Volatility Reigns Supreme

Market volatility witnessed a substantial pickup across asset classes last week after emerging risk factors such as a Chinese equity market meltdown and Greek exit concerns became increasingly real amid rising demands from creditors. More volatility is in the pipeline as anxiety towards the global growth outlook replaces the optimism of the prior few months. http://bit.ly/1LazeNn 

New Day, New Deadline

In spite of replacing the Finance Minister, Greek banks will remain closed until Thursday with the nation no closer to reaching an agreement with creditors. The clock is running out after defaulting on an IMF loan and no receipt of expanded assistance from the European Central Bank. http://bit.ly/1MdRp3f

As creditors bear down on Greece, the nation is increasingly cornered financially as evidenced by the bank closures and creeping social unrest. However, Greece has no intention to leave the Euro Area and is trying to stay a part of Europe no matter the cost.

US Fundamentals Diverge

While most analysts are looking towards the optimism in the housing sector, this confidence is likely misplaced considering the steep decline in other sectors of the economy like manufacturing. Data yesterday showed the divide growing as the Fed telegraphs the substantial possibility of a September liftoff.  http://bit.ly/1IdCOFN

(via https://www.youtube.com/watch?v=CbBLrPpBKYg)

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The Reserve Bank of New Zealand took markets by surprise overnight after cutting the benchmark interest rate from 3.50% to 3.25%. This marks the first interest rate cut since 2011 when the Central Bank cut from 3.00% to 2.50% before hiking again in 2014. However, in the subsequent statement, RBNZ Governor Graeme Wheeler cited the weakness in dairy prices and rising fuel prices as the reason behind the latest policy shift. Taking into account these factors coupled with slowing growth in Australia and China, the RBNZ thinks that further interest rate cuts might also prove appropriate depending on how the situation unfolds and how inflation responds to the latest modification of monetary policy. To the South, Australian unemployment managed to show surprising gains overnight, with the rate falling to 6.00% from 6.10% in the prior period. The AUDNZD pair has soared on the data, rising over 300 pips in the last twelve hours.

Copper Equidistant Channel Technical Pattern bit.ly/1e2BRV5

(via https://www.youtube.com/watch?v=bnAj5nnfisg)

*China Suffers Another Setback, Swiss Unemployment Holds Steady*

Inflationary figures released overnight show that policymakers have a long ways to go in order to restore growth in the local economy as overcapacity lingers amid the global downturn in trade. However, ambitious plans to connect to new markets across Europe, Asia, Africa, and South America are expected to open opportunities to export spare industrial capacity. http://bit.ly/1eZMs3u

Japan's First Quarter GDP Numbers Reflect Growing Economic Prowess http://bit.ly/1KPMm8t 

(via https://www.youtube.com/watch?v=AnPbQ6Tzw54)

ECB President Draghi Warns on the Potential for a Sharp Uptick in Volatility http://bit.ly/1Ikt7Gv

Rise in Personal Income Fails to Translate to Spending Gains  http://bit.ly/1FoX7Kc

Spectacular Rally in Chinese Equities Leads to Rapid Reversal Downwards http://bit.ly/1G241vy 

Positive Momentum From the Housing Sector Drives GDP Expectations Higher  http://bit.ly/1Kzh1tI

Flare Up in Violence Across the Gulf Continues to Propel Energy Price Momentum http://bit.ly/1erA9MY

(via https://www.youtube.com/watch?v=bLO5hSS5Xw8)