Good Morning
The Dow and the S&P could rise on Friday by 0.7 and 0.33%, the Nasdaq fell slightly by 0.06%. Banks were allowed to pay dividends and buy back shares again. Over the weekend there was little movement as rising corona cases in certain areas puts traders on edge and offsets he positive impact that comes from the US Infrastructure package.
The USD Index trades at 91.83. Bitcoin at 34.400 and US 10 year rates at 1.5290. Gold and Silver rose to 1782 and 27.15 and EURUSD fell to 1.1905.
Volatilitiy has fallen to rather low levels, the 1 month Vol in EURUSD trades at 5.07, GBPUSD at 5.72 and Silver has fallen to 25%. Traders are complaining about the lack of movement (compared to the swings last year, it is a little quiet), buying options to be set up for the occasional sharp move like we had in the Fed decision may be worthwhile.
Oil has risen to the highest level since Q3 18 and 75.77 is the next resistance.
Ole Hansens COT Report: The accelerated metal selling that followed the #FOMC meeting drove down #gold longs by 33% to 76k lots, a seven week low and #silver by 36% to 29k while the #platinum (-81%) returned to neutral. #Copper long cut to one-year low. Speculators cut the bullish #grains bets to a 9 month low in week to June 22 with biggest reduction in #soybean (-25%) and bean oil (-22%) followed by #corn. Bucking the trend was #wheat which flipped back to a small net long.
- Didl is closing the books for the IPO a day early.
- UBS Ceo HAmers stated the recently reported job cuts were limited to certain areas and were headcount neutral as staff was being added in other places.
We are approaching a decent number of Futures and CFD expiries this week:
NGN1 will expire 28th June at 15:00 GMT.OJN1 will expire 29th June at 12:15 GMT.
HGN1, KEN1, PLN1, RRN1, SILN1, SIN1, ZCN1, ZLN1, ZMN1, ZSN1, ZWN1 will expire 29th June at 15:00 GMT.
HON1, RBN1, SBN1 will expire 30th June at 15:00
COPPERUSJUL21, CORNJUL21, GASOLINEUSJUL21, HEATINGOILJUL21, PLATINUMJUL21, SILVERJUL21, SOYBEANMEALJUL21, SOYBEANOILJUL21, SOYBEANSJUL21, SUGARNYJUL21, WHEATJUL21 will expire 28th June at 15:00 GMT.
OILUKAUG21 will expire 30th Jun at 15:00 GMT
Local Start Date | Local Time | Country/Region | Indicator Name | Period | Reuters Poll | Unit | 29 Jun 2021 | 01:30 | Japan | Jobs/Applicants Ratio | May | 1.08 | Times | 29 Jun 2021 | 01:30 | Japan | Unemployment Rate | May | 2.9% | Percent | 29 Jun 2021 | 08:00 | United Kingdom | Nationwide house price mm | Jun | | Percent | 29 Jun 2021 | 08:00 | United Kingdom | Nationwide house price yy | Jun | | Percent | 29 Jun 2021 | 11:00 | Euro Zone | Consumer Confid. Final | Jun | | Net balance | 29 Jun 2021 | 13:00 | Brazil | IGP-M Inflation Index | Jun | | Percent | 29 Jun 2021 | 14:00 | Germany | CPI Prelim YY | Jun | 2.3% | Percent | 29 Jun 2021 | 14:00 | Germany | HICP Prelim YY | Jun | 2.2% | Percent | 29 Jun 2021 | 16:00 | United States | Consumer Confidence | Jun | 118.8 | Index | 30 Jun 2021 | 01:50 | Japan | Industrial O/P Prelim MM SA | May | -2.4% | Percent | 30 Jun 2021 | 03:00 | China (Mainland) | NBS Manufacturing PMI | Jun | | Index (diffusion) | 30 Jun 2021 | 08:00 | United Kingdom | GDP QQ | Q1 | | Percent | 30 Jun 2021 | 08:00 | United Kingdom | GDP YY | Q1 | | Percent | 30 Jun 2021 | 08:00 | Denmark | GDP QQ Revised | Q1 | | Percent | 30 Jun 2021 | 08:00 | Denmark | GDP YY Revised | Q1 | | Percent | 30 Jun 2021 | 08:00 | Denmark | Unemployment Rate | May | | Percent | 30 Jun 2021 | 08:45 | France | CPI (EU Norm) Prelim YY | Jun | | Percent | 30 Jun 2021 | 09:00 | Switzerland | KOF Indicator | Jun | | Index (diffusion) | 30 Jun 2021 | 09:00 | Switzerland | Official Reserves Assets CHF | May | | CHF | 30 Jun 2021 | 09:55 | Germany | Unemployment Chg SA | Jun | -16k | Person | 30 Jun 2021 | 09:55 | Germany | Unemployment Rate SA | Jun | 5.9% | Percent | 30 Jun 2021 | 11:00 | Italy | CPI (EU Norm) Prelim MM | Jun | | Percent | 30 Jun 2021 | 11:00 | Italy | CPI (EU Norm) Prelim YY | Jun | | Percent | 30 Jun 2021 | 11:00 | Euro Zone | HICP Flash YY | Jun | 1.9% | Percent | 30 Jun 2021 | 11:00 | Euro Zone | HICP-X F&E Flash YY | Jun | | Percent | 30 Jun 2021 | 12:00 | Italy | CPI (EU Norm) Prelim MM | Jun | | Percent | 30 Jun 2021 | 14:30 | Canada | GDP MM | Apr | | Percent | 1 Jul 2021 | 01:50 | Japan | Tankan Big Mf Idx | Q2 | 15 | Index (diffusion) | 1 Jul 2021 | 01:50 | Japan | Tankan Big Mf Outlook DI | Q2 | 18 | Index (diffusion) | 1 Jul 2021 | 01:50 | Japan | Tankan Big Non-Mf Idx | Q2 | 3 | Index (diffusion) | 1 Jul 2021 | 01:50 | Japan | Tankan All Big Capex Est | Q2 | 7.2% | Percent | 1 Jul 2021 | 01:50 | Japan | Tankan Small Mf Idx | Q2 | -5 | Index (diffusion) | 1 Jul 2021 | 01:50 | Japan | Tankan Sm Mf Outlook DI | Q2 | -3 | Index (diffusion) | 1 Jul 2021 | 01:50 | Japan | Tankan Small Non-Mf Idx | Q2 | -9 | Index (diffusion) | 1 Jul 2021 | 01:50 | Japan | Tankan Sm Non-Mf Outlook DI | Q2 | -8 | Index (diffusion) | 1 Jul 2021 | 01:50 | Japan | Tankan All Sm Capex Est | Q2 | -2.6% | Percent | 1 Jul 2021 | 02:30 | Japan | Jibun Bank Mfg PMI | Jun | | Index (diffusion) | 1 Jul 2021 | 02:30 | South Korea | IHS Markit Mfg PMI | Jun | | Index (diffusion) | 1 Jul 2021 | 03:30 | Australia | Trade Balance G&S (A$) | May | | AUD | 1 Jul 2021 | 03:45 | China (Mainland) | Caixin Mfg PMI Final | Jun | | Index (diffusion) | 1 Jul 2021 | 09:00 | Turkey | Manufacturing PMI | Jun | | Index (diffusion) | 1 Jul 2021 | 09:30 | Sweden | Riksbank Rate | 1 Jul | | Percent | 1 Jul 2021 | 09:45 | Italy | Markit/IHS Mfg PMI | Jun | | Index (diffusion) | 1 Jul 2021 | 09:50 | France | Markit Mfg PMI | Jun | | Index (diffusion) | 1 Jul 2021 | 09:55 | Germany | Markit/BME Mfg PMI | Jun | | Index (diffusion) | 1 Jul 2021 | 10:00 | Euro Zone | Markit Mfg Final PMI | Jun | | Index (diffusion) | 1 Jul 2021 | 10:30 | United Kingdom | Markit/CIPS Mfg PMI Final | Jun | | Index (diffusion) | 1 Jul 2021 | 11:00 | Turkey | ITO Istanbul Retail Prices | Jun | | Percent | 1 Jul 2021 | 11:00 | Euro Zone | Unemployment Rate | May | 7.9% | Percent | 1 Jul 2021 | 14:30 | United States | Initial Jobless Clm | 21 Jun, w/e | | Person | 1 Jul 2021 | 15:00 | Brazil | Markit Mfg PMI | Jun | | Index (diffusion) | 1 Jul 2021 | 15:45 | United States | Markit Mfg PMI Final | Jun | | Index (diffusion) | 1 Jul 2021 | 16:00 | United States | ISM Manufacturing PMI | Jun | 61.0 | Index |
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