Morning Briefing Global Economic Trading Calendar

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Morning Briefing Global Economic Trading Calendar A Eurex publication focused on European financial markets, produced by Market News International Morning Briefing July 4, 2011 The July 4 week in the US is European Central Bank meeting and Withdrawal data as well as PMI shortened by the holiday on Monday press conference on the same day. Construction. so there is no US data today and overall for the week, the data For Monday, the Bank of Japan Germany June car registrations data calendar is light, and most of the quarterly regional economic report is is due from Europe today, although focus in markets will remain on the still due from Japan, at 0530GMT, scheduled data starts at 0900GMT upcoming employment report on while at 0615GMT, Bank of Japan with EMU PPI data for May. Friday. Osaka branch manager Hideo Hayakawa gives a news conference. In Switzerland today, Swiss National In the UK, the Bank of England Bank President Philipp Hildebrand is meets on Thursday, although this will UK data at 0830GMT includes Bank due to speak at the OMFIF, in likely be overshadowed by the of England Housing Equity Edinburgh. Global Economic Trading Calendar Markets EUROPEAN STOCKS: Major higher, although shy of the best trade. Dollar-yen played a typically European bourses are seen opening levels, as the Nikkei breifly rose mundane Y80.70-94 range with bids modestly higher Monday. above 10,000. The Nikkei 225 was at Y80.50 untested but the topside Spreadbetters are calling the FTSE last 118.27 points, or 1.20%, higher curbed by exporters sales in euro- up 10, the DAX up 16 and the CAC at 9986.26. The broader-based yen. The cross rose with euro-dollar up 9. Traders expect a low volume TOPIX was up 11.43 points, or to Y117.74 from Y117.48 before session, with US markets closed 1.34%, at 865.29. heading lower to Y117.40, later for the Independence Day holiday. settling around Y117.60. Aussie US index futures are trading narrowly FX MARKETS: Thin market opened at $1.0775, but fell back on mixed Monday, albeit in very light conditions greeted the start of the poor retail sales and building trade as the main cash markets will new week with the US Independence approvals to $1.0722 before Asian be closed for the July 4 holiday. The day holiday. The Euro opened on a sovereign demand led a recovery to S&P Sep contract was last down 1.1 bid footing following weekend news $1.0753. points at 1333.7, with the Nsdaq Sep that the EU finance ministers had contract up 2.75 points at 2358.0. approved the Euro 12 bln payment OIL: Crude futures are trading higher Dow fiutures are 8 higher at 12522. tranche for Greece and the strong Monday, sitting above the $95.00 Wall Street close of Friday. The level. The front-month WTI contract JGBS: Japanese government bond single currency moved higher from was last 25 cents higher on the prices were broadly lower as stocks opening levels of $1.4525 through session at $95.19, having touched a rose on renewed risk sentiment due stops at 1.4555 to $1.4578 before high at $95.30. The August to receding worries about the Greek profit taking send the pair back to WTI/Brent spread was last at $16.70 debt crisis and a sustained U.S. $1.4533 only to be bolstered again . economic recovery. The benchmark by Asian sovereign demand to 10-year yield was up 2.0 bps at $1.4567. Cable initially traded heavy 1.160% in Asia after weekend reports of possible further QE, lagging euro's . JAPAN STOCKS: Japan's rise from opening levels, but rising to benchmark stock indices are trading $1.6088 later from $1.6057 in quiet Technical Analysis BUND: (U11) Maintains Heavy Tone RES 4: 129.33 High 9 Nov 2010 RES 3: 128.94 76.4% of Aug/Apr decline RES 2: 127.57/58 High 27 June, High 24 Nov RES 1: 125.90/05 21, 5-day moving average PREVIOUS CLOSE: 125.42 SUP 1: 125.22 Low 1 July SUP 2: 125.08 High 5 Jan SUP 3: 124.62 38.2% of 127.57-119.86 SUP 4: 124.40/46 55, 200-day moving average, Bollinger band base COMMENTARY: U11 is trading with a heavy tone following break below April support line as well as the 21-DMA at 125.90 and also Fibonacci level at 125.59. Studies remain soft for now. Eurostoxx50 Techs: Tests 100-DMA RES 4: 2930.4 Fibonacci level RES 3: 29l0.6 High 20 May RES 2: 2901.1 61.8% retracement level RES 1: 2887.3 High 1 July, 100-DMA PREVIOUS CLOSE: 2875.7 SUP 1: 2869.2 200-day moving average SUP 2: 2847.0 55-day moving average SUP 3: 2800.0 5-day moving average SUP 4: 2768.5 21-day moving average COMMENTARY: The daily studies remain firm as the market breaks above the 200-day moving average to test the 100- DMA. Break here would further improve outlook, although market is already trading outside the Bollinger band.. Eurex Futures Market Closes network trade more than 6.5 million guarantee is extended to cover Eurex contracts, from approximately 700 different Bonds, Eurex Repo and all cash About Eurex locations. 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