Breaking News
Investing Pro 0
Free Webinar - What Is a Gold IRA? Fees, Advantages, and Risks - December 7, 2022 | 01:00PM EST Enroll Now

China Data Disappoints, Greek Stock Market To Reopen

By Swissquote Bank LtdMarket OverviewAug 03, 2015 07:22AM ET
www.investing.com/analysis/china-data-disappoints,-greek-stock-market-to-reopen-260344
China Data Disappoints, Greek Stock Market To Reopen
By Swissquote Bank Ltd   |  Aug 03, 2015 07:22AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
 
DIA
-0.01%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SZI
+0.17%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
VIX
+2.30%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
SSEC
-0.40%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
US10Y...
-2.63%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 
CL
-2.49%
Add to/Remove from Watchlist
Add to Watchlist
Add Position

Position added successfully to:

Please name your holdings portfolio
 

Market Brief G10 Advancers and Decliners vs USD SEK 0.20 CHF 0.17 GBP 0.13 NZD 0.11 DKK 0.10 EUR 0.09 NOK 0.02 AUD -0.10 JPY -0.10 CAD -0.21 Global Indexes Current Level % Change Nikkei 225 Index 20548.11 -0.18 Hang Seng Index 24412.2 -0.9 Shanghai Index 3596.18 -1.83 FTSE futures 6621 -0.49 DAX futures 11286.5 -0.17 SMI Futures 9406 -0.04 DJIA (ARCA:DIA) futures 17689.86 -0.03 Global Indexes Current Level% Change Gold 1097.6 0.16 Silver 14.76 -0.13 VIX 12.12 -0.08 Crude WTI 46.71 -0.87 USD Index 97.29 -0.05

Asia stocks declined across the board as Chinese economic data showed more weakness. China Caixin manufacturing PMI final (different from the official read, which fell to a five-month low at 50.0) contracted to a 2-year low at 47.8 in July compared with flash estimates of 48.2 and down from 49.4 in June. The Shanghai composite fell -2.33% and Shenzhen declined 2.30%. The Hang Seng fell -1.01% and the Nikkei -0.17%. In the FX markets, volatility was subdued after Fridays wild swings. EUR/USD was range bound between 1.0966 to 1.0991, while it traded slightly higher from 123.90 to 124.10. AUD/USD edged lower despite solid economic data. AUD/USD fell from 0.7321 to 0.7290. US rates were slightly higher, as the 10 year yields rose 2.5bp to 2.205% on the open, but quickly slipped to 2.194%. The PBoC kept the USD/CNY fix steady at 6.116. With a busy GBP week ahead, the sterling was range bound. Commodities remain under pressure with oil falling in early trading. According to a Bloomberg report, ahead of China's top leadership’s annual gathering, policy makers are preparing new fiscal spending initiatives to safeguard against economic weakening; wouldn’t put their 2015 target out of reach (as in 2014). In the European session, Greece is anticipated to open its stock markets for the first time in over one month. Heavy selling is expected and headwinds in stock across Europe.

According to Bloomberg, BoJ Governor Haruhiko Kuroda stated that there was no current need for additional monetary easing. The inflation trend was improving, yet the BoJ stood ready to adjust policy if needed. He went on to say that in his view, the private sector remained more pessimistic than the central bank on inflation outlook. Finally, it was the official BoJ view that its inflation target of 2% would be achieved around the first half of 2056. In economic data, Nikkei manufacturing PMI expanded to 51.2 in July, revised lower from 51.4 of preliminary estimates.

In Australia, July AIG performance of manufacturing index expanded to 50.4 recovering from a contraction of 44.2 in June. Meanwhile, HIA new home sales rose 0.5% m/m in June against a prior fall of 2.3% in May. In Australia, house prices continue to surge despite efforts of regulators to control growing real-estate prices (dampening RBA easing expectations). Elsewhere, South Korea’s BoP current account surplus quickened to a record high of $12186.5mn against revised lower figures of $8618.1mn in May.

In the European session, traders will expect EU, UK and Swedish manufacturing PMI. Switzerland will release sight deposit data, which will be of interest due to the fact that EUR/CHF has traded well above intervention levels. This read will help us understand if the SNB is looking to push the EUR/CHF higher, or only intervene in defense of the CHF. In the US, personal income and spending, PCE and ISM manufacturing are anticipated to be released.

Today's Calendar Estimates Previous Country / GMT SW Jul Swedbank/Silf PMI Manufacturing 53.5 52.8 SEK / 06:30 SZ 31.July Total Sight Deposits - 4.62E+11 CHF / 07:00 SZ 31.juil. Domestic Sight Deposits - 3.98E+11 CHF / 07:00 SZ Jul PMI Manufacturing 50.5 50 CHF / 07:30 EC Jul F Markit Eurozone Manufacturing PMI 52.2 52.2 EUR / 08:00 UK Jul Markit UK PMI Manufacturing SA 51.5 51.4 GBP / 08:30 DE Jul Danish PMI Survey - 54 DKK / 09:00 US Revisions: U.S. Personal Income & Spending - - USD / 12:30 US Jun Personal Income 0.30% 0.50% USD / 12:30 US Jun Personal Spending 0.20% 0.90% USD / 12:30 US Jun Real Personal Spending 0% 0.60% USD / 12:30 US Jun PCE Deflator MoM 0.20% 0.30% USD / 12:30 US Jun PCE Deflator YoY 0.20% 0.20% USD / 12:30 US Jun PCE Core MoM 0.10% 0.10% USD / 12:30 US Jun PCE Core YoY 1.20% 1.20% USD / 12:30 US Jul F Markit US Manufacturing PMI 53.8 53.8 USD / 13:45 US Jun Construction Spending MoM 0.60% 0.80% USD / 14:00 US Jul ISM Manufacturing 53.5 53.5 USD / 14:00 US Jul ISM Prices Paid 49.3 49.5 USD / 14:00

Currency Tech EUR/USD
R 2: 1.1436
R 1: 1.1278
CURRENT: 1.0980
S 1: 1.0819
S 2: 1.0660

GBP/USD
R 2: 1.5930
R 1: 1.5803
CURRENT: 1.5511
S 1: 1.5330
S 2: 1.5171

USD/JPY
R 2: 135.15
R 1: 125.86
CURRENT: 123.89
S 1: 120.41
S 2: 118.89

USD/CHF
R 2: 1.0129
R 1: 0.9719
CURRENT: 0.9599
S 1: 0.9151
S 2: 0.9072

China Data Disappoints, Greek Stock Market To Reopen
 

Related Articles

Mike Zaccardi, CFA, CMT
A Challenging Year By Mike Zaccardi, CFA, CMT - Dec 07, 2022

DO YOU THINK differently about money today compared to a year ago? Cast your mind back 12 months. Interest rates were near record lows, cryptocurrencies were surging and stocks...

China Data Disappoints, Greek Stock Market To Reopen

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email