|
v Greece
becomes the first advanced economy to miss a payment on IMF
debt
v US
Conference Board consumer confidence index rises in June
v Fitch
affirms Malaysia A- ratings with the outlook revises to Stable from Negative
v Malaysia's
Producer Price Index for May 2015 decreases
v Total
labor cash earnings in Japan increase in May
v South
Korea's industrial output declines in May, with production losses across key
automobile, semiconductor and machinery
sectors
|
|
OVERNIGHT MARKET
UPDATE:
|
·
US Conference Board consumer confidence index rose to 101.4 in
June from 94.6. Case-Shiller house prices rose just 0.3% m/m in April, but
annual house price growth remained at 4.9%. The Chicago PMI rose to 49.4 in
June from 46.2 in May. On balance, the regional Fed manufacturing surveys have
improved further in June, which points to a modest pick-up in the ISM
manufacturing survey.
·
Greece has become the first advanced economy to miss a payment
on IMF debt. The International Monetary Fund’s board has been informed that
Greece is now in arrears after a 6 p.m. Washington deadline Tuesday for
Greece’s US$1.7 billion payment, coinciding with the expiration of the nation’s
European bailout.
·
The euro area CPI estimate rose 0.2% y/y in June. The euro area
unemployment rate remained unchanged at 11.1% in May, hindered by increases in
France and Portugal.
·
The final estimate of Q1 UK GDP data was revised upward to 0.4%
on quarterly basis from 0.3%. Meanwhile, the current account deficit narrowed
to GBP26.5 billion from GBP28.9 billion in Q4.
·
Currency Market – EUR remains relatively unaffected by the
prospect of the Greek bailout ending and most other currencies marked time as
limited news was released.
·
It was a choppy trading session for the US Treasuries, with the
10-year yield inched up by 3 basis points to 2.35%, as traders digested the
latest developments regarding Greece.
·
US equities ended higher due to bargain hunting following
previous session sell-off. Three major bourses finished the session in positive
territory but well off their best levels of the
day.
·
Crude oil prices gained overnight. Prices recovered from the
lowest level in two months as traders weighed the latest developments in Greece
and Iran.
Gold prices closed lower amid last ditch efforts to revive talks between
Greece and its creditors.|
INDICATIVE MAJOR CURRENCIES
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