MORNING BRIEFING: The EURUSD has stabilized, 1.4432 and 1.4367 are the levels to watch, in expectation of the central banks and the US employment repo

[RTFX-Trading]

MORNING BRIEFING: The EURUSD has stabilized, 1.4432 and 1.4367 are the levels to watch, in expectation of the central banks and the US employment report.

What’s new:
United States: Increase of 3.60% in pending home sales in June.
United States: Household spending up in June.
United States: Personal spending down 1.3% in June.
Euro zone: Producer prices experience record drop in June.


Today:
09h48 France: PMI services July, exp 45.5, previous 47.2.
09h53 Germany: PMI services July, exp 48.4, previous 45.2.
09h58 Euro zone: PMI services July, exp 45.6, previous 44.7.
10h28 United Kingdom: PMI services July, exp 51.8, previous 51.6.
10h30 United Kingdom: Retail Sales June, exp 0.20%, previous -0.40%.
14h15 United States: ADP Employment change July, exp -345'000, previous -473'000.
16h00 United States: Factory Orders June, exp -1.00%, previous 1.20%.
16h00 United States: ISM services July, exp 48.0, previous 47.0.  

Overnight Rates and Indices:
EURUSD: 1.4423 – 1.4389.
USDCHF: 1.0611 – 1.0588.
GBPUSD: 1.6957 – 1.6913.
EURJPY: 137.53 – 136.55.
USDJPY: 95.39 – 94.89.
DowJones: 9'320 +0.36%.
NASDAQ: 2’011 +0.13%.
S&P 500:1’005 +0.30%.
Nikkei: 10’326 -0.47%.
Gold: $964.05.
Crude Oil: $71.31.
 
Comments:

A quiet day yesterday, the EURUSD remained confined in a narrow range between 1.4432 and 1.4367, the GBPUSD between 1.7004 and 1.6889 and USDCHF between 1.0646 and 1.0577. These are the key levels to watch for the day, especially 1.4367 in EURUSD, 1.6889 in GBPUSD and 1.0646 in USDCHF, as if broken could lead to increased volatility.

The market is eagerly awaiting the forthcoming announcements from the ECB and BoE on Thursday, followed by the employment report from the US on Friday. Today, job creation in the US private sector will be published at 14h15 CET and UK retail sales figures are expected at 10h30 CET, which are both important numbers to watch.

Good Day.

Emman Xuereb
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
Tel:  +356 23 31 00 00
Fax: +356 21 41 24 58
Web: www.rtfx.com

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