FOREX News and Overnight Technical Levels- July 5th

[B][/B]
Click Here for PDF
[B]Asia - JPY/CNY[/B]

  • Japan May leading economic index rises to 30 percent, much lower than the expected 40 percent consensus.
  • Subsequent coincident index rises as expected to 66.7 percent, advances above the 65 previous figure.
  • Chinese stock markets plummet on share sale concerns. Benchmark index declines by 5.25 percent.
    [B]Europe - EUR/GBP/CHF[/B]
  • Bank of England raises key overnight rate by 25 basis points to 5.75 percent. Decision was widely expected and precedes comments from monetary authority, notes that inflation risks continue to remain to the upside.
  • European Central Bank keeps rates unchanged, signals further rate hikes in the next two months.

[B]Commodity Currencies - AUD/NZD/CAD[/B]

  • New Zealand June ANZ price survey rockets 6.1 percent higher. Blasts previous 2.6 percent increase.
  • Canadian Ivey Purchasing Index rises better than expected. Increases likelihood of rate increase in the near term.