Markets Pause In Anticipation Of G7 Meeting Today And Tomorrow

www.investing.com/analysis/markets-pause-in-anticipation-of-the-g7-meeting-today-and-tomorrow-200323262

By FxPro Financial Services Ltd (Ed Anderson) | Jun 08, 2018 04:02AM ET

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Yesterday’s trading session saw a rotation from the NASDAQ and Tech into the Dow Jones and Industrials. The European Indices have under preformed this week in part due to Euro strength and in part due to concern about trade/political stability in Italy and worsening economic data. China diverged from its Asian Equity counterparts this week and has led the Indices lower overnight. The G7 is meeting today and tomorrow with tensions between the US and the other participants at a high level over trade. Moves in FX are light today in anticipation of the meetings today which will dominate direction into next week and beyond.

UK Halifax House Price Index (3m/YoY) (May) was 1.9% against an expected 1.9% from 2.2% previously. This data has been declining since hitting a high of 3.9% in June 2014 and is expected to rebound from a multi-year low last month. GBP/USD moved higher from 1.34533 to 1.34717 following this data release.

UK_HBOS_180608

Eurozone Gross Domestic Product s.a. (Q1) was 0.4% QoQ and 2.5% YoY as previously reported. The QoQ number has been holding steady around 0.6% for 2017 but drop down to 0.4% showing a decline in growth across the Eurozone. The YoY number drop down to 2.5% after weakening Eurozone data. This data sent the EUR/GBP pair higher from 0.87781 to 0.88372 after this data release.

Ea_GDP_180608

US Continuing Jobless Claims (May 25) were 1.741M against an expected 1.738M. Initial Jobless Claims (Jun 1) were 222K against an expected 225K. This data is showing an increase in the number of people who are jobless. USD/JPY moved 110.000 to 109.642 in the time after this data release.

US_Claims_180608

EUR/USD is up 0.09% overnight, trading around 1.18091.
USD/JPY is down -0.02% in the early session, trading at around 109.667
GBP/USD is up 0.03% this morning trading around 1.34256.
Gold is down -0.09% in early morning trading at around $1,295.96
WTI is down -0.26% this morning, trading around $65.75

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MUHAMMAD KHALID Jun 08, 2018 6:13AM ET

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US 30	31,078.0	+302.6	+0.98%
US 500	3,824.4	+39.0	+1.03%
Dow Jones	31,097.26	+321.83	+1.05%
S&P 500	3,825.33	+39.95	+1.06%
Nasdaq	11,127.84	+99.11	+0.90%
S&P 500 VIX	26.70	-2.01	-7.00%
Dollar Index	104.880	+0.416	+0.40%

Crude Oil WTI	108.46	+2.70	+2.55%
Brent Oil	111.48	+2.45	+2.25%
Natural Gas	5.620	+0.196	+3.61%
Gold	1,812.90	+5.60	+0.31%
Silver	19.823	-0.529	-2.60%
Copper	3.6138	-0.0962	-2.59%
US Soybeans	1,510.50	-48.50	-3.11%

SPDR S&P 500	381.24	+3.99	+1.06%
iShares Russell 2000	171.41	+2.05	+1.21%
Invesco QQQ Trust	282.13	+1.85	+0.66%
Direxion Daily Junior Gold Miners Bull 2X Shares	35.44	+1.98	+5.92%
iShares Silver	18.31	-0.33	-1.77%
ProShares Ultra VIX Short-Term Futures	13.99	-0.54	-3.72%
ProShares UltraPro QQQ	24.39	+0.39	+1.62%

Apple	138.93	+2.21	+1.62%
Alphabet A	2,174.75	-4.51	-0.21%
Tesla	681.79	+8.37	+1.24%
Amazon.com	109.56	+3.35	+3.15%
Netflix	179.95	+5.08	+2.90%
Meta Platforms	160.03	-1.22	-0.76%
Bank of America	31.56	+0.43	+1.38%

	Interest Rates	Next Meeting
FED	1.75%	Jul 27, 2022
ECB	0.00%	Jul 21, 2022
BOE	1.25%	Aug 04, 2022
SNB	-0.25%	Sep 22, 2022
RBA	0.85%	Jul 05, 2022
BOC	1.50%	Jul 13, 2022
RBNZ	2.00%	Jul 13, 2022
BOJ	-0.10%	Jul 21, 2022
CBR	9.50%	Jul 22, 2022
RBI	4.90%	Aug 04, 2022
PBOC	3.70%
BCB	13.25%	Aug 03, 2022

Markets Pause In Anticipation Of G7 Meeting Today And Tomorrow

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