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Daily Briefing – Monday, June 19, 2017


S&P futures rose in overnight trading in Asia and are set to be bright green throughout the day, except the Nasdaq, which is still shedding sell0off blues. This Thursday the US Federal Reserve will be publishing its annual; stress test gauging the abilities of major banks to deal with economic instability. Investors are hoping to see higher dividends if the payout/profit formula is updated as a result of report’s data.



Equities begin the week optimistically as Brexit talks open and French PM Macron’s party colleagues conquer parliament. The chief economist at the German investment bank, Berenberg, told Reuters that France was on its way to overtake Germany as Europe’s strongest economy. In the UK the GBP was slightly higher after U.K. Treasury head Hammond said that leaving the EU without a deal would be very bad. Retail sales are expected to rise throughout the continent as construction output rises out of the negative to 0.3% Mom.



Tech stocks are returning to normal across Asia as solid data emanates from New Zealand by Moody’ cutting their ratings of Australia’s 4 major banks. Australia’s central bank governor Lowe said he expects the nation’s economy to grow but warned that wage growth is weak. The yen showed weakness throughout the session after Japan’s trade surplus narrowed 0.13%in May. Exports, at 15% above last year’s number, are at a 2-year high but imports rose 17%. The IMF is urging Japan not to let up on fiscal policy, which has slowly been able to bring about an economic recovery.



McDonalds has followed Citigroup, Hilton, AT&T and others in pulling sponsorship from the Olympics, which will take place in Asia during the next 15 years – hindering advertising exposure to major European and American markets.


Today’s Events

3 PM GMT Germany: BUBA President’s speech
11 PM GMT US: Fed’s Evans’ speech
0:30 AM GMT (+1) Australia: Housing prices followed at 1:30 by the RBA’s meeting minutes.

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