Global Markets:
- Asian Stock Markets : Nikkei down 0.18%, Shanghai Composite down 0.08%, Hang Seng down 0.51%, ASX up 0.03%
- Commodities : Gold at $1756.90 (+0.22%), Silver at $17.98 (+0.72%), Brent Oil at $42.38 (+0.45%), WTI Oil at $39.97 (+0.35%)
- Rates : US 10-year yield at 0.699, UK 10-year yield at 0.217, Germany 10-year yield at -0.422
News & Data:
- (CAD) Retail Sales m/m -26.40% vs -15.00% expected
- (CAD) Core Retail Sales m/m -22.00% vs -12.70% expected
- ECB Looks to Defuse German Legal Timebomb Threatening Stimulus
- Australia Fears Second Wave as State Tightens Virus Controls
CFTC Positioning Data:
EUR long 117K vs 96K long last week. Longs increased by 21K.
GBP short 16K vs 24K short last week. Shorts trimmed by 8K.
JPY long 22K vs 17K long last week. Longs increased by 5K.
CHF long 2K vs 2K long last week. No change
AUD short 7k vs 37K short last week. Shorts trimmed by 30K
NZD short 9K vs 11K short last week. Shorts trimmed by 2K
CAD short 25k vs 26K short last week. Shorts trimmed by 1K.
Markets Update:
Asian stock markets are mostly lower on Monday with modest gains following the mostly negative cues from Wall Street on Friday and as investors remained cautious amid the rising number of coronavirus cases in the U.S. and other parts of the world. The World Health Organization has warned that the pandemic is accelerating globally.
Mainland Chinese stocks were mixed on the day. The Shanghai composite dipped slightly while the Shenzhen component added 0.3%. In Japan, the Nikkei 225 closed 0.2% lower. South Korea’s Kospi closed 0.7% lower. Over in Australia, the S&P/ASX 200 closed just above the flatline.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.488 after rising from levels below 96.8 last week. Oil prices firmed slightly on tighter supplies from major producers, but concerns that rising virus cases could curb a recovery in fuel demand checked gains.
Upcoming Events:
Monday, June 22, 2020
- CAD GMT – (CAD) BOC Gov Macklem Speaks
Tuesday, June 23, 2020
- 07:15 AM GMT – (EUR) French Flash Services PMI
- 07:15 AM GMT – (EUR) French Flash Manufacturing PMI
- 07:30 AM GMT – (EUR) German Flash Manufacturing PMI
- 07:30 AM GMT – (EUR) German Flash Services PMI
- 08:00 AM GMT – (EUR) Flash Manufacturing PMI
- 08:00 AM GMT – (EUR) Flash Services PMI
- 08:30 AM GMT – (GBP) Flash Manufacturing PMI
- 08:30 AM GMT – (GBP) Flash Services PMI
- 08:45 AM GMT – (GBP) BOE Gov Bailey Speaks
- 01:45 PM GMT – (USD) Flash Manufacturing PMI
Wednesday, June 24, 2020
- 02:00 AM GMT – (NZD) Official Cash Rate
- 02:00 AM GMT – (NZD) RBNZ Rate Statement
Thursday, June 25, 2020
- 12:30 PM GMT – (USD) Core Durable Goods Orders m/m
- 12:30 PM GMT – (USD) Durable Goods Orders m/m
- 12:30 PM GMT – (USD) Final GDP q/q
- 12:30 PM GMT – (USD) Unemployment Claims
- 08:30 PM GMT – (USD) Bank Stress Test Results
Friday, June 26, 2020
- 12:30 PM GMT – (USD) Core PCE Price Index m/m
- 12:30 PM GMT – (USD) Personal Spending m/m
- 02:00 PM GMT – (USD) Revised UoM Consumer Sentiment