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UK House Prices Rise 0.8% In May - Rightmove





The average asking price for a house in the United kingdom was up 0.8 percent on month in May, property tracking website Rightmove said on Monday - coming in at 310,471 pounds.


That follows the 0.4 percent increase in April.


On a yearly basis, house prices advanced 5.5 percent - slowing from 7.8 percent in the previous month.


Individually, house prices in London dipped 0.2 percent on month, while every other area saw an increase.


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Asian Stocks Rose as Brexit Anxiety Recedes, Pound Surges





Asian stocks climbed as mounting expectations of the United Kingdom voting to stay in the European Union eased risk worries and the pound strengthened against other currencies.


There was a gain of 0.4% in MSCI's broadest index of Asia-Pacific shares outside Japan while Japan's Nikkei was up 1.5%, reinforced by the weakening of the lately bullish yen. Australian stocks increased 0.3% and South Korea's Kospi gained 1%.


Meanwhile, the pound surged 1.4% to $1.4573, continuing its recovery from last week's two-month low of $1.4013. It leaped 1.9% to 152.50 yen GBPJPY=R, moving away from a three-year trough of 145.34 on Thursday.


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Fxwirepro: Aussie Gains Against Major Peers After Rba Minutes, Aud/nzd Back Above 1.05 Mark





AUD/NZD is trading around 1.0504 marks.
Pair made intraday high at 1.0509 and low at 1.0459 marks.
Intraday bias remains bullish till the time pair holds initial support at 1.0455 marks.
On the top side, a sustained close above 1.0547 will drag the parity higher towards 1.0647/1.0748/1.0823/1.0976 (January 2016 high) /1.1062 (30D EMA)/1.1123/1.1298/1.1317 levels respectively. Alternatively, a daily close below 1.0455 will take the parity down towards key supports around 1.0408(June 9, 2016 low), 1.0362 and 1.0231 marks respectively.
Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart. Current upside movement is short term trend correction only.
Today Australia released meeting minutes and HPI data.
Australia’s HPI fell to -0.2% q/q vs 0.2% q/q previous release.
RBA minutes: Board judged leaving rates steady at June 7 meeting was consistent with sustainable growth.
RBA minutes: Low interest rates and weaker A$ since 2013 helped support above potential growth in Q1.
RBA minutes: Growth in household disposable income had been stronger than measures of income growth for overall economy. We prefer to take short position in AUD/NZD around 1.0525, stop loss 1.0572 and target 1.0416/ 1.0374 levels.


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Brazil agrees to provide $15 billion state debt assistance until 2018





Brazil agreed to provide debt relief to state governments amounting to 50 billion reais ($15 billion) until 2018, seeking to offer a special loan to Rio de Janeiro prior to Olympics and beef up public services.
Finance Minister Henrique Meirelles unveiled the debt relief as governors met with President Michel Temer, in which they would be given a six-month grace period and 1 ½ year of slashed payments.
Source privy to the matter said Brazilian municipality would receive 3 billion reais ($850 million) loan, payable in the following week.
Rio de Janeiro declared a financial emergency and asked for financing in order to complete the subway which will transport people to the venue of Olympic games and maintain public services during the event.


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Fxwirepro: Usd/jpy Remains Well supported Below 104.85 Mark, Upside Limited





USD/JPY is currently trading around 104.43 marks.
It made intraday high at 104.85 and low at 104.35 levels. Intraday bias remains bearish for the moment.
A sustained close below 103.94 will drag the parity down towards key supports at 102.10 and 101.56 levels respectively.
Alternatively, a daily close above 104.85 is required to take the parity higher towards key resistances around 106.12, 107.90, 110.44, 112.60 (55D EMA) and 113.42 levels respectively.
Important to note here that, 20D, 30D and 55D EMA heads down and confirms bearish trend in a daily chart.
Today is empty calendar for Japan but later today Fed chair Yellen testimony will provide further direction to the parity. RSS feed


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Asian Stocks Steady, Sentiment Bleak Before Brexit





Asian stocks were steady as anxious investors await the results of the United Kingdom's EU referendum. Fed Reserve Chair Janet Yellen's cautious comments on possible rate hikes also toned down the mood in financial market.
MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.1% while Japan's Nikkei dropped 0.7%. U.S. S&P Index rose 0.27% but was still under the 11-month high reached earlier this June. The Pound jumped as high as $1.4788 on Tuesday but slid back to $1.4667 during early Asian Trade. The Euro also dropped to $1.1250 compared to this week's peak of $1.1383 on Monday.


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Fxwirepro: Eur/gbp slips Below 78.6% Fib As Gbp Remains Bid on Bremain Sentiment





According to the latest poll, via Number Cruncher Politics, the Remain camp continues on the lead at 46%(+3 from previous) vs Leave 44% (-1 from previous), with undecided at 10 (-2 from previous).


Overnight, the latest polls via YouGov (online), showed Remain 51% and Leave 49%, while ComRes (phone) saw Remain 48% and Leave 42%.


The pound continues to be well bid in light of the most recent opinion polls' outcomes. EUR/GBP has slipped below the 78% Fibo level and is currently trading around 0.7645 levels.


Resistances on the upside align at 0.7656 (78.6% Fib of 0.7565 to 0.80 rally) ahead of 5-DMA at 0.77.


On the downside supports are seen at 0.7617 (Jan 21st low), 0.76 and then 0.7568 (200-DMA). Market sentiment could be volatile in the lead up to the vote and recent moves on currency markets remain vulnerable to swings/reversals. ​


Recommendation: Book partial profits, tighten trailing stops to 0.7656, target 0.7620/ 0.76


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Japan’s manufacturing activity slumps in June





The Japanese manufacturing activity condensed in June based on an primary survey, but uncertainties persist on declining exports and supply chain interruptions due to earthquake.


Japan Flash Manufacturing PMI by Markit/Nikkei closed at 47.8 this month from 47.7 in May. The initial index for new orders touched 45.8 in June from 44.7 in the previous month.


Markit said the earthquakes in April have negatively impacted the PMI. It added employment slid to its lowest in nine months into growth, indicating additional stimulus may be necessary to boost the economy.


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Briferendum Series: Global Markets Feel Newcastle Tremors





Results are coming out and some of them are a shocker. Newcastle was expected to be a stronghold for the “Remain” camp and was expected to provide somewhere around 12 percentage points lead to the “Remain” camp, instead, it was a very narrow lead in favor of the “Remain”. With 68 percent turnout, 65,504 people voted in favor of staying in the Union, while 63,598 favored going out. Newcastle was able to give a lead of only 1.4 percentage points to the “Remain” camp.


With such setbacks, it’s not going well for the “Remain” camp. According to latest figure, authorities have so far declared results in 184 local authorities and 188 are still remaining. It is not all looking good for the “Remain” camp. “Leave” camp is leading with 52 percent in their favor.


The pound has been declining fast after Newcastle shocker. Currently trading at 1.364 against the dollar, down more than 6 percent. The yen is up more than 3 percent trading at 101.3. S&P 500 is down 3.9%.


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S&P 500 Futures Stumble as ‘Leave’ Camp Ahead in Early Referendum Tally





U.S. stock index futures dropped in after-hours trading as preliminary results from Britain's referendum to stay or leave the EU showed a lead for supporters of a British Exit or Brexit.


S&P E-mini futures was down 0.8% as early tally showed 52.6% of the vote for the “leave" camp and 47.4% for the “stay" camp. Sterling plunged down to $1.4351 against the greenback, erasing its earlier gains which elevated the pound its peak of beyond $1.50 this year after polls indicate that Britons had 52-48% to remain in the EU bloc. Futures on the VIX .VIX volatility index climbed 1.02 pts. to 17.7 as anxiety among investors increase.


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