US Stock index futures erase overnight losses, new point to higher open as busy week kicks off: S&P 500 E-mini futures up 0.5%, NASDAQ futures, DOW futures up 0.6%
Apple is being investigated by the German cartel office
Oil rose above $73/b after talks stalled on the Iran nuclear deal, and amid optimism about the increased demand for fuel in the summer season.
Gold is attempting a 1% recovery, heading towards the $1800 amid a sight pullback in the US dollar across the board.
- Euro breaks down
- Pound support disappears
- Aussie breaks down and Kiwi closes below major support
- US Dollar-CAD breaks up
This week’s focus:
More relaxing of lockdown measures is still being sought, notably in Europe.
As for COVID-19 cases, hospitalizations, and deaths are being tracked around the world, as well as the spread of the Delta form in the UK and Europe.
Central Bank Watch:
On Monday, the People’s Bank of China (PBoC) announces its interest rate decision. On Tuesday, US Federal Reserve Chairman Jerome Powell testifies before Congress; on Wednesday, the Bank of Japan Meeting Minutes are released. And on Thursday, the Bank of England (BoE) announces its interest rate decision, statement, and press conference
The global Markit Flash Manufacturing, Services, and Composite Purchasing Managers Index (PMI), the German IFO Survey, and US GDP, Durable Goods Purchases, and Personal Consumption Expenditure having all data standouts this week.
|Date||Key Macroeconomic Events|
|21/06/21||PBoC interest rate decision|
|22/06/21||EU Consumer Confidence; FOMC Chairman Powell testifies to Congress|
|23/06/21||BoJ Meeting Minutes; Markit Flash Manufacturing, Services and Composite PMI|
|24/06/21||German IFO Survey; BoE Meeting, statement and press conference; US GDP and Durable Goods Orders|
|25/06/21||Japan CPI; US PCE|