Posted at 28 June 2021 / Categories Market Roundups
Market Roundup
•German May Import Price Index (YoY) 11.8%, 11.3% forecast, 10.3% previous
•German May Import Price Index (MoM) 1.7%, 1.4% forecast, 1.4% previous
•Sweden May Retail Sales (MoM) 2.3%, -1.4% previous
•Sweden May Household Lending Growth (YoY) 5.9%,5.7% previous
•Irish May Retail Sales (MoM) 1.8%, 7.4%
•Irish May Retail Sales (YoY) 44.0%, 90.1% previous
Looking Ahead - Economic Data (GMT)
•13:00 French 12-Month BTF Auction-0.646% previous
•13:00 French 3-Month BTF Auction-0.646% previous
•13:00 French 6-Month BTF Auction-0.646% previous
•14:30 US Jun Dallas Fed Mfg Business Index 34.9 previous
•15:30 US 3-Month Bill Auction 0.045% previous
•15:30 US 6-Month Bill Auction 0.055% previous
•16:00 Russia Business Confidence-0 previous
Looking Ahead - Economic events and other releases (GMT)
•13:00 US FOMC Member Williams Speaks
•14:00 ECB's De Guindos Speaks
Fxbeat
EUR/USD: The euro declined against dollar on Monday as a spike in coronavirus cases across Asia over the weekend hurt investor sentiment. Investors were concerned about a spike in coronavirus infections in Asia with Sydney plunging into a lockdown after a cluster of cases involving the highly contagious Delta strain ballooned. The euro was last down 0.21% at $1.1910. Immediate resistance can be seen at 1.1934 (5DMA), an upside break can trigger rise towards 1.1954 (38.2%fib).On the downside, immediate support is seen at 1.1879 (23.6%fib), a break below could take the pair towards 1.1854 (Daily low).
GBP/USD: The British pound rose on Monday as traders prepare for the end of the worst month against the dollar since September, with the focus this week on political risk. This month, sterling dropped for the first time since April below $1.38 against a strengthening dollar after the U.S. Federal Reserve surprised markets by signalling it would raise interest rates and end emergency bond-buying sooner than expected. Sterling strengthened 0.14% to $1.3889 versus the dollar at 11:30 GMT. Against the euro, the pound rose 0.3% to 85.76 pence. Immediate resistance can be seen at 1.3927 (38.2%fib), an upside break can trigger rise towards 1.4000 (Psychological level).On the downside, immediate support is seen at 1.3841 (23.6% fib), a break below could take the pair towards 1.3787 (Daily low).
USD/CHF: The dollar held steady against the Swiss franc on Monday as investors focus shifted to the US labor market after inflation data came in weaker than expected last week, which barely allayed concerns about the Federal Reserve's reduction in monetary stimulus. Consumer spending stalled in May as shortages affected vehicle purchases, but supply constraints and increased demand for services helped drive prices higher. Immediate resistance can be seen at 0.9218 (38.2%fib), an upside break can trigger rise towards 0.9275(23.6% fib).On the downside, immediate support is seen at 0.9167 (50% fib), a break below could take the pair towards 0.9139(11DMA).
USD/JPY: The dollar declined against the Japanese yen Monday as investors stayed on the sidelines given mixed signals from the Federal Reserve. The Fed announced earlier than expected to tighten monetary policy on June 16, but Fed Chairman Jerome Powell said that inflation will not be the only factor driving interest rate decisions. The dollar was last trading at 0.12 percent higher against the Japanese yen at 110.91 yen. Strong resistance can be seen at 111.00 (Psychological level), an upside break can trigger rise towards 111.15 (23.6% fib).On the downside, immediate support is seen at 111.44 (Higher BB), a break below could take the pair towards 110.29 (14DMA).
Equities Recap
European travel stocks plunged 2% on Monday on a spike in COVID19 cases in Asia, while worries over a sudden drop in ultra-lax global monetary policy amid rising inflation pushed the STOXX 600 below record levels.
At (GMT 11:30 ),UK's benchmark FTSE 100 was last trading down at 0.25 percent, Germany's Dax was up by 0.13 percent, France’s CAC was last down by 0.25 percent.
Commodities Recap
Gold prices were trapped in a tight range on Monday as investors remained wary over mixed signals from U.S. Federal Reserve officials on monetary policy tightening despite weaker-than-expected inflation data.
Spot gold was up 0.2% at $1,783.16 per ounce by 0624 GMT, after hitting its lowest since June 21 at $1,770.36 earlier in the session. U.S. gold futures gained 0.3% to $1,783.60.
Oil prices slipped on Monday after hitting more than 2-1/2 year highs earlier in the session, as a spike in COVID-19 cases in Asia put a brake on their rally before this week's OPEC+ meeting.
Brent was down 20 cents, or 0.3%, to $75.98 a barrel at 1040 GMT, after climbing to $76.60, its highest since October 2018. U.S. crude was 10 cents, or 0.1%, lower at $73.95 a barrel.