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US indices finished yesterday’s session higher. S&P 500 gained 0.60%, Dow Jones and Nasdaq added 0.78% each while Russell 2000 rallied 1.81%
- Moods in Asia were mixed. S&P/ASX 200 and Nikkei gained while Kospi and indices from China dropped
- DAX futures point to a flat opening of the European session
- RBA forecasts 5% inflation at the end of 2021, followed by 4.25% and 4% in 2022 and 2023 respectively. GDP is expected to reach 4% this year, followed by 4.25% and 2.5% in 2022 and 2023, respectively
- RBA Governor said that weaker AUD is a result of RBA policy but not its target
- Japanese household spending dropped 5.1% YoY in June (exp. 0.2% YoY)
- Fed Kashkari said that “substantial progress” on labour market goals has not been made yet. He also said that cryptocurrency market is full of nonsense
- Bitcoin climbed above $40,000 mark
- Precious metals trade lower with silver being top laggards (-0.4%). Oil inches higher while industrial metals gain
- USD and EUR are the best performing major currencies while AUD and NZD lag the most. Ranges on the FX market are narrow though
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