This textbook trend in AUD/CAD is one to watch as we roll into the latest monetary policy statement from the Reserve Bank of Australia later in the Asia session.
Before moving on, ICYMI, today’s Daily U.S. Session Watchlist looked at a downtrend setup in USD/CAD, so be sure to check that out to see if there is still a potential play!
Intermarket Update:
Equity Markets Bond Yields Commodities & Crypto
DAX: 15570.36 +0.33%
FTSE: 7016.63 +0.29%
S&P 500: 4400.64 -0.02%
NASDAQ: 14762.58 +0.70% US 10-YR: 1.233% -0.001
Bund 10-YR: -0.454% -0.007
UK 10-YR: 0.56% +0.00
JPN 10-YR: 0.014% -0.005 Oil: 72.22 +0.79%
Gold: 1,808.6 +0.489%
Bitcoin: $40,253.75 6.34%
Ethereum: $2,304.78 +2.91%
Fresh Market Headlines & Economic Data:
Dow falls into the red in final hour of trading, down more than 50 points after losing early gain
U.S. manufacturing sector growth slowing-ISM
July PMI ticks up to record high, but supply delays and price pressures also hit new peaks
Treasury Dept to invoke ‘extraordinary measures’ as Congress misses debt-ceiling deadline
Eurozone Manufacturing growth remained strong in July despite slight loss of momentum
German manufacturing continues to regain momentum in July
German retail sales jump, consumers shop less online
Resource and staff shortages constrain growth and drive up costs at U.K. manufacturers in July
Britain’s COVID-19 cases down by 33% over past week
Swiss consumer price index grew 0.7% y/y in July
Bitcoin slips below $40K amid concerns over U.S. Infrastructure Bill
PBOC says it will keep high pressure on crypto trading
Copper claws higher on softer dollar, hopes for China stimulus
ASEAN manufacturing sector sinks further into
downturn amid rising COVID-19 cases
Upcoming Potential Catalysts on the Economic Calendar
Tokyo CPI at 11:30 pm GMT
Australia Home Loans, Building Permits at 1:30 am GMT (Aug. 3)
RBA Interest Rate Decision at 4:30 am GMT (Aug. 3)
Spain Unemployment Change at 7:00 am GMT (Aug. 3)
Euro area at PPI at 9:00 am GMT (Aug. 3)
