Global Markets:
- Asian stock markets: Nikkei up 1.60 %, Shanghai Composite rose 2.30 %, Hang Seng gained 0.15 %, ASX 0.70 % higher
- Commodities: Gold at $1161 (+0.30 %), Silver at $15.50 (+0.15 %), WTI Oil at $51.94 (-1.50 %), Brent Oil at $57.98 (-1.75 %)
- Rates: US 10 year yield at 2.39, UK 10 year yield at 2.09, German 10 year yield at 0.90
News & Data:
- China Trade Balance CNY46.54bln, Expected: CNY55.70bln, Previous: CNY59.49bln
- China Exports 2.8 % y/y, Expected: -0.2 %, Previous: -2.5 %
- China Imports -6.1 % y/y, Expected: -15.0 %, Previous: -17.6 %
- New Zealand FPI 0.5 %, Previous: 0.4 %
- Japanese official says unlikely to change imputed rent in 2016 CPI update: MNI
- Talk that compromise close to being reached in Greece – sticking points are IMF involvement after 2016 and €50bn privatisation fund
- Euro zone argues into the night with Greece on bailout terms – RTRS
- Euro steadies, EU leaders talk Greek compromise – RTRS
- Oil prices fall as Iran nuclear deal seems likely – RTRS
CFTC Positioning Data:
- GBP shorts 22,973 vs 12,759K shorts prior week
- EUR shorts 99,266 vs 99,306 shorts prior week
- JPY shorts 63,629 vs. 78,822 shorts prior week
- CHF long 6,121 vs 6,855 longs prior week
- AUD shorts 22,197 vs 12,031 shorts prior week
- CAD shorts 32,268 vs 23450 shorts prior week
Upcoming Events:
- 14:00 BST – Euro Group Meeting
- 19:00 BST – US Budget Balance
The Week Ahead (Key Data/Events):
Tuesday, July 14th
- 02:30 BST – Australia NAB Business Confidence
- 07:00 BST – German CPI
- 08:00 BST – Spanish CPI
- 08:15 BST – Swiss PPI
- 08:30 BST – Swedish CPI
- 09:00 BST – Italian CPI
- 09:30 BST – UK CPI
- 10:00 BST – German ZEW Economic Sentiment
- 10:00 BST – Euro Zone Industrial Production
- 13:30 BST – US Retail Sales
- 13:55 BST – US Redbook
Wednesday, July 15th
- 01:30 BST – Australia Consumer Sentiment
- 03:00 BST – Chinese GDP
- 03:00 BST – Chinese Industrial Production
- 03:00 BST – Chinese Retail Sales
- 07:30 BST – Bank of Japan Interest Rate Decision
- 07:45 BST – French CPI
- 09:30 BST – UK Average Earnings
- 09:30 BST – UK Unemployment Rate
- 09:30 BST – UK Employment Change
- 13:30 BST – US PPI
- 13:30 BST – US NY Empire State Manufacturing Index
- 15:00 BST – Fed Chair Yellen speaks
- 15:00 BST – Bank of Canada Interest Rate Decision
- 15:00 BST – Bank of Canada Monetary Policy Report
- 16:15 BST – BoC Governor Poloz speaks
- 19:00 BST – US Beige Book
- 20:00 BST – FOMC Member Williams speaks
- 23:45 BST – New Zealand CPI
Thursday, July 16th
- 02:30 BST – Australia NAB Business Confidence
- 06:00 BST – Bank of Japan Monthly Report
- 08:15 BST – Swiss Retail Sales
- 09:00 BST – Italian Trade Balance
- 10:00 BST – Euro Zone CPI
- 10:00 BST – Euro Zone Trade Balance
- 12:45 BST – ECB Interest Rate Decision
- 13:30 BST – US Initial Jobless Claims
- 13:30 BST – ECB Press Conference
- 15:00 BST – Fed Chair Yellen speaks
- 15:00 BST – US Philly Fed Manufacturing Index
- 15:00 BST – US NAHB Housing Market Index
- 19:00 BST – Bank of England Governor Carney speaks
Friday, July 17th
- 13:30 BST – US Building Permits
- 13:30 BST – US CPI
- 13:30 BST – US Housing Starts
- 13:30 BST – Canadian CPI
- 15:00 BST – US Michigan Inflation Expectations
