Monday 15th June: European Open Briefing

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Global Markets:

  • Asian stock markets: Nikkei down 0.60 %, Shanghai Composite lost 1.55 %, Hang Seng declined 1.35 %, ASX fell 0.40 %
  • Commodities: Gold at $1181 (+0.15 %), Silver at $15.88 (+0.35 %), WTI Oil at $60.20 (-0.30 %), Brent Oil at $64.40 (-0.40 %)
  • Rates: US 10 year yield at 2.34, UK 10 year yield at 1.99, German 10 year yield at 0.85

News & Data:

  • Greece and creditors fail in 'last attempt' to reach deal – RTRS
  • Asian Stocks Drop With Euro as Greek Talks Fail; Treasuries Rise  – BBG
  • ECB’s Praet: ECB Wants Greece To Remain In Euro
  • IMF’s Blanchard: Greece: A Credible Deal Will Require Difficult Decisions By All Sides
  • German EconMin Gabriel Warns Of Grexit With EU Patience Running Out
  • WSJ’s Hilsenrath: Fed Hones Tricky Message As It Nears Boosting Rates
  • UK's Credit Outlook Downgraded To 'Negative' By S&P On EU Referendum Risk
  • China & Australia May Sign Free-Trade Pact Soon – Securities Journal
  • New Zealand Economists Lower 2016 & 2017 GDP Forecasts — NZIER
  • New Zealand To Join AIIB

CFTC Positioning Data:

  • EUR net short 138K vs. short 166K prior
  • JPY net short  116K vs. short 85K prior
  • GBP net short 28K vs. short 26K prior
  • AUD net  short 14K vs short 13K prior
  • CAD net short 14K vs short 1K prior
  • CHF net long 10K vs. long 8K prior

Upcoming Events:

  • 08:00 BST – German Central Bank President Weidmann speaks
  • 08:15 BST – Swiss Retail Sales
  • 08:15 BST – Swiss PPI
  • 08:30 BST – Swedish Unemployment Rate
  • 09:00 BST – Italian CPI
  • 10:00 BST – Euro Zone Trade Balance
  • 13:30 BST – Canadian Manufacturing Sales
  • 14:00 BST – ECB President Draghi speaks
  • 14:15 BST – US Manufacturing & Industrial Production
  • 15:00 BST – US NAHB Housing Market Index

The Week Ahead (Key Data & Events):

Tuesday, June 16th

  • 02:30 BST – RBA Meeting Minutes
  • 07:00 BST – German CPI
  • 09:30 BST – UK CPI
  • 10:00 BST – German ZEW Economic Sentiment
  • 13:30 BST – US Building Permits
  • 13:30 BST – US Housing Starts

Wednesday, June 17th

  • 09:30 BST – UK Unemployment Rate
  • 09:30 BST – UK Claimant Count Change
  • 10:00 BST – Euro Zone CPI
  • 13:30 BST – Canadian Wholesale Sales
  • 19:00 BST – Federal Reserve Interest Rate Decision
  • 19:00 BST – FOMC Statement
  • 19:30 BST – Fed Chair Yellen speaks
  • 23:45 BST – New Zealand GDP

Thursday, June 18th

  • 09:00 BST – Norwegian Interest Rate Decision
  • 09:30 BST – UK Retail Sales
  • 13:30 BST – US CPI
  • 13:30 BST – UK Initial Jobless Claims
  • 15:00 BST – US Philadelphia Manufacturing Index

Friday, June 19th

  • 07:00 BST – German PPI
  • 09:00 BST – Euro Zone Current Account
  • 13:30 BST – Canadian CPI
  • 13:30 BST – Canadian Retail Sales

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