Fish are jumpin’ and the cotton is high……..
Well been away a couple of days and seems to me we’re going nowheres fast. Little change in a slow Asian session. Risk sentiment is in pretty good nick, with USD and JPY seeing some very marginal weakness. EUR/USD is up at 1.3925 from a North American close Thursday around 1.3900, while EUR/JPY is up at 134.55 from 134.20.
Sentiment is being underpinned by the release yesterday of some encouraging U.S. economic data. Conference board’s leading economic indicators rose to 1.2% in May from 1.1 in April, while the Philly Fed general economic index jumped to it’s highest level in 9 months, coming in at -2.2 in June from -22.6 in May.
Very little on the economic data front today to really whet the appetite.
06:00 GMT: German producer prices May, expected flat m/m, -3.6% y/y
06:45 GMT: French wages Q-1 (final), expected 0.8% q/q
08:00 GMT: Italian unemployment s.a Q-1, expected 7.3% from 6.9%
