Currencies
EUR/USD – continued to move slightly up as we can see that the Bollinger bands are coming closer together, signaling that a larger move is likely on the way. Perhaps the data out of Germany will be the trigger, or otherwise the building permits out of the US? In any case, the main even this week will be the ECB meeting on Thursday.
USD/JPY – we are able to see some sort of resistance being established around the 106.3 level over the last few days. The longer term direction will definitely be decided next week when we will know what measures will be taken by Japan and the BOJ.
GBP/USD – moved up yesterday as MPC Weale said that it is not certain he will support a rate cut next month and he will be looking at the incoming data to make up his mind. This is in contrast to most MPC members. He will be able to think over the inflation data that will be released this morning. In addition, the takeover of ARM Holding by SoftBank worth £24.3 billion is also causing some extra demand for the GPB.
AUD/USD – is dropping and with it is close to ending the upwards trend it has been in recently. This comes after the RBA minutes indicate that an interest rate cut is likely next month.
USD/TRY – while it dropped sharply in the morning as the coup failed, it turned around in the course of the day, as several EU members have stated that Turkey will not be able to become an EU member if it will reinstate the death penalty. Today we will also see the Turkish interest decision which will be especially interesting due to the recent event in Turkey.
Bitcoin – is moving down after it once again failed to break through the resistance we can see around the 665 level.
Indices
Dollar Index – remains pretty much unchanged and is still trading around the 96.55 level. We finally have some data out of the US today which could have an impact, although the news flow remains relatively weak this week with regards to US data.
Commodities
Gold – has continued to move slightly down as there is some more calm in the markets and some are still expecting the FED to increase the interest rate this year. We can start to find a bit of support in the low 1320 levels.
Oil – has been moving down again as there still is a concern on the large oversupply that is lingering in the market. It is not only a vast oversupply of oil, but also of other energy related products.
Stocks
Microsoft (NASDAQ:MSFT) – will be releasing its earnings today.
Yahoo (NASDAQ:YHOO) – reported quite weak earning with a drop in profit. However we did not see a real reaction in afterhours trading, although that might change when the market opens later today. Possibly more interest is going out to when and at what price Yahoo will sell its core business.