Good morning everyone and have a great month! Here are the #IronFX main points for today by Marshall Gittler: • US #economic indicators were good, but #USD declines anyway – Pending home #sales for May much higher than expected – Chicago Fed #index lower than expected, but 3 month moving average still high – Dallas Fed #manufacturing survey better than expected – #BUT interest rates fall, Fed Funds expectations retreat anyway, and USD weakens • #JPY weakens as tankan survey is favorable – Current conditions are worse than expected, but Q3 expectations were strong – Manufacturing capital spending expectations rise more than expected – Stocks up, USD/JPY up – I still expect #BoJ will have to loosen more later this year as #inflation disappoints • #RBA keeps rates unchanged, as expected – No significant difference in the statement – #AUD rallies nonetheless • Today: PMI day – China PMI in line with expectations @ 51.0 (previous: 50.8) – UK: Expected to decline slightly, probably not important for surging #GBP – US: ISM manufacturing expected to rise, but will it help USD? Join us to stay up to date on #Forex : bit.ly/1aqAHsW
Posted on: Tue, 01 Jul 2014 05:22:14 +0000
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