Marketwatch APAC

Daily Insights
July 2, 2024

APAC MarketWatch

 

US stocks moved higher following positive comments from Fed Chair Powell and Fed President Goolsbee. Powell quoted that the economy is back on the “disinflationary path”. Markets took this as confirmation that the Fed will deliver its first rate cut in the next few months.

The S&P 500 posted a record high close, closing above 5,500 for the first time.

Following Powell’s comments US bond yields were lower, and the US dollar also fell.

 

The AUD was higher after the minutes from the RBA’s June meeting, which suggested a rate hike is still an option.

Commodities were generally lower, with gold, iron ore and oil all falling.

Economic Calendar

:
NZD - ANZ Commodity Prices m/m
:
AUD - Retail Sales m/m
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AUD - Building Approvals m/m
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CNY - Caixin Services PMI
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EUR - French Gov Budget Balance
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EUR - Spanish Services PMI
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EUR - Italian Services PMI
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EUR - French Final Services PMI
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EUR - German Final Services PMI
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EUR - Final Services PMI
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GBP - Final Services PMI
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EUR - PPI m/m
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EUR - German 10-y Bond Auction
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USD - FOMC Member Williams Speaks
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CHF - Gov Board Member Martin Speaks
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USD - Challenger Job Cuts y/y
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USD - ADP Non-Farm Employment Change
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CAD - Trade Balance
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USD - Unemployment Claims
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USD - Trade Balance
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USD - Final Services PMI
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USD - ISM Services PMI
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USD - Factory Orders m/m
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EUR - ECB President Lagarde Speaks
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USD - Crude Oil Inventories
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USD - Natural Gas Storage
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USD - FOMC Meeting Minutes

Market Indicators

Currency Pairs
Pair High Low
aud/usd 0.66706 0.6634
nzd/usd 0.60824 0.60474
aud/nzd 1.09886 1.09505
usd/jpy 161.744 161.266
usd/cad 1.37551 1.36667
eur/usd 1.07472 1.07098
gbp/usd 1.26878 1.26153
aud/eur 1.61773 1.60939
aud/jpy 107.703 107.238
aud/cny
Equities and Commodities
S&P 500 5513.96
DOW 39358.7
Nasdaq 100 20036.7
ASX200 7746.64
GOLD 2329.1
WTI 83.17

This document is for information purposes only and does not constitute any recommendation or solicitation to any person to enter into any transaction or adopt any trading strategy, nor does it constitute any prediction of likely future movements in exchange rates or prices or any representation that any such future movements will not exceed those shown on any illustration. All exchange rates and figures appearing are for illustrative purposes only. You are advised to make your own independent judgment with respect to any matter contained herein.