Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when spread betting and/or trading CFDs with this provider. You should consider whether you understand how spread bets and CFDs work and whether you can afford to take the high risk of losing your money.
News

North Korea, RBA and Canada PMI in focus amid light US holiday trading

Stock markets around the world are trading down slightly,  essentially treading water with US markets closed for the Independence Day holiday following a half session on Monday. 

US markets were mixed on Monday, with the Dow rallying 0.6% and the NASDAQ falling 0.4%, as national PMI reports came in well above expectations, and new orders surged. At mid-morning today, we’ll see if US strength has spilled over into Canada. CAD is up slightly against USD heading into the news with USD/CAD still trading below $1.3000. 

Overseas stocks and crude oil are trading moderately lower today, with the FTSE, Dax, Nikkei and WTI crude oil all trading down 0-0.25%. UK construction PMI came in slightly below expectations.

North Korea celebrated the 4 July US holiday with a long-range missile launch, which has unsettled some nerves and sent gold up 0.4% on the day.  

The biggest action in currency markets so far today has been around central bank meetings. AUD and SEK  are both under pressure as their central banks (RBA and Riksbank respectively) declined to join the hawkish shift seen at a number of other central banks lately. In this environment, neutrality is now being seen as relatively dovish. 

Economic news

Significant announcements released overnight include:

Australia interest rate 1.50% no change as expected
Sweden interest rate (0.50%) no change as expected

UK construction PMI 54.8 vs estimates at 55.0

Australia retail sales 0.6% vs estimates at 0.2%

Upcoming significant economic announcements include:

9.30am (EDT) Canada Markit manufacturing PMI (previous 55.1)


CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person.


Disclaimer: CMC Markets is an execution-only service provider. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.