Index futures were little changed overnight with Wall Street closed for the Independence Day holiday. Today focus shifts to the U.S. nonfarm payroll report for June.
US30USD Daily Chart
- The US30 index edged marginally higher yesterday amid muted activity, closing higher for a sixth consecutive day
- The 100-day moving average at 26,031 and the 55-day average at 26,095 are on a convergence path, with a crossover possible by the end of next week
- The U.S. economy is expected to have added 160,000 jobs in June, higher than May’s disappointing 75,000. Unemployment is seen unchanged at 3.6% while average hourly earnings are forecast to rise 0.3% m/m.
DE30EUR Daily Chart
- The Germany30 index drifted lower from 11-month highs yesterday, lacking direction from a closed Wall Street
- The index is still managing to hold its advance above the 78.6% Fibonacci retracement of the May-December drop last year at 12,581. The 55-day moving average is at 12,189
- Germany’s factory orders are expected to decline 0.1% m/m in May, the latest survey of economists suggests. ECB’s De Guindos is scheduled to speak again today.
UK100GBP Daily Chart
- The UK100 index is hovering near more than 10-month highs, encouraged by Wall Street at record highs, though with one eye on the Tory party leadership race, with final voting kicking off from tomorrow
- The index is testing the 78.6% Fibonacci retracement of the May-December drop last year at 7,613
- A survey published by an employers group, the Institute of Directors, has shown that British businesses have turned more gloomy about the economy amid a deepening political crisis and the uncertain future of Brexit.