Posted at 10 June 2021 / Categories Market Roundups
• Italian Apr Industrial Production (MoM) 1.8%, 0.3% forecast, -0.1% previous
• Italian Apr Industrial Production (YoY) 79.5%,72.2% forecast, 37.7% previous
• Greek Apr Industrial Production (YoY) 22.5%, 5.5% previous
• Greek May CPI (YoY) 0.1%,-0.1% forecast, -0.3% previous
• Irish May CPI (MoM) 0.1%, 0.7% previous
• Irish May CPI (YoY) 1.7%, 1.1% previous
• Irish May HICP (YoY) 1.9% , 1.1% previous
•ECB Marginal Lending Facility 0.25%,0.25% previous
•ECB Jun Interest Rate Decision 0.00% ,0.00% forecast, 0.00% previous
•ECB Jun Deposit Facility Rate-0.50% , -0.50% forecast, -0.50% previous
Looking Ahead - Economic data ahead (GMT)
•12:30 US Continuing Jobless Claims 3,602K forecast, 3,771K previous
•12:30 US Initial Jobless Claims 370K forecast, 385K previous
•12:30 US Jobless Claims 4-Week Avg 428.00K previous
•12:30 US May CPI Index, s.a 266.83 previous
•12:30 US May CPI, n.s.a (MoM) 0.82% previous
•12:30 US May CPI Index, n.s.a 268.47 forecast, 267.05 previous
•12:30 US May Core CPI (YoY) 3.4% forecast, 3.0% previous
•12:30 US May CPI (MoM) 0.4%,0.8% previous
•12:30 US May May Core CPI (MoM) 0.4% forecast, 0.9% previous
•13:00 RussiaCentral Bank reserves (USD) 605.9B previous
•US May Cleveland CPI (MoM) 0.2% previous
•US 8-Week Bill Auction 0.015% previous
Looking Ahead - Economic events and other releases (GMT)
•12:30 ECB Press Conference
• 17:00 ECB's Lane Speaks
• 13:40 German Buba Balz Speaks
EUR/USD: The euro was little against dollar on Thursday ahead of a European Central Bank meeting where policymakers are expected to signal they will keep the stimulus taps flowing.While speculation has mounted this year on whether an expected global economic recovery could lead central banks worldwide to dial back on extraordinary monetary easing, ECB officials have played those prospects down recently. The euro rose to a one-week high at $1.2218 on Wednesday only to finish little changed, and was essentially flat at $1.2172 .Immediate resistance can be seen at 1.1212 (23.6%fib), an upside break can trigger rise towards 1.1258 (June 1st high).On the downside, immediate support is seen at 1.2172 (5 DMA), a break below could take the pair towards 1.2148(38.2%fib).
GBP/USD:The British pound declined against the U.S. dollar on Thursday after Britain and the European Union failed to agree on solutions to post-Brexit trade problems in Northern Ireland.The UK and the EU exchanged threats this week in a standoff that could cloud a weekend international summit hosted by Britain.The British currency took a hit after the European Commission Vice President Maros Sefcovic said on Wednesday that the EU was considering advancing its legal challenge to Britain over UK action in Northern Ireland, which could result in a court case by autumn or the eventual imposition of tariffs and quotas. Immediate resistance can be seen at 1.4125(38.2%fib), an upside break can trigger rise towards 1.4145(9DMA).On the downside, immediate support is seen at 1.4069 (Daily low), a break below could take the pair towards 1.4027(50%fib).
USD/CHF: The dollar was little changed against the Swiss franc on Thursday as investors looked to key U.S. inflation data later in the session to potentially set the direction for currency markets. Investors have adopted a wait-and-see attitude all week, sucking volatility from the market and leaving major currencies mostly range-bound.The dollar index has fluctuated narrowly around the psychologically important 90 level, and was last at 90.137. At 12:00 GMT, the dollar was 0.19 percent lower versus the Swiss franc at 0.8949. Immediate resistance can be seen at 0.8986 (5 DMA), an upside break can trigger rise towards 0.9027 (38.2% fib).On the downside, immediate support is seen at 0.8941 (23.6% fib), a break below could take the pair towards 0.8900 (Psychological level).
USD/JPY: The dollar was unchanged against the Japanese yen on Thursday as investors looked to U.S. inflation data later in the session. Investors have adopted a wait-and-see attitude all week, sucking volatility from the market and leaving major currencies mostly range-bound. The U.S. Labor Department's consumer prices data has been much anticipated after last month's report showed consumer prices increased by the most in nearly 12 years in April.That has stoked bets that higher prices could last longer than some anticipate, potentially calling into question the Federal Reserve's insistence that current inflation pressures are transitory and monetary stimulus should stay in place for some time yet. The dollar traded at 109.46 per yen, little changed from Wednesday and near the middle of the 109.19-110.325 range of the past two weeks. Strong resistance can be seen at 109.55(38.2%fib), an upside break can trigger rise towards 110.00 (Psychological level).On the downside, immediate support is seen at 109.q3 (50%fib), a break below could take the pair towards 108.67 (61.8%fib).
European stocks inched lower on Thursday as energy and automakers’ shares slipped, with investors focused on a European Central Bank meeting in the day.
At (GMT 12:00 ),UK's benchmark FTSE 100 was last trading up at 0.15 percent, Germany's Dax was down by 0.12 percent, France’s CAC was last down by 0.40percent.
Gold prices were on the back foot on Thursday as the dollar ticked higher, with investors staying on the sidelines ahead U.S. inflation data later in the day.
Spot gold was down 0.2% at $1,884.18 per ounce, as of 0712 GMT.
Oil prices rose on Thursday a day after slipping on data indicating weak U.S. driving season fuel demand as investors eyed upcoming U.S. economic data.
Brent crude oil futures were up 18 cents, or 0.25%, at $72.40 a barrel by 1024 GMT, holding just shy of a high not seen since May 2019.
U.S. West Texas Intermediate oil futures rose 11 cents, or 0.16%, to $70.07 a barrel, staying near its highest since Oct. 2018.