Major overnight headlines:
• BoJ Tankan (Q2) Large Manufacturing Outlook Index at 10 versus 7 expected, -1 previously; highest since Q1 2008
• China June manufacturing PMI at 50.1 versus 50.0 expected
• ECB’s Coeure says “looking carefully” at forward guidance, Thomson Reuters, UK Times
• ECB no longer accepting Cyprus government bonds as collateral following ratings changes, Bloomberg
• Australia’s AAA rating supported by “strong fundamentals”, Moody’s says, Thomson Reuters
• Italian June manufacturing PMI at 49.1 from 47.3 previously versus 47.8 expected
• German June (F) manufacturing PMI at 48.6 versus 48.7 expected
• Swedish manufacturing PMI at 53.5 in June versus 51.2 expected
• Olli Rehn says “much work ahead” to complete euro area financial repair, Bloomberg
• UK Hometrack Housing Survey up 0.8% YoY in Jun versus 0.4% previously, biggest gain since late 2010
• UK mortgage approvals at 58.2k in May, highest reading since December 2009
• Euro area manufacturing PMI at 48.8 in June (F) versus an advance read of 48.7
Read the full report: FX Daily
BMO