News, Trends, & Analytics 15.06.2021

Today the focus is on Eurozone production, Oil’s new highs, and British shoppers.

 

Calendar

6:00 UTC

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


12:30 UTC

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


12:30 UTC

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

 

News

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

 

Technical Analysis

GBP/USD

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.

AUD/JPY

The pair has shown a Three Outside Up pattern heading into its resistance level, momentum may not be strong enough to break the line.

Amazon

The US giant has broken its latest resistance level and could continue to climb.


Risk warning:

The information provided does not constitute a recommendation to carry out transactions. When using this information, you are solely responsible for your decisions and assume all risks associated with the financial result of such transactions.

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