Morning Markets: Silver soars and equities gain
- UK June Construction Purchasing Manager Index (0830 GMT)
- Eurozone July Sentix Investor Confidence (0830 GMT)
- Canada RBC Manufacturing PMI (0930 GMT)
- Demand for gold gained ground; it was worth $1349.50/oz at 0320 GMT
- Silver benefited from gold's strength; it was worth $20.45/oz at 0320 GMT
- US markets are closed today for the Independence Day holiday
- Japan's Nikkei 225 rebounded strongly from an early tumble
- The Nikkei 225 was up by a healthy 0.52% to 15,763.25 at 0529 GMT
- Japan's monetary base unexpectedly fell last month to 25.4%; 26.3% was expected
- China's Shanghai Composite surged sharply higher on stimulus hopes
- The Shanghai Composite was up a robust 1.72% to 2,983.02 at 0546 GMT
- India's S&P BSE Sensex was up 0.72% to 27,341.23 at 0555 GMT
- Australia's monthly MI inflation gauge was 0.6% in June, up from April's minus 0.2%
- Australian building approvals for May fell 5.2% compared with a 3.3% rise in April
- Australia's July 2 election result is too close to call, and may result in a hung parliament
- Election result uncertainty weighed on sentiment in the Australian sharemarket
- Australia's benchmark S&P/ASX200 made gains despite the political uncertainty
- The S&P/ASX200 was up 0.24% to 5,259.40 at 0502 GMT
- The US dollar was worth ¥102.7000 at 0547 GMT
- AUDUSD gapped down after the Australian election failed to produce a clear result
- The Australian dollar was worth 0.7499 at 0548 GMT
From the Floor
Countdown. “It’s all about Super Friday with the US NFP and an anticipated 180,000 — risk is to the upside”, says Kay Van-Petersen
Shining star. “Silver hit a two-year high as the ratio to gold continues to collapse”, says Hansen
Get all the latest from Saxo Bank's trading floors in From the Floor, within the hour.
Euro area Sentix investor confidence is expected to give up last month’s outsized gains, while the UK's construction sector continues losing its optimism, writes Juhani Huopainen.
Friday's jobs report will be on the mind of many. Photo: iStock
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