Commitment of traders report (COT): Copper investors run to the exit
If copper truly is a barometer of economic health, then it is worth noting that large speculators were their most bearish on copper futures since March 2020 last week.
European Open: DAX retests 13k, UK GDP and German retail sales up next
Despite a false break of 13k last week, I see the potential for the DAX to continue lower and break that key level.
China’s manufacturing and services sectors expanded in June
Data from NBS (National Bureau of Statistics) expanded for the first month in four as lockdown restrictions were eased.
European Open: Keep an eye on Germany's Regional CPI’s
The first (of several) regional inflation reports for Germany came in soft this morning, and that could be a lead for Germany’s broad CPI released at lunch today.
European Open: Gold remains rangebound, $112 pivotal for WTI
Gold remains stuck in a choppy range which makes it more appealing for range-trading strategies, whilst WTI has risen to a 5-day high and probes a key resistance zone.
Another US business sentiment report flashes red ahead of the ISM
The Texas Fed Business Outlook Survey is the latest regional report for the US to send warning signals for the US economy.
European Open: 7300 in focus for FTSE bulls
Equity markets continued to rally in Asia as we approach the quarter end. And with futures markets also pointing higher then perhaps they can help the FTSE make it was to 7300.
European Open: DAX sits at key support ahead of the German IFO report
We’re watching how the DAX holds up for today’s IFO report – given it saw ‘no signs of a recession’ in May and markets now fear a global recession.
European Open: Volatile trade for yen pairs, PMI’s up next
The Japanese yen was broadly higher overnight on comments from a former FX and a report showing foreign investors fled the bond market last week.
The Fed’s mention of a recession weighs on oil prices
With global growth downwardly revised and the Fed being more open of a recession, lower oil prices and its impact on inflation expectations is a key theme to watch.
European Open: Sentiment falters ahead of the open
US futures and Asian indices partially handed back some of yesterday’s gains and oil touched a 1-month low as yesterday’s optimism shows early signs of petering out.