliatory sanctions on the United States in response to recent restrictions on AI chips
-
AUD dropped after the Reserve Bank of Australia left the cash rate unchanged at 4.10% at a meeting today. However, RBA warned that policy may need to be tightened further in the near future. AUD managed to recover later on
-
German exports dropped 0.1% MoM in May (exp. +0.4% MoM) while imports were 1.7% MoM higher (exp. 0.0% MoM). Trade balance for May reached €14.4 billion (exp. €17.3 billion)
-
Canadian manufacturing PMI dropped from 49.0 to 48.8 in June (exp. 49.5)
-
Commodities benefitted from limited USD volatility and overall weaker USD. Precious metals gained 0.2-0.4% while oil was trading 1.5% higher and natural gas jumped 2%
-
AUD and NZD are the best performing G10 currencies while EUR, USD and CHF are the biggest laggards
OIL traded higher today and once again tested a resistance zone ranging below $76.40 per barrel. Bulls failed to break above but the price remains above $76 per barrel. Source: xStation5