Global Markets:
- Asian stock markets: Nikkei up 0.05 %, Shanghai Composite fell 4.00 %, Hang Seng declined 1.50 %, ASX gained 0.15 %
- Commodities: Gold at $1173.70 (+0.15 %), Silver at $15.80 (-0.05 %), WTI Oil at $59.68 (-0.05 %), Brent Oil at $63.40 (+0.20 %)
- Rates: US 10 year yield at 2.40, UK 10 year yield at 2.15, German 10 year yield at 0.86
News & Data:
- Japan CPI 0.5 % y/y, Expected: 0.4 %, Previous: 0.6 %
- Japan Core CPI 0.1 % y/y, Expected: 0.0 %, Previous: 0.3 %
- Japan Unemployment Rate 3.3 %, Expected: 3.3 %, Previous: 3.3 %
- Japan Household Spending 2.4 % m/m, Expected: 2.2 %, Previous: -5.5 %
- Japan Household Spending 4.8 % y/y, Expected: 3.4 %, Previous: -1.3 %
- New Zealand Trade Balance NZ$350mln m/m, Expected: -NZ$100mln, Previous: NZ$183mln
- New Zealand Trade Balance -NZ$2.57bln, Expected: -NZ$2.9bln, Previous: -NZ$2.62bln
- Asia stocks fall, euro drifts as Greek crisis deepens – RTRS
- No deal for Greece, creditors; top-level talks resume Saturday – RTRS
- RBNZ: NZ Dollar Persists At Unjustifiable Level
- SNB's Jordan says the central bank can counter franc strength with FX intervention and rates
- SNB's Jordan, speaking to the watch industry, says he will combat the strong franc — BBG
Markets Update:
Asian equity markets are mostly lower this morning, as negotiations between Greece and its creditors failed. A default seems increasingly likely, though there will be another meeting this weekend, so there is still a chance that a deal will be reached. Markets are not very optimistic though, with stocks selling off and the risk-off currencies bid. Overall, it was rather quiet in the FX market during the 24 hours and the lack of economic data today could keep volatility down again.
Upcoming Events:
- 08:30 BST – Swedish Retail Sales
- 08:30 BST – Swedish Trade Balance
- 09:00 BST – Euro Zone M3 Money Supply
- 15:00 BST – US Michigan Consumer Sentiment
- 16:15 BST – Bank of Governor Carney speaks
