| Important Financial Indicators of the day | Forecast | Previous | ||
|---|---|---|---|---|
| GBP | 08:30 (GMT) | CPI y/y | 3.0% | 3.0% |
| EUR | 09:00 (GMT) | German ZEW Economic Sentiment | 3.8 | 10.8 |
| USD | 12:30 (GMT) | Building Permits | 0.73M | 0.72M |
| ALL | Day 2 (GMT) | G20 Meetings | ||
Currencies
- EUR/USD The dollar slid against the euro before the Federal Reserve begins a meeting today amid prospects policy makers will consider further monetary easing steps to sustain the U.S. economy.
- The dollar declined 0.2 percent to $1.2604 per euro at 11:24 a.m. in Tokyo from yesterday, when it touched $1.2748, the lowest level since May 22.
- USD/JPY & EUR/JPY The Japanese currency gained versus most of its 16 major counterparts as Group of 20 leaders meet in Mexico for a second day to discuss Europe’s debt crisis that has spurred investor demand for refuge assets.
- The greenback dropped 0.2 percent to 78.97 yen.
- Japan’s currency fetched 99.53 per euro from 99.49.
- AUD/USD Australia’s dollar halted a three-day advance after the Reserve Bank said it lowered interest rates this month after a “finely balanced” discussion.
- The so-called Aussie bought $1.0123 from $1.0124 yesterday, when it capped a three-day gain of 1.9 percent.
- AUD/JPY The Australian dollar snapped a gain against the yen after the Reserve Bank of Australia released minutes of its June 5 meeting where policy makers cut the overnight cash-rate target to 3.5 percent, the lowest since 2009.
- The Aussie fell 0.2 percent to 79.96 yen, after climbing 0.9 percent yesterday.
Commodities
- Oil traded near the lowest close in three days in New York as rising bad loans in Spain fueled speculation that Europe’s debt crisis will spread and threaten global economic growth.
- Oil for July delivery, which expires tomorrow, was at $83.11 a barrel, down 16 cents, in electronic trading on the New York Mercantile Exchange at 12:25 p.m. Sydney time. It slipped 0.9 percent yesterday to $83.27, the lowest close since June 13.
- Gold rose for an eighth consecutive session on Tuesday, the longest winning streak since July last year, after a weekend victory for pro-bailout parties in Greek elections failed to shake off worries about a worsening debt crisis in Europe.
- Gold hit an intraday high of $1,630.59 an ounce and was steady at $1,627.95 an ounce by 03:00 a.m. GMT. Gold rallied to a record of around $1,920 in 2011, when investors turned to the metal as a safe haven during the debt crisis in Europe.
Equities
- Most Asian stocks fell as Spain’s borrowing costs climbed to a euro-area record and optimism faded that Greece’s election will calm Europe’s debt crisis.
- The MSCI Asia Pacific Index was little changed at 115.79 as of 12:39 p.m. in Tokyo, with almost six shares falling for every five that rose.
- European stocks were little changed as the yield on Spain’s benchmark 10-year bond climbed above 7 percent, amid fading optimism that Greece’s election will calm the euro area’s sovereign-debt crisis.
- The Stoxx Europe 600 Index added 0.1 percent to 244.36 at the close after earlier rallying as much as 1.1 percent and sliding as much as 0.4 percent. The benchmark measure has dropped 10 percent from its peak on March 16 on concern that the euro area’s sovereign-debt crisis has triggered a slowdown in global economic growth.
- Most U.S. stocks advanced, sending the Standard & Poor’s 500 Index higher for a third day, as optimism about Greece’s attempts to form a coalition government tempered concern about a surge in Spanish bond yields.
- The S&P 500 rose 0.1 percent to 1,344.78, after dropping 0.6 percent.
- The Dow Jones Industrial Average lost 25.35 points, or 0.2 percent, to 12,741.82.
- The Nasdaq Composite Index added 0.8 percent to 2,895.33.
