CURRENCY MARKET WRAP
As of Fri Jul 5th, Singapore Time zone UTC+8
Dollar Index -0.05%, 96.72
USDJPY, +0.01%, $107.82
EURUSD, -0.01%, $1.1286
GBPUSD, +0.00%, $1.2582
USDCAD, -0.06%, $1.3047
AUDUSD, -0.06%, $0.7024
NZDUSD, -0.25%, $0.6691
U.S. markets were closed for Independence Day.
Australian retail sales disappointed yet again in May (0.1% Actual vs 0.2% Consensus) and job vacancies fell from record highs, adding to signs of an underpowered economy and bolstering views the country’s central bank may have to cut rates for a third time this year. Financial markets are pricing in a near 90% chance of a third cut to 0.75 per cent before the end of the year.
In trade news, British Royal Marines seized a giant Iranian oil tanker in Gibraltar on Thursday for trying to take oil to Syria in violation of EU sanctions, a dramatic step that drew Tehran’s fury and could escalate its confrontation with the West. The 300,000-tonne tanker is registered as being managed by Singapore-based IShips Management Pte Ltd. Iran has said it wants to keep the nuclear deal alive but must receive promised economic benefits. This week it announced it had accumulated more low-enriched uranium than the deal allows and from July 7 will refine uranium to a greater purity than permitted.
STOCK MARKET WRAP
S&P500, +0.00%, -Closed-
Nasdaq, +0.00%, -Closed-
Nikkei Futures, +0.34%, 21,663.0
U.S. markets were closed for Independence Day.