Euro currency markets - Spanish mortgages daily brief 28 July 2006
by Debbie Forward
• The FTSE-100 will open around 20 points down this morning
• Last night on Wall Street the DJIA eased from the recent bull run, closing down 2.10 points at 11,100.4, with
the NASDAQ finishing the session 15.99 points lighter at 2,054.47.
Summary of Overnight News:
• The FTSE-100 will open around 20 points down this morning
• Last night on Wall Street the DJIA eased from the recent bull run, closing down 2.10 points at 11,100.4, with
the NASDAQ finishing the session 15.99 points lighter at 2,054.47.
• Stocks fell modestly as nervousness about the second-quarter gross domestic product report prompted investors
to take profits from earlier gains.
• The US dollar was trading mixed against major currencies as investors marked time ahead of the release tonight
of the data for the June quarter, traders said.
• After the close NYSE Group, operator of the world's largest stock exchange, indicated that its second-quarter
profit more than quadrupled
• Wall St lost ground into Thur"s close as oil price firmed on the latest middle east developments, which indicate
no end in sight of the conflict
• UK"s NIESR called for a BoE/MPC rate hike before the end of the year
• Meanwhile, soaring energy prices catapulted EXXON MOBIL to a second-quarter profit of more than 10 billion
USD and promised to ignite industry wide growth -- and public outrage -- all year.
USA
Figures out:
13:30 US GDP (Q2) sa, annualised % Exp 3.8 Prev 5.6
price index, % Exp 3.0 Prev 3.1
13:30 US employment cost index (Q2) %q/q Exp 0.9 Prev 0.6
14:45 US University of Michigan consumer sentiment (Jun-final ) Exp 82.0 Prev 83.0
• The first estimate of US economic growth in Q2 is the main event
today. Given growing anxieties about the outlook for the US economy and speculation about a
pause in monetary policy tightening, an above-trend Q2 GDP outturn
close to a 4% annualised rate could have a significant impact on Fed
expectations
Europe
Figures out:
09:00 EZ Jun M3 & Private Loans
• HSBC changes ECB rate forecast - expect 3.5% by year end prev. forecast was 3.0.rising monetary growth and
inflation expectations, encourage ECB to revert to a neutral stance.
Canada
13:30 CA industrial product price (Jun) %m/m Prev 0.3
raw materials price index, %m/m Prev 5.6
EURO - US DOLLAR @ 1.2693 GB POUNDS US DOLLAR @ 1.8591 GBP EURO @ 1.4644 USDJPY @ 115.54
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