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  • Squawk / 59 minutes ago
    Head of Macro Strategy / Saxo Bank
    Denmark
    ISM manufacturing retraces from 5-month high:

    Manufacturing continued to expand in the US last month, but it did so at a slightly slower pace than in May and June with the headline index at 52.7 vs. 53.5 a month earlier (and 52.8 in May). Consensus had expected an unchanged reading of 53.5.

    The July ISM manufacturing report is a mixed bag with new orders among the highlights. The forward-looking component rose to 56.5 from 56, a six-month high, and the production index also gained to 56 from 54. Employment, on the other hand, dropped to 52.7 from 55.5.

    The employment component is interesting considering that the US employment report will be released on Friday. Consensus currently looks for an increase of 225,000 in July following a gain of 223,000 in June.
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  • Article / 2 hours ago

    Greece's big, fat dive may spell trouble

    Director / Accumen Management
    United Kingdom
    Greece's big, fat dive may spell trouble
    Its a sleepy summer market and for want of any bigger impetus prices are to-ing and fro-ing in response to the Greek bourse's reopening plunge and Canada's snap election. These are hardly top-line events but the combination of low liquidity and holidaying traders means they could incite volatility in the week ahead.
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  • 2h
    Martin O'Rourke Martin O'Rourke
    Brent and WTI continue to plummet. At 1307 GMT, the two benchmarks were at $50.88/b and $46.36/b respectively. Year lows are now most definitely on the horizon....
  • Article / 7 hours ago

    FX Update: Pivotal week for GBP and USD

    Head of FX Strategy / Saxo Bank
    Denmark
    FX Update: Pivotal week for GBP and USD
    This week sees an unprecedented Bank of England meeting and Inflation Report two-for on Thursday. And Friday’s reaction to US employment cost data shows how volatile this week may prove for the greenback as the market times the first Fed rate hike.
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  • Article / 8 hours ago

    Morning Markets: US data bonanza

    Deputy Editor / TradingFloor.com
    Denmark
    Morning Markets: US data bonanza
    Financial markets are getting off to a sluggish start to the week and most major currency currency pairs are treading water ahead of a flood of key economic data releases in the days ahead. Friday's shockingly weak ECI figures which showed the lowest wage growth in the US for decades put a dimmer on hopes of an imminent interest rate rise and in consequence, all tier-1 releases between now and the next Federal Reserve policy meeting will be tracked with heightened scrutiny.
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  • Article / 10 hours ago

    3 Numbers: Spain PMI offers clues for EZ growth; US income, US ISM

    editor/analyst / CapitalSpectator.com
    United States
    3 Numbers: Spain PMI offers clues for EZ growth; US income, US ISM
    Several manufacturing PMI reports will be released today. Spain's PMI is particularly interesting, as it may provide clues on how Eurozone economic momentum is holding up at the start of Q3. Meanwhile, the US is on track to deliver a relatively tepid gain of 0.2% for July's personal income and spending, while a slight decline is expected for the US ISM Manufacturing Index.
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