EUR/USD hovers around 1.1000 – key levels

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The shared currency extends its upward trajectory into a fifth day versus the US dollar in mid-Asia, pushing EUR/USD to fresh session highs above 1.10 handle. The major is seen picking up pace on the back of broad based US dollar weakness as weak US home sales data continue to weigh on the greenback.

EUR/USD rises from 1.0971

The EUR/USD pair trades 0.18% higher at fresh session highs of 1.1005, finally reclaiming 1.10 handle. The bid tone around the EUR/USD pair keeps growing bigger in the mid-Asian session as the European currency continues to benefit from the recent Greek optimism and broad USD weakness.

EUR/USD Technical Levels

The pair has an immediate resistance at 1.1019 (July 23 High) levels, above which gains could be extended to 1.1036 (July 15 High) levels. On the flip side, support is seen at 1.0971 (Today’s Low) below which it could extend losses to 1.0924 (July 24 Low) levels.

Source: FxStreet

Minyak Tahan Penurunan Ditengah Meningkatnya Aktifitas Pengeboran Di AS

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Minyak tahan penurunan memasuki bear market terkait reboundnya pengeboran minyak AS menambahkan tanda-tanda bahwa produsen akan terus memproduksi minyak mentah ditengah melimpahnya pasokan global.

Minyak berjangka sedikit berubah di New York setelah mencatat penurunan 5,4% pekan lalu. Jumlah rig minyak naik 21 hingga 659, kenaikan mingguan ketiga bulan ini, menurut Baker Hughes Inc Spekulan memangkas posisi net-long pada minyak mentah West Texas Intermediate ke level terendah dalam lebih dari dua tahun terakhir, menurut Data Komisi Perdagangan Berjangka Komoditi.

Minyak WTI untuk pengiriman September berada di level $ 48,07 per barel dalam perdagangan elektronik di New York Mercantile Exchange, turun 7 sen, pada 11:06 pagi waktu Sydney. Kontrak turun 31 sen menjadi $ 48,14 pada hari Jumat, level terendah sejak 31 Maret Volume semua kontrak berjangka yang diperdagangkan adalah 27% di bawah rata-rata 100 hari. Harga telah merosot lebih dari 20% sejak mencapai level puncaknya pada bulan Juni, memenuhi definisi umum dari bear market.

Jenis Brent untuk pengiriman September adalah 3 sen lebih tinggi pada level $ 54,65 per barel di ICE Futures Europe exchange London. Harga turun 4,3% pekan lalu. Acuan minyak mentah Eropa dipeerdagangkan lebih tinggi sebesar $ 6,59 dibanding WTI.(yds)

Sumber: Bloomberg

Topix Declines Amid Commodity Slump Ahead of Japan Earnings

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Japanese stocks fell as a commodities slump deepened and poor earnings in the U.S. heightened investor concerns ahead of the start to Japan’s earnings season.

Hitachi High-Technologies Corp. sank 9 percent after operating profit shrank. SMC Corp. fell 2.3 percent after Barclays Plc lowered its rating on the industrial-parts maker. Shippers led gains on prospects for lower fuel costs and as the Nikkei newspaper reported first-quarter profit at Nippon Yusen KK will rise 70 percent, sending shares 2.4 percent higher.

The Topix index dropped 0.8 percent to 1,642.37 at the trading break in Tokyo, with all but three of its 33 industry groups declining, after the measure fell 0.4 percent last week. The Nikkei 225 Stock Average lost 0.7 percent to 20,394.41. Oil held losses in a bear market as a rebound in U.S. drilling added to signs producers will keep pumping amid a global glut. Weak earnings in the U.S. have soured sentiment as investors await a slew of financial reports this week from Japanese companies such as Fanuc Corp., Sony Corp. and NTT Docomo Inc.

The commodities collapse that has forced crude oil into a bear market and sent gold to a five-year low isn’t showing any signs of slowing. Oil futures were little changed in New York after capping a 5.4 percent decline last week. Gold futures in New York are poised for the biggest monthly loss in two years.

Source: Bloomberg

Chinese Stocks Decline for Second Day Amid Signs of Weak Growth

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China’s stocks fell for a second day, led by technology and industrial companies.

The Shanghai Composite Index retreated 1.5 percent at 9:34 a.m. local time, extending Friday’s 1.3 percent decline. The Hang Seng China Enterprises Index slumped 1.8 percent, heading for its lowest close since July 8.

Profit at China’s industrial companies dropped 0.3 percent in June from a year earlier, the statistics bureau said Monday, after data Friday showed a private gauge of manufacturing in the nation unexpectedly declined in July to the lowest level in 15 months.

Source: Bloomberg

Chinese Stock-Index Futures Drop Before Industrial Profits

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Indeks saham berjangka China turun sebelum dirilisnya laba perusahaan industri mereka.

Indeks CSI 300 berjangka untuk pengiriman Agustus menurun 1,8 persen pada 09:17 pagi waktu setempat. Indeks Shanghai Composite turun 1,3 persen menjadi 4,070.91 pada Jumat kemarin, memangkas  kenaikan  minggu kemarin sebesar 2,9 persen. Sementara Indeks  Hang Seng China Enterprises juga turun sebesar 1,3 persen pada Jumat lalu.

Keuntungan sektor  industri di bulan Juni akan memberikan petunjuk lebih lanjut tentang kekuatan ekonomi setelah pada awal Jumat lalu PMI membaca dari indeks Caixin Media dan Markit Economics. Flash PMI berada di level 48,2 pada Juli, turun sebesar 49,4 dari bulan sebelumnya. Estimasi median pada  survei Bloomberg adalah untuk menaikan ke level 49,7.(mrv)

Sumber: Bloomberg