June E-mini S&Ps (ESM13 +0.37%) this morning are up +0.36% and European stocks are up +0.51%. Asian stocks closed lower: Japan -0.85%, Hong Kong -1.05%, China -1.28%, Taiwan -1.05%, Australia -1.12%, Singapore -1.54%, South Korea closed for holiday, India -0.25%. As expected, the BOE kept its benchmark rate unchanged at 0.50% and held its asset purchase target at 375 billion pounds. The markets now await the ECB interest rate decision and ECB President Draghi's press conference later this morning. Commodity prices are mostly higher as the dollar falls. July WTI crude oil (CLN13 +0.60%) is up +0.50%, July gasoline (RBN13 +0.04%) is down -0.05%, July natural gas (NGN13 -0.05%) is down -0.10%, Aug gold (GCQ13 +0.40%) is up +0.46% and July copper (HGN13 -1.33%) is down -1.13%. Agriculture prices are lower. The dollar index (DXY00 -0.14%) is down -0.23% at a 4-week low. EUR/USD (^EURUSD) is up +0.16% at a 4-week high ahead of an ECB meeting that is expected to leave interest rates unchanged. USD/JPY (^USDJPY)is down -0.04%. September 10-year T-note futures prices (ZNU13 +0.12%) are up +3.5 ticks.
German Apr factory orders fell -2.3% m/m (sa) and -0.4% y/y (nsa), weaker than expectations of -1.0% m/m (sa) and +0.9% y/y (nsa).
Spain sold 4.02 billion euros of government debt, meeting its maximum target of 4 billion euros, of 2-year, 3-year and 10-year maturities.
The UK May Halifax house prices rose +0.4% m/m and +2.6% 3-mo/year-over-year, higher than expectations of +0.2% m/m and +2.5% 3-mo/year-over-year.
The UK May Lloyds employment confidence rose to -37 from -41 in April, its best level in 7 months.
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