- US readout of the Liu He - Yellen call now: effort to maintain open communication
- Australia - China relations: Foreign Ministers expected to meet this week
- Strike in Norway will cut oil and gas output
- China Caixin / Markit Services PMI for June: 54.5 (expected 47.3)
- China's deputy PM Liu He spoke with US Treasury Sec Yellen on the economy, supply chains
- New Zealand data - ANZ Commodity Price Index for June -0.4% m/m (prior -2.8%)
- PBOC sets USD/ CNY central rate at 6.6986 (vs. estimate at 6.6975) for Tuesday, 5 July
- Japan fin min says specific timing, content of bilateral talks with Yellen not yet decided
- Jibun / Markit Japan services PMI for June: 54.0 (prior 52.6)
- A supersize rate hike is expected from the Bank of Canada
- Australia data - weekly consumer confidence falls 1.2%
- Japan wages data for May: Real wages fall again, down 1.8% y/y
- South Korean June inflation data - core CPI rising at its quickest since February of 2009
- Australia Markit Service PMI June: 52.6 (prior 53.2)
- Singapore's central bank is considering further restrictions on retail crypto trading
- Australian Construction PMI for June 46.2 (prior 50.4)
- New Zealand business survey: Business confidence -65 (prior -40)
- China news ICYMI - Biden likely to roll back some China tariffs this week
- Here's what held oil back from having a more explosive price rise. Why its about to change
- Trade ideas thread - Tuesday, 5 July 2022
- Forexlive Americas FX news wrap: USD/JPY inches up on Independence Day
USD/JPY continued its rise here during the Asian timezone, taking out 136.00 and extending to highs above 136.30 before easing back a little (under 136.20 as I post).
AUD/USD moved higher also, ahead of the expected 50bp rate hike from Australia’s central bank, due at 0430 GMT. Previews here:
EUR, NZD and GBP inched a little higher against the US dollar also.
US stock index futures traded sharply higher. Narratives cite US President Biden looking to ease back on China tariffs. The video call between Chinese Vice Premier Liu He and US Treasury Secretary Yellen was also viewed favourably.
On the data front China’s second Services PMI (the one from Caixin / Markit) surged back into expansion in June (see bullets above).
Nasdaq:
(This chart is from our charting app, which is free and can be found at this link)
