Yesterday, Japanese GDP q/q came in at a disappointing 0.0% vs expectation of 0.2%. RBA meeting minutes show that wage costs are being constrained and there is ongoing concern at the strength of the AUD hindering a return to inflation target. Inflation seen as remaining around 1.5% this year and moving to 1.5% to 2.0% by the end of the forecast period.
Monday saw reasonable risk-on appetite in equities with the three major stock markets in the US closing at all-time highs for the second week in a row.
Nothing of note.
Ther Euro rises and is currently at near-term resistance. The GBP plumbs new depths. The CAD leaves the consolidation triangle to the upside.
We have the first of the post-Brexit economic data from the UK today – CPI y/y. Later today we have US Core CPI and NZ Global Dairy.
VIP Club members please [mepr-login-link] to access your Daily Alert video.
For VIP Club members, this commentary is augmented with a short daily video where I discuss the trades I am in and the opportunities for tomorrow. If you would like a free one month trial to the VIP Club you can find out more HERE.
Here is your Daily Alert video. I start to discuss the trades at 6:35.
There is an archive of all VIP Club member’s content on the VIP Club page.