MORNING BRIEFING: Results from major US companies and economic indicators due this week will determine the trend on Wall Street.

[RTFX-Trading]

MORNING BRIEFING: Results from major US companies and economic indicators due this week will determine the trend on Wall Street.

What’s new?
Crude Oil: Prices drop in NY, worst week since January.
United States: US deficit has narrowed in May, the lowest since late 1999.
United States: Michigan consumer confidence comes in lower in July.
United States: Import prices increase by 3.20% in June.
Berlusconi: G14 could replace G8.
United Kingdom: Sharp drop in producer prices in June.
France: Strong rebound in industrial production after falling for eight months.
ECB: Began its Quantitive easing program.

Today:
09h15 Switzerland: Producer and import prices index M/M June, exp 0.20%, previous -0.30%.
20h00 United States: Federal Budget June, exp -97Bln, previous 33.5Bln.

Overnight Rates and Indices:
EURUSD: 1.3979 – 1.3912.
USDCHF: 1.0883 – 1.0835.
GBPUSD: 1.6217 – 1.6099.
EURJPY: 129.88 – 128.29.
USDJPY: 92.95 – 92.21.
DowJones: 8'146 -0.45%.
NASDAQ: 1’756 +0.20%.
S&P 500: 879 -0.40%.
Nikkei: 9’079 -2.24%.
Gold: $911.45
Crude Oil: $59.18
 
Comments:

This week will be characterized by the quarterly results from the United States and a series of important economic indicators. The main economic indicators are US retail sales for June on Tuesday, retail prices and industrial production for June on Wednesday, entries to unemployment and housing starts on Thursday. The leading companies such as BoA, Intel and General Electric will publish quarterly results. Any bad surprises might encourage the market to continue the downward trend started in early June and to transform it into a downward spiral. A very important week in my opinion.

Have a nice week.

Emman Xuereb
RTFX Ltd
Head Office

Level 2, Suite 2, The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
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