Posted at 15 June 2021 / Categories Market Roundups
Market Roundup
• UK May Claimant Count Change -92.6K, -15.1K previous
• UK Apr Average Earnings ex Bonus 5.6%,5.3%forecast, 4.6% previous
• UK Apr Average Earnings Index +Bonus 5.6%,4.9% forecast, 4.0% previous
• UK Apr Unemployment Rate 4.7%, 4.7% forecast, 4.8% previous
•German May CPI (YoY) 2.5%,2.5% forecast, 2.0% previous
•German May CPI (MoM) 0.5%, 0.5% forecast, 0.7% previous
•German May HICP (YoY) 2.4%, 2.4% forecast, 2.1% previous
• UK Apr Employment Change 3M/3M (MoM) 113K, 150K forecast, 84K previous
• German May HICP (MoM) 0.3%, 0.3% forecast, 0.5% previous
•French May CPI (MoM) 0.3%, 0.3% forecast, 0.1% previous
•French May HICP (YoY) 1.8%, 1.8% forecast, 1.6% previous
•French May HICP (MoM) 0.3%, 0.4% forecast, 0.2% previous
•French CPI (YoY) 1.4%,1.4% forecast, 1.4% previous
• Italian May CPI (MoM) 0.0%, 0.0% forecast, 0.4% previous
• Italian May CPI (YoY ) 1.3% , 1.3% forecast, 1.1% previous
•EU Trade Apr Balance 10.9B, 15.8B previous
Looking Ahead - Economic Data (GMT)
•12:15 Canada May Housing Starts 270.0K forecast, 268.6K previous
•12:30 US May Core PPI (YoY) 4.8% forecast, 4.1% previous
•12:30 US May Core Retail Sales (MoM) 0.2% forecast, -0.8% previous
•12:30 US May PPI (MoM) 0.6% forecast, 0.6% previous
•12:30 US May Retail Sales (MoM) -0.8% forecast, 0.0% previous
•12:30 US May Retail Sales Ex Gas/Autos (MoM) -0.8% previous
•12:30 US May Core PPI (MoM) 0.5% forecast, 0.7% previous
•12:30 US May PPI (YoY) 6.3% forecast, 6.2% previous
•12:30 US Jun NY Empire State Manufacturing Index 23.00 forecast, 24.30 previous
•12:30 US May Retail Control (MoM) -0.6% forecast, -1.5% previous
•12:55 US Redbook (YoY) 14.5% previous
•13:15 US May Manufacturing Production (MoM) 0.6%forecast, 0.2% previous
•13:15 US May Industrial Production (YoY) 17.59% previous
•13:15 US May Capacity Utilization Rate 75.1% forecast, 74.6% previous
•13:15 US May Industrial Production (MoM) 0.6% forecast, 0.5% previous
•14:00 US Apr Retail Inventories Ex Auto 0.5% previous
•14:00 US Jun NAHB Housing Market Index 83 forecast, 83 previous
•14:00 US Apr Business Inventories (MoM) -0.1% forecast, 0.3% previous
•15:30 New Zealand GlobalDairyTrade Price Index -0.9% previous
Looking Ahead - Economic events and other releases (GMT)
•No significant events
Fxbeat
EUR/USD: The euro dipped on Tuesday as dollar strengthen ahead of the Federal Reserve’s two-day policy meeting. The two-day Federal Open Market Committee (FOMC) meeting starts on Tuesday, with a final statement published after the meeting of the Fed's monetary policymaking body ends on Wednesday. Traders around the world are looking for any hints about whether and when the Fed plans to taper its bond-buying programme as the U.S. economy bounces back from the pandemic fallout. Immediate resistance can be seen at 1.2134 (38.2%fib), an upside break can trigger rise towards 1.2158 (30DMA).On the downside, immediate support is seen at 1.2099 (50DMA), a break below could take the pair towards 1.2050(23.6% fib).
GBP/USD: Sterling declined against dollar on Tuesday following announcement from UK to delay to end of COVID restrictions, as the government tries to slow a rapid rise in COVID-19 infections. The pound was affected by news that the UK is set to delay its reopening from COVID-19 lockdown restrictions by one month due to the rapid spread of the more infectious Delta variant. The pound was down 0.36% against the dollar, at $1.4053 at 12:10 GMT.Immediate resistance can be seen at 1.4112 (50% fib), an upside break can trigger rise towards 1.4133 (5 DMA).On the downside, immediate support is seen at 1.4059 (38.2%fib), a break below could take the pair towards 1.4000 (Psychological level).
USD/CHF: The dollar edged higher against the Swiss franc on Tuesday as traders were cautious ahead of the two-day Fed meeting, which may indicate plans to start tapering its bond purchases. Fed officials headed by Chairman Jerome Powell have emphasized that the rise in inflationary pressures is temporary and that the ultra-light monetary setting will be maintained for a period of time. However, recent economic data has raised concerns that price pressures may trigger stimulus withdrawal. Immediate resistance can be seen at 0.9024(38.2%fib), an upside break can trigger rise towards 0.9088 (50% fib).On the downside, immediate support is seen at 0.8973 (5DMA), a break below could take the pair towards 0.8930 (23.6%fib).
USD/JPY: The dollar steadied against the yen on Tuesday as investors cautiously awaited the outcome of the highly anticipated Fed meeting to check whether the central bank will change the U.S. monetary policy outlook. As the U.S. economy recovers from the effects of the pandemic, traders around the world will pay close attention to clues in the Fed’s statement to understand if and when the Fed plans to cut its bond purchase program. The two-day meeting starts on Tuesday. Strong resistance can be seen at 110.33 (23.6% fib), an upside break can trigger rise towards 110.57 (April 6th high).On the downside, immediate support is seen at 109.75(38.2%fib), a break below could take the pair towards 109.28 (50% fib).
Equities Recap
European shares rose for an eighth straight session as optimism around a speedy economic recovery across the region lifted industrial stocks, while technology shares tracked an overnight jump in their U.S. peers.
At (GMT 12:20 ),UK's benchmark FTSE 100 was last trading up at 0.55 percent, Germany's Dax was up by 0.57 percent, France’s CAC finished was up by 0.53 percent.
Commodities Recap
Gold prices were subdued in a tight range on Tuesday ahead of a U.S. Federal Reserve meeting that could provide an indication on the eventual withdrawal of economic support.
Spot gold edged 0.1% lower to $1,863.30 per ounce by 1130 GMT. Prices touched a near one-month low of $1,843.99 on Monday.
Oil prices rose on Tuesday, holding near multi-year highs, amid optimism that demand will recover rapidly in the second half of this year.
Brent crude was up by 52 cents, or 0.7%, at $73.38 a barrel by 1028 GMT, close to a late April 2019high. U.S. oil gained 49 cents, or 0.7%, to $71.37 a barrel, near a 32-month high