News, Trends, & Analytics 17.06.2021

US Import Prices Rise

Today the focus is on British inflation, Euro stock highs, and higher US import prices.



9:00 UTC

The European Union’s CPI (YoY) for May will be released. Forecast: 2.0%. If the data is lower than expected, the EUR could receive negative pressure.

Assets to trade: EUR/AUD, EUR/CHF, EUR/USD

12:30 UTC

The US Initial Jobless Claims data will be announced. Forecast: 359K. If the data is lower than expected the USD could receive a positive push.

Assets to trade: USD/NZD, AUD/USD, GBP/USD



U.S. applications for home mortgages rose last week following three consecutive weeks of declines as purchase activity rebounded despite a limited supply of houses for sale. Affects USD

British inflation unexpectedly jumped above the Bank of England’s target in May when it hit 2.1%, part of a post-lockdown climb in prices that is expected gather pace. Affects GBP

U.S. import prices increased more than expected in May as the cost of petroleum products rose and supply chain bottlenecks boosted prices of other goods, adding to signs that inflation was heating up amid a reopening economy. Affects USD

European shares rose for an eighth straight session as optimism around a speedy economic recovery across the region lifted industrial stocks, while technology shares tracked an overnight jump in their U.S. peers. Affects EUR

Germany will not extend beyond the end of June a rule which forces companies to allow working from home because of the coronavirus pandemic, Chancellor Angela Merkel’s chief of staff was quoted as saying on Wednesday. Affects DAX


Technical Analysis


The EU has been turbulent as lockdowns have ended in some places but not many others and economies strive to regain former strength. While the US has opened in many places, but progress is being slowed by a reluctant labor force vying for better pay.

The pair is testing its support level around 1.211, the trend may not have the momentum necessary to break below.


This precious metal has shown a Three Outside Down pattern, indicating a downward trend toward the support level around 27.611.


There is a Bearish Engulfing pattern, indicating a downward reversal approaching the support level around 331.475

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