General sentiment

Asian shares shake off earlier losses from a set of disappointing Chinese economic data, Chinas Caixin manufacturing PMI slowed down this Monday, weighing on sentiment. In addition to China new regulatory reforms still ongoing. With the US halting Chinese companies from U.S. listing till better risk disclosures. Japan’s Nikkei gained back its 1.60% lost in the previous session.

Focus this week will fall under Bidens infrastructure plan bill passing, Reserve bank of Australia meeting, and BOE decision this week.

Equities

On Wallstreet, All 3 Major indices ended in the red after Amazon shares fell 7.6% its biggest percentage drop since the essence of the pandemic last March 2020, when they forecasted lower sales growth due to re-openings of economies. Other shares like GOOGL and FB ended lower as well. Despite earnings beating analysts’ forecasts and establishing record highs in Q2. Slow growth forecasts weighed on sentiment.

Currency Market:

The U.S. dollar traded just above its one-month low, continuing to slide ahead of the RBA decision and U.S. Job report later this week. The Greenback nudged lower 0.12% to 92.07.

The GBP/USD dropped 0.01% to 1.390 ahead of the BOE policy decision this Thursday.

The USD/CNY inched up to 6.46 after the Caixin manufacturing PMI was lower than expected.

Commodities: Gold

Gold steadied this morning at $1,811.34. ahead of US job report, losing some ground to stronger USD.

Commodities: Oil

Oil prices dropped over recovery concerns and a dimmed fuel outlook.

Brent lost $1.02 at $74.39 a barrel, while WTI lost 91 cents to $73.04.