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Breakfast Bites - Largest OpEx and Slowing PMIs
PMIs slow in Australia and Europe; US Housing still under pressure
Ayesha Tariq
June 21, 2024
Rise and shine everyone.
It’s Options Expiry day. Since today is also the quarterly expiry, we have reportedly the highest level of expiry, ever!
This could certainly make things dicey today. GS reports $5.1 Trillion. ⤵️
Over in Asia, we saw the USD/JPY cross 160 yet again. We had Japan’s PMI readings come in softer and inflation numbers come in mostly higher. Japanese equities, however, didn’t react much to the macro data. Other Asian markets also closed mostly lower, after yesterday’s US close.
Europe is mixed this morning with the UK higher and the rest of the Euro Area showing some weakness after PMIs showed a slowdown.
US equity futures are also lower, when Nvidia pulled back late in the day yesterday, after crossing the $140 mark. Most of the Mag 7 remains muted in the pre-market. UST yields are lower as well. Commodities are also seeing pressure, other than Gold and Platinum while the US Dollar Index is flat.
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