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v US’s factory orders rose 1.8% m/m in
June in-line with market expectations
v UK’s Construction PMI eased to 57.1 in
July
v UK’s nationwide house prices rose by
0.4% m/m in July
v Reserve Bank of Australia maintained
its cash rate unchanged at 2.0%
v Japan’s labour cash earnings decreased
for the first time in seven months in June
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·
US –
Factory orders rose 1.8% m/m in June in-line with market expectations. Much of
the strength in the headline number was driven by aircraft orders, excluding
which, orders rose just 0.5% m/m.
·
UK –
Construction PMI eased to 57.1 in July from 58.1 and is down from 60.1 in
February. While construction companies remain upbeat about the sector’s
prospects, skill shortages remain a problem with the availability of
contractors declined sharply.
·
UK –
Nationwide house prices rose by 0.4% m/m in July which is in line with the
market forecasts. Other measures of house prices have suggested that Britain's
housing market is picking up again after slowing in 2014 when new rules on
mortgage lending were introduced.
·
Currency
– Global service PMIs should drive direction with trends expected to continue,
USD and GBP strength, the rest weakness.
·
Equity
– US equities were down amid mixed earnings results and falls in Apple shares,
with the S&P 500, Dow Jones and Nasdaq down 0.2% to 0.3%.
·
Rate
– US Treasury yields rose as Atlanta Fed President and Fed voter Dennis
Lockhart said the Fed was close to being ready to raise interest rates and that
it would take “significant deterioration” in the data to put off a September
start. US 10-year Treasury yields rose 6 bps to 2.20%.
·
Energy
– Crude oil prices rebounded slightly on Tuesday. WTI prices rose for the first
time in four days. Participants will now await the weekly US inventory data
announcement. Strong refining activity may drive down US crude oil stocks but
lead to a build-up in finished product inventory.
Precious Metal – Gold traded
marginally higher by 0.08% below $US1100 per ounce. |
INDICATIVE MAJOR CURRENCIES
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