Talking Points
- US Dollar Consolidates in Asia, Australian Dollar Underperforms
- French Bill Auction Highlights Bare-Bones European Calendar
- S&P 500 Index Futures Point to Neutral Risk Sentiment Trends
The trading week began on a quiet note, with the US Dollar little-changed against its top counterparts. The Australian Dollar narrowly outperformed in what appeared to be a correction after a Treasury report released on Friday stoked intervention fears and sparked aggressive selling.
Muted conditions may carry forward into the coming hours. The European and US economic calendars offer a pittance of low-level event risk and S&P 500 stock index futures are trading flat, offering no clear guidance on the risk appetite front.
In the absence of larger catalysts, a French bill auction may prove to be the most market-moving item on the docket. Paris is scheduled to sell €7 billion in 3-, 6- and 12-month paper. Traders will look to average yield and bid-to-cover readings to gauge the degree of Eurozone sovereign stress.
Asia Session: What Happened
|
GMT |
CCY |
EVENT |
ACT |
EXP |
PREV |
|
22:30 |
Performance Services Index (JUL) |
53.1 |
- |
53.9 (R-) |
|
|
23:01 |
Rightmove House Prices (MoM) (AUG) |
-2.4% |
- |
-1.7% |
|
|
23:01 |
GBP |
Rightmove House Prices (YoY) (AUG) |
2.0% |
- |
2.3% |
|
5:00 |
Leading Index (JUN F) |
93.2 |
- |
92.6 |
|
|
5:00 |
JPY |
Coincident Index (JUN F) |
94.1 |
- |
93.8 |
|
7:00 |
JPY |
Convenience Store Sales (YoY) (JUL) |
-3.3% |
- |
-2.6% |
Euro Session: What to Expect
|
GMT |
CCY |
EVENT |
EXP |
PREV |
IMPACT |
|
9:00 |
Euro-Zone Construction Output s.a. (MoM) (JUN) |
- |
0.1% |
Low |
|
|
9:00 |
EUR |
Euro-Zone Construction Output w.d.a. (YoY) (JUN) |
- |
-8.4% |
Low |
|
13:00 |
EUR |
France to Sell €7bn in 3-, 6-, and 12-month Bills |
- |
- |
Medium |
Critical Levels
|
CCY |
SUPPORT |
RESISTANCE |
|
1.2288 |
1.2428 |
|
|
1.5668 |
1.5733 |
--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com
To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak
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