Morning Market Updates – Greenback to be Watched

Australia’s trade balance for May registered at 2.47 bn versus 1.00 bn (expected) and 0.56 bn (previous). Exports jumped by 9% m/m, while imports rose by 1% m/m.

Moving on for the day we have Germany Factory orders which seem to have slipped to a negative 2.1% as compared to the previous release.

Swiss is waiting for the Consumer Price Index which are forecasted to be doing better than the previous release at 0.5% for (YoY) and 0.2% on (MoM).

As for Euro, comments from ECB’s Praet Speech are a key to watch. The Unemployment Rate are followed later with ECB Monetary Policy Meeting Accounts.

The Building Permits released by the Statistics Canada seem to have decreased by 0.2% compared to the previous fix of 2.6%. The International Merchandise Trade registered at a negative 0.37B compared to the previous negative fix of 0.53B.

Greenback has some major release for the day with The Employment Change at 253K looking stronger than the previous fix of 185K. However, the Trade Balance is showing negative signals with 47.6B compared to previous 46.2B.

The counting Jobless Claims registered at 1.948M as against the previous fix of 1.939M. The Initial Jobless Claims are causing the greenback some damage further with 244K compared to the previous 243K. Services Purchasing Managers Index seems to hold previous levels at 53. ISM Non-manufacturing Index shows a slight upbeat with 56.9. Economic Optimism Index stay above required 50 levels. The EIA Crude Oil stockpiles are forecasted at 0.118M and Fed’s Stanley Fischer speech shall look for any insight on the direction for the greenback and finally AiG Performance of Construction Index.
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