Daily digest market movers: Dollar gears up
- Traders must have raised their eyebrows in Asian hours when comments from Bank of Japan (BoJ) member Shinichi Uchida said that the BoJ would not raise rates if markets were unstable. This pushed the Yen down by 1% against the US Dollar in an initial reaction.
- At 11:00 GMT, the Mortgage Bankers Association has released its weekly Mortgage Application Index. The previous number was at -3.9%, with this week's number coming in positive at 6.9%
- At 17:00 GMT, the US Treasury will allocate a 10-year Note in the market. Previous interest was 4.276%, while the US 10-year note currently trades around 3.90%, a substantial discount.
- US Consumer Credit Change data for June is set to be released at 19:00 GMT, with expectations for a drop to $10 billion from $11.35 billion a month earlier.
- Equity markets are on a winning streak, with both the Japanese Nikkei and Topix indexes in the green. European equities are also doing great, on average up 1%, while the US futures are just shy of 1%.
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