News & Analysis

European Round-Up: Wednesday 12th June

June 13, 2019

Economic News Releases

  • US Consumer Price Index MoM at 0.1% vs. 0.1% forecast
  • US Consumer Price Index YoY at 1.8% vs. 1.9% forecast
  • US Consumer Price Index Ex Food and Energy MoM at 0.1% vs. 0.2% forecast
  • US Consumer Price Index Ex Food and Energy YoY at 2.0% vs. 2.1% forecast
  • US Real Average Hourly Earnings YoY at 1.3% vs. previous of 1.2%
  • US Real Average Weekly Earnings YoY at 1.0% vs. previous of 0.9%
  • US DOE Crude Oil Inventories at 2206k vs. previous of 6771k

To keep up to date with the upcoming economic events click here for our Economic Calendar.

Forex

  • United States Dollar

Dollar steady today after the latest inflation data from the US.

We saw the CPI rise by 0.1% in the month of May as expected by the analysts and 1.8% from a year ago.

CPI (excluding food and energy, YoY) came out at 2.0% and weaker than the 2.1% projected.

Dollar strengthening the most against the Swiss Franc, up by around 0.23% on the day.

USD/CHF – Daily

  • Great British Pound

The Pound was trading higher against all major currencies during most of the European session today, however, it dipped after MP’s rejected the latest attempt to stop no-deal Brexit with a vote in the Parliament.

Today we also saw Boris Johnson, the favorite to become the next Prime Minister officially launch his bid to take over at Downing Street. He held a press conference in London and stated that aim is not a no-deal Brexit but did not fully rule it out as it is a ”vital tool of negotiation”.

We should know who the next Prime Minister is by the end of July.

Cable trading at around 1.26 level, down by 0.21% on the day.

GBP/USD – Daily

Forex Majors Summary

Commodities 

Oil trading lower today for the third consecutive session. US Crude down by 1.91% at $52.01 per barrel. Brent at $61.02 per barrel down by 1.68% towards the of the European session.

Metal commodities trading higher today with Gold up by 0.68% at $1,335.67. Silver at $14.81, up by 0.53%.

USO/USD – Daily

Indices

Losses for all of the major global Indices today with FTSE100 falling the most, down by 0.38%.

Over in the US both Dow Jones and S&P500 down by 0.19% and 0.17% respectively.

Global Indices Summary

Cryptocurrencies

All of the major digital currencies trading higher today with Litecoin making the most gains again.

World’s fourth largest cryptocurrency up by 8.75% at $139.34 level. Litecoin has been the best performer out of the top 5 cryptocurrencies, gaining by over 30%.

Cryptocurrency Summary

By Klavs Valters  
 @klavsvalters

Sources: GO Markets MetaTrader 5, Datawrapper, Tradingview, CoinMarketCap, Bloomberg

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