- Barclay’s Diamond threatens to hit back at regulators.
- RBA index of commodity prices fell 0.7% in June .
- NZ June commodity Export Price Index fell 2.4%.
- Australia May building approvals up 27.3% (forecast was only +5.1%).
- Australia May private sector home approvals rose 8.7 %.
- China June Non-Manufacturing PMI at 56.7 vs May at 55.2.
- PBOC sets Yuan at 6.3178 . up from yesterdays 6.3146 fix .
- PBOC does 38bln Yuan 7 day reverse-repo at 3.95% yld and 105 bln yuan 14 day at 4.1 yld.
- Market awaits RBA cash rate decision at 4:30 GMT ( expectations call for unchanged at 3.5%).
Extremely quiet session with Eur trading around the 1.2580 level . We saw lows of 1.2575 and a quick spike higher to 1.2597. Some resistance at the 1.2605 level and then again at 1.2665/70. Support seen at 1.2565 with key support level down at 1.2549. Usd/Jpy most of the session around 79.50 level with 79.40 low and followed the Eur spike to a high of 79.80.(Eur/Jpy high 100.50) Still resistance at 80.00 with stops above and support 79.10 with stops below. AUD traded around the 1.0250 level but saw lows of 1.0225 on rumored sell orders at 1.0260. After strong housing numbers we saw spike to highs around the 1.0275 level . Resistance comes in at the 1.0280 level followed by 1.0310/15 ,support comes in at 1.0215 , then 1.0182 . With Yuan and Jpy weakness looking like market may test higher levels for Eur and Aud (if RBA is unchged).. Good luck today.
