GOLD: Gold Down Modestly Ahead of Jackson Hole
Aug-22 05:19
* Gold fell in Asia trading today as it waited for signals on interest rates from Jackson Hole. * ...
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LOOK AHEAD: Eurozone Timeline of Key Events (Times BST)
Jul-23 05:18
| Date | Time | Country | Event |
| 23-Jul | 1500 | EU | Consumer Confidence Indicator (p) |
| 24-Jul | 0700 | DE | GFK Consumer Climate |
| 24-Jul | 0745 | FR | Manufacturing Sentiment |
| 24-Jul | 0800 | ES | PPI |
| 24-Jul | 0815 | FR | S&P Global Flash PMI |
| 24-Jul | 0830 | DE | S&P Global Flash PMI |
| 24-Jul | 0900 | EU | S&P Global Flash PMI |
| 24-Jul | 1315 | EU | ECB Decision |
| 24-Jul | 1345 | EU | ECB Press Conference |
| 25-Jul | 0745 | FR | Consumer Sentiment |
| 25-Jul | 0900 | EU | M3 |
| 25-Jul | 0900 | IT | ISTAT Consumer Confidence |
| 25-Jul | 0900 | IT | ISTAT Business Confidence |
| 25-Jul | 0900 | DE | IFO Business Climate Index |
| 25-Jul | 1400 | BE | BNB Business Confidence |
| 29-Jul | 0800 | ES | GDP (p) |
| 29-Jul | 0900 | EU | ECB Consumer Expectations Survey |
EURUSD TECHS: Approaching The Bull Trigger
Jul-23 05:15
- RES 4: 1.1923 2.000 proj of the Feb 28 - Mar 18 - 27 price swing
- RES 3: 1.1899 2.0% 10-dma envelope
- RES 2: 1.1851 High Sep 10 2021
- RES 1: 1.1760/1829 High Jul 22 / 01 and the bull trigger
- PRICE: 1.1734 @ 06:14 BST Jul 23
- SUP 1: 1.1660/1557 20-day EMA / Low Jul 17
- SUP 2: 1.1534 50-day EMA
- SUP 3: 1.1446 Low Jun 19
- SUP 4: 1.1405 Low Jun 11
EURUSD maintains a firmer tone having recovered from 1.1557, the Jul 17 low. Recent weakness between Jul 1 - 17 appears to have been a correction. Support to watch lies at the 50-day EMA , at 1.1534. A clear break of this average is required to signal a stronger reversal. Note that trend indicators continue to highlight a dominant uptrend. A continuation higher would open 1.1829, the Jul 1 high and the bull trigger.
CHINA: Country Wrap: China Key to Supply Chains
Jul-23 05:12
- China will remain a vital innovation hub and manufacturing base for foreign corporations despite global economic uncertainty, said government officials and business leaders. They noted that foreign firms are maintaining deep engagement with the Chinese market, capitalizing on their technological expertise alongside China's well-developed industrial and supply chains — a synergy that enhances operational efficiency, fosters innovation and strengthens supply chain resilience. (source China Daily)
- US Treasury Secretary Scott Bessent said he will meet his Chinese counterparts in Stockholm next week for their third round of trade talks aimed at extending a tariff truce and widening the discussions. “That deal expires on Aug. 12,” Bessent said on Fox Business of the scheduled end of the current trade truce between the world’s two largest economies. “I’m going to be in Stockholm on Monday and Tuesday with my Chinese counterparts and we’ll be working out what is likely an extension then.” (source BBG)
- China and Hong Kong stocks continue to rally as well. The HSI is up over 1%, while the CSI 300 has gained close to 0.75%, putting the index near 4150. General positive sentiment around US-China trade/relations is aiding sentiment. US Tsy Secretary Bessent will meet China officials in Stockholm next week, with the aim of extending the trade truce and expanding talks. US President Trump also stated overnight he may meet China President XI in the not too distant future (per BBG).
- Yuan Reference Rate at 7.1414 Per USD; Estimate 7.1612
- Small sell of in CGBs today with the 10yr at 1.71%
