- Indonesia June Core CPI 5.04% Y/Y (Reuters Poll +5.05%).
- Indonesia June Manufacturing PMI Rises to 47.8 vs 47.1 May, But Contracts for 9th Month.
- Malaysia June PMI at 32-Month Low of 47.6 Vs 49.5 in May.
- Taiwan PMI Falls to 46.3 in June, a 33-Mth Low, From 49.3 in May.
- China Final June HSBC/Markit manufacturing PMI at 49.4 (Vs Flash 49.6, May 49.2), Fourth Month of Contraction.
- South Korea June manufacturing PMI 46.1, near 3-Year Low, vs 47.8 in May.
- South Korea June PMI New Export Orders Falls to 47.6 Vs 47.9 in May.
- Japan Final June manufacturing PMI 50.1 Vs Flash 49.9, Final 50.9 in May.
- Australia May Building Approvals +2.4% M/M.
- Australia May Private Sector House Approvals -8.4% M/M.
- PBOC sets Yuan Mid-Point at 6.1149 / Dollr Vs Last Close 6.2010.
- IMF confirms Greece does not make 1.5bln Euro Repayment to the Fund.
- IMF says Received Greece Request for Extension of Repayment.
- IMF says Board will consider Greek Request for Extension in Due Course.
- China June services PMI rises to 53.8 from 53.2 in May.
- China June Official manufacturing PMI at 50.2 (Reuters Poll 50.3) Vs 50.2 in May.
- Singapore Q2 private home prices -0.9% q/q.
- BOJ Tankan- June Big Manufacturers Index +15 (Reuters Poll: +12).
- BOJ Official- Big manufacturing's Index Improves First Time in 3 Quarters, Hits Highest Level since March 2014.
- BOJ Official- Big Non-Manufacturers Index Improves for 3 Straight Qtrs, Hits Highest Since March 2014.
- BOJ Official- Upbeat Capex Plans Show more Firms Increasing Spending to Boost Productivity, Renovate Plants and Equipment.
- BOJ Official- Japan Big Firms' Expected Capex Rise of 9.3% for Fiscal 2015; Biggest Rise since Fiscal 2006.
- South Korea June exports fall 1.8% yr/yr.
- Fed's Bullard: Fed Rate Hike "Very much in play for September" though will be on the table in July as well.
- South Korea June inflation at 0.7% y/y, 5-mth high.
- (0300 ET/0700 GMT) Norway Manufacturing PMI SA.
- (0315 ET/0715 GMT) Spain Manufacturing PMI.
- (0330 ET/0730 GMT) Switzerland Manufacturing PMI.
- (0345 ET/0745 GMT) Italy Markit/ADACI manufacturing PMI.
- (0350 ET/0750 GMT) France Markit manufacturing PMI.
- (0355 ET/0755 GMT) Germany Markit/BME manufacturing PMI.
- (0400 ET/0800 GMT) Euro Zone Markit manufacturing Final PMI.
- (0400 ET/0800 GMT) Italy ISTAT Public Deficit/GDP.
- (0430 ET/0830 GMT) UK Markit/CIPS manufacturing PMI.
Key Events Ahead
- (0300 ET/0700 GMT) Sweden Riksbank Executive Board Monetary policy meeting.
- (0530 ET/0930 GMT) BOE's Carney Presents Semi-Annual Financial Stability Report.
FX Recap
EUR/USD is supported above 1.1100 levels and currently trading at 1.1136 levels. It has made intraday high at 1.1144 and low at 1.1125 levels. Greece has missed a crucial debt repayment of €1.6 billion to the International Monetary Fund as the June 30 deadline of 6PM Washington time has passed. This failure to pay means Greece has become the first developed nation in history to default to the IMF and joined countries in arrears that currently include Sudan, Somalia and Zimbabwe. Today market will eye on number of economic data release in European session. Initial support is seen around 1.1067 and resistance is seen around 1.1218 levels.
USD/JPY is supported below 123.00 levels and posted a high of 122.59 levels. It has made intraday low at 122.34 and currently trading at 122.48 levels. Pair trades modestly flat as the JPY bulls remain in charge supported by impressive Japanese factory data released in early hours. The Bank of Japan's Tankan Manufacturing Index rose to 15 in the June quarter from 12 in the March quarter, according to a release on Wednesday, coming in stronger than the market forecast of an unchanged reading. Near term resistance is seen at 124.57 and support is seen at 121.48 levels.
GBP/USD is supported around $1.5700 levels. It made an intraday high at 1.5714 and low at 1.5674 levels. Pair is currently trading at 1.5698 levels. Pair is trying to find little support in positive UK news released yesterday showing that Britain's economy had grew more than previously estimated in the first quarter. Bank of England Financial Stability Report (FSR) followed by Governor Carney 's speech at a press conference FSR is expected to remain the main highlight during the European session ahead. While final manufacturing PMI reports across the Euro area economies followed by manufacturing PMI from the UK will also be closely watched. Initial support is seen at 1.5624 and resistance is seen around 1.5835 levels.
USD/CHF is supported above 0.9300 levels and trading at 0.9357 levels and made intraday low at 0.9341 and high at 0.9361 levels. Today a set of manufacturing PMIs from the Switzerland and US will also be eyed. Near term support is seen at 0.9279 levels and resistance is seen at 0.9428 levels.
AUD/USD is supported above 0.7700 levels and trading at 0.7717 levels. It has made intraday high at 0.7737 levels and low at 0.7687 levels. The Australian dollar was lifted against its US counterpart and remained above the $0.77 threshold as PMI data from China showed the country's manufacturing sector continued to expand in June. Apart from the Chinese data, building approvals in Australia pointed to solid growth in the country's construction industry as they continued to rise at a double-digit pace in May. Building consents were up 2.4% month-on-month in May after sliding a revised 5.2% in April. Initial support is seen at 0.7568 and resistance at 0.7838 levels.
