- China appoints Pan Gongsheng as new PBOC governor
- Eurozone firms‘ demand for credit falls to lowest on record in Q2 – ECB survey
- Germany July Ifo business climate index 87.3 vs 88.0 expected
- UK July CBI trends total orders -9 vs -18 expected
- AUD/USD keeps the early week bounce going
Markets:
- AUD leads, EUR lags on the day
- European equities a touch higher; S&P 500 futures up 0.1%
- US 10-year yields up 4.3 bps to 3.900%
- Gold up 0.1% to $1,956.83
- WTI crude up 0.2% to $78.87
- Bitcoin down 0.1% to $29,120
It was a quiet session as markets are preparing themselves for a host of major central bank decisions to come later this week. The first of which will be the FOMC meeting tomorrow.
In light of that, there was little appetite among traders in Europe today with light changes all across the board. The dollar is keeping steady with the euro still feeling the hangover from yesterday’s PMI slump.
EUR/USD remains little changed, down slightly to 1.1045 on the day. The rest of the other dollar pairs showed extremely little poise, with USD/JPY keeping flattish around 141.40 levels through the session.
The aussie is up slightly, benefiting from the stronger Chinese yuan today. But even AUD/USD is up just 0.3% to 0.6760 and still limited by key near-term technical levels.
In the equities space, European stocks are not doing a whole lot and US futures are also mostly little changed. Tech shares are up slightly so we’ll see if that can carry sentiment when Wall Street enters later.
This article was written by Justin Low at www.forexlive.com.