Today the focus is on Eurozone production, Oil’s new highs, and British shoppers.
The British Average Earnings Index + Bonuses will be released. Forecast: 4.9% If the data is higher than expected the GBP could receive a positive push.
Assets to trade: GBP/USD, NZD/GBP, GBP/JPY
The US Core Retail Sales (MoM) for May will be announced. Forecast: 0.2% If the result is lower than forecast, the USD could receive a negative push.
Assets to trade: NZD/USD, USD/CAD, USD/CLP
The US Producer Price Index (PPI) (MoM) will be published. Forecast: 0.6% If the data is lower than predicted the USD could receive negative pressure.
Assets to trade: USD/MXN, USD/JPY, USD/CAD
Shopper numbers across Britain fell 6.7% in the week to June 12 compared with the previous week, which had been boosted by a school holiday and improved weather. Affects GBP
Eurozone industrial production was stronger than expected in April, driven by a more than doubling of durable consumer goods output from a year earlier as economies steadily reopened after COVID-19 pandemic lockdowns. Affects EUR
More government support for UK businesses is likely if there is a delay to easing Britain’s lockdown restrictions due to a rise in cases of the Delta variant of the coronavirus. Affects GBP
Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Affects Brent
Google on Monday unveiled an option for small businesses to upgrade their Gmail accounts for greater calendaring, video chat and email newsletter functionalities. Affects Google
The British economy has made great strides since it began to open, but new concerns of rising Delta variant cases have people concerned. While the US continues to open the and the economy regains footing worries about the Fed’s inevitable tapering loom large.
The pair has shown a Tweezer Bottom indicating a reversal, but the resistance level may force it back down.
The pair has shown a Three Outside Up pattern heading into its resistance level, momentum may not be strong enough to break the line.
The US giant has broken its latest resistance level and could continue to climb.