Many Asian markets back (China & Taiwan remain closed all week) and higher today, NYSE suffered tech meltdown (250+ stocks paused trading on Open) US Stocks mixed following a raft of uninspiring Earnings. #MSFT had its weakest quarterly sales growth in 6-yrs but EPS beat, -0.22% on the day & -1.02% after hours. PMI data from EZ & US weak, but better than expected, UK data weak & missed. USDIndex recovered 102.00, EUR close to 9-mth highs. Hot Australian CPI (8.4% & 32-yr high vs 7.6%) puts AUD on bid & lifts outlook for hikes from RBA 7/2. AUD over 0.7100 close to 6-mth highs, NZD CPI also hotter than expected. Gold $1930, USOIL holds $80.00, BTC $22.7k.
Today – German Ifo, BOC Policy Announcement Earnings from ASML, AT&T, Tesla, Boeing, IBM & Abbott.
Biggest FX Mover @ (07:30 GMT) AUDNZD (+1.21%). Rallied from 1.0800 yesterday to trade at 1.0960 now. MAs aligned higher, MACD histogram & signal line positive & rising. RSI 85.12, OB & stalling, H1 ATR 0.00205, Daily ATR 0.0070.
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Stuart Cowell
Head Market Analyst
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