Short recap
Asia mostly in red
Europe opening higher
Trump in Poland to reassure about commitment to
Eastern Europe through gas and military support
Before meeting with Putin
Also to outline the future relationship with Europe as
such
FOMC Minutes show a split and no timing on balance
sheet reduction
US ready to use force against North Korea but
looking for a diplomatic solution
EUR experienced lower use as international
currency and as a funding currency last year
Due to high hedging cost against its decline using swaps
Equities
ExxonMobil, Shell, Total getting
closer to win the big share of a Qatar gas pie despite local tensions
Vantiv buying Worldpay for USD 10 bln
Marc Cohodes known for his short selling
activities now targets Exchange Income after taking on Valeant
and Home Capital previously
Stating that rich dividend is not supported
Novo Nordisk having some safety issues with
insulin pens in Canada
Nokia signing a patent deal with Xiaomi
(guys don’t forget that Nokia is sitting on thousands of patents that can/do
bring a nice cash flow)
Car sharing biz getting tougher as Avis’ Zipcar leaves
Austrian market after Car2Go (Daimler) and DriveNow (BMW,
Sixt) are tough to take on
Volvo to sell hybrid or electric cars from 2019
only
Such moves to create pressure within the industry as well
as on auto parts producers
Tesla breaking down the rising trendline on lower
demand
Bonds
10-yr Trys yield at 2.33%
10-yr Bund yield at 0.47%
DXY
Support at 94.70 (76.4% Fibo)
Resistance at 96.44 (61.8% Fibo)
EURUSD
Market watching 1.1300 (post election high) on the back
of recent correction and today’s ECB Minutes
10 DMA at 1.1336 and 1.1344 (38.2% hourly Fibo) providing
some support
Further resistance/support levels come from hourly
Ichimoku
But large expiring options sitting at 1.1290/00 (EUR 2.1
bln), 1.1320/30 (EUR 1.5 bln)
USDJPY
Flat yields helped to mute the move higher
Resistance from declining trendline
Support at 112.24 (61.8% Fibo), 113.05 (76.4% Fibo)
USDZAR
Yesterday’s announcement of intention to nationalize the
South African central bank which is privately held
Pushed the cross spiking to 13.5000
Resistance 13.4253 (200 DMA) and 13.5547 (23.6% Fibo)
Support 13.3166 (38.2% Fibo)
Gold
Getting support from geopolitical risks
After the sell off and JPY stabilisation
Support at 1214
Resistance at 1231 (200 DMA), 1234 (76.4% Fibo) and
rising trendline
Data/Events
ECB Minutes
Fed’s Williams
(0745 GMT)
ECB’s Praet (1000
GMT)
Fed’s Powell (1400
GMT)
Fed’s Fischer (2330
GMT)
July 7 – US NFPs
July 7 – Fed to
publish its semi-annual report on mon pol (1500 GMT)
July 7/8 – G20
meeting
Trump meeting Putin
while Merkel hosting them
Trump readying for
a steel fight and withdraw from international talks on financial regulation
July 12 – Yellen
testifying before Congress (prepared text to be released at 1230 GMT)
July 20 – ECB
meeting
July 26 – FOMC
meeting
Should you have any questions feel free to contact me
anytime.
Good luck Champs!
Mr Hawk
DISCLAIMER: This material was created for informational
purposes only and represents the Land of Trading team’s view of the past and
current economic and capital market environment. It is not an investment advice
and should not be viewed that way at all, and the creators of this material
cannot be held liable for any potential losses resulting from trading, where despite
this disclaimer someone would consider this material as an investment advice.
All rights reserved ©2016. Contact: landoftradingATgmailDOTcom
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