Marketmind: What if transitory is not so transitory after all?

Friday, July 16, 2021
Marketmind: What if transitory is not so transitory after all? © Reuters. FILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis

A look at the day ahead from Dhara Ranasinghe.

The U.S. Federal Reserve is sticking with the mantra that inflation is transitory and there's no rush to tighten policy but some others are feeling uneasy.

On Thursday, Michael Saunders became the second Bank of England rate setter in two days to signal it may be time to consider reining in stimulus as inflation ramps up. Earlier this week central banks in Canada and New Zealand took steps towards unwinding post-crisis stimulus.

No surprise then that two-year gilt yields shot up 6 basis points after Thursday's BoE comments in the biggest one-day jump since February. In contrast, U.S. bond yields continue to be pinned down by Fed chief Jerome Powell's dovish rhetoric.

But another run of strong data could test the Fed's resolve too; figures due later this session are expected to see U.S. June retail sales rose in June after declining in May.

In the meantime, equity markets are struggling to hold their nerve in the face of a continued surge in coronavirus infections globally.

Japan's benchmark Nikkei share average fell below the psychologically key 28,000 mark and MSCI's Asia stock index, excluding Japan, was last down 0.3%.

European and U.S. stock futures were mixed.

The dollar was headed for its best weekly gain in about a month, supported by investors' drift toward safety.

Oil prices were a touch weaker, staying under pressure after a compromise deal between leading OPEC producers and a surprisingly poor weekly reading on U.S. fuel demand. [O/R]

Key developments that should provide more direction to markets on Friday:

- BOJ cuts growth forecast, unveils climate scheme plan

- Ericsson (BS:ERICAs) Q2 earnings below market estimates; Burberry reports "excellent start" to its new year, with full-price sales accelerating; Puma raises 2021 outlook nASN001G8Y]

- German car registrations

- U.S. bond sales data

- Federal Reserve events:  New York Fed President John Williams speaks

- U.S. earnings: State Street (NYSE:STT), Honeywell (NASDAQ:HON), General Electric (NYSE:GE)

- European earnings: Sandvik, Adtech, Husquarna, Handelsbanken, Swedbank, Richemont trading statement,

-Fitch to review Greek rating

Graphic: Bond yields, UK, US - https://fingfx.thomsonreuters.com/gfx/mkt/jznvnywqjpl/GB1607.png

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27-07-2021 19:35:44 (UTC+7)

EUR/USD

1.1816

+0.0016 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

EUR/USD

1.1816

+0.0016 (+0.14%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (1)

GBP/USD

1.3816

0.0000 (0.00%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (2)

Sell (6)

USD/JPY

110.00

-0.34 (-0.31%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

AUD/USD

0.7368

-0.0012 (-0.16%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (6)

USD/CAD

1.2560

+0.0020 (+0.16%)

Summary

Neutral

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (4)

Sell (4)

EUR/JPY

129.96

-0.23 (-0.18%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (0)

Sell (9)

EUR/CHF

1.0808

+0.0001 (+0.01%)

Summary

↑ Buy

Moving Avg:

Buy (10)

Sell (2)

Indicators:

Buy (8)

Sell (1)

Gold Futures

1,805.15

+5.95 (+0.33%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Silver Futures

25.242

-0.076 (-0.30%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (7)

Copper Futures

4.5650

-0.0200 (-0.44%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (8)

Sell (1)

Crude Oil WTI Futures

71.86

-0.05 (-0.07%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (9)

Brent Oil Futures

73.78

+0.08 (+0.11%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Natural Gas Futures

4.036

-0.046 (-1.13%)

Summary

Neutral

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

Sell (2)

US Coffee C Futures

204.18

-3.62 (-1.74%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Euro Stoxx 50

4,074.38

-28.21 (-0.69%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

S&P 500

4,422.30

+10.51 (+0.24%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (9)

Sell (0)

DAX

15,527.20

-91.78 (-0.59%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

FTSE 100

6,987.45

-37.98 (-0.54%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (7)

Hang Seng

25,060.87

-1159.13 (-4.42%)

Summary

↑ Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (8)

Sell (0)

US Small Cap 2000

2,216.03

+6.38 (+0.29%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (6)

Sell (0)

IBEX 35

8,658.00

-117.20 (-1.34%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (7)

BASF SE NA O.N.

66.845

-0.695 (-1.03%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (9)

Bayer AG NA

50.42

-0.98 (-1.91%)

Summary

↑ Sell

Moving Avg:

Buy (1)

Sell (11)

Indicators:

Buy (0)

Sell (10)

Allianz SE VNA O.N.

209.30

-1.60 (-0.76%)

Summary

↑ Sell

Moving Avg:

Buy (2)

Sell (10)

Indicators:

Buy (0)

Sell (7)

Adidas AG

310.77

-1.18 (-0.38%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (1)

Sell (8)

Deutsche Lufthansa AG

9.935

+0.088 (+0.89%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (0)

Sell (11)

Siemens AG Class N

132.58

-1.98 (-1.47%)

Summary

↑ Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (0)

Sell (8)

Deutsche Bank AG

10.510

-0.150 (-1.41%)

Summary

↑ Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (0)

Sell (7)

 EUR/USD1.1816↑ Buy
 GBP/USD1.3816Sell
 USD/JPY110.00↑ Sell
 AUD/USD0.7368Sell
 USD/CAD1.2560Neutral
 EUR/JPY129.96Sell
 EUR/CHF1.0808↑ Buy
 Gold1,805.15↑ Buy
 Silver25.242↑ Sell
 Copper4.5650↑ Buy
 Crude Oil WTI71.86↑ Sell
 Brent Oil73.78↑ Sell
 Natural Gas4.036Neutral
 US Coffee C204.18↑ Sell
 Euro Stoxx 504,074.38↑ Sell
 S&P 5004,422.30↑ Buy
 DAX15,527.20↑ Sell
 FTSE 1006,987.45↑ Sell
 Hang Seng25,060.87↑ Buy
 Small Cap 20002,216.03↑ Buy
 IBEX 358,658.00↑ Sell
 BASF66.845↑ Sell
 Bayer50.42↑ Sell
 Allianz209.30↑ Sell
 Adidas310.77↑ Sell
 Lufthansa9.935↑ Sell
 Siemens AG132.58↑ Sell
 Deutsche Bank AG10.510↑ Sell
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank5,660/ 5,715
(-5/ -5) # 712
SJC HCM5,660/ 5,730
(-20/ -15) # 728
SJC Hanoi5,660/ 5,732
(-20/ -15) # 730
SJC Danang5,660/ 5,732
(-20/ -15) # 730
SJC Nhatrang5,660/ 5,732
(-20/ -15) # 730
SJC Cantho5,660/ 5,732
(-20/ -15) # 730
Cập nhật 27-07-2021 19:35:46
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ↀ Giá vàng thế giới
$1,804.79+6.860.38%
Live 24 hour Gold Chart
ʘ Giá bán lẻ xăng dầu
Sản phẩmVùng 1Vùng 2
RON 95-IV2178022210
RON 95-II,III2168022110
E5 RON 92-II2049020890
DO 0.05S1637016690
DO 0,001S-V1672017050
Dầu hỏa1539015690
ↂ Giá dầu thô thế giới
WTI$71.68+0.410.57%
Brent$73.76+0.971.30%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD22.880,0023.110,00
EUR26.476,7927.854,49
GBP31.000,6032.295,52
JPY203,52214,19
KRW17,3221,08
Cập nhật lúc 18:50:40 27/07/2021
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