*Turkey June Consumer Confidence 57.6 Vs. 55.3 In April

Trading 20 juin 2019 Commentaire »

Turkey June Consumer Confidence 57.6 Vs. 55.3 In April


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Estonia Producer Price Inflation Slows In May

Trading 20 juin 2019 Commentaire »

Estonia's producer price inflation slowed in May, data from Statistics Estonia showed on Thursday.

Producer prices advanced 1.1 percent year-on-year in May, which was slower than 1.6 percent increase in April.

Data showed that prices of electricity, gas, steam and air conditioning supply surged 6.9 percent annually in May and mining and quarrying prices grew 5 percent from last year.

Meanwhile, the prices in manufacturing declined 0.1 percent. Month-on-month, producer prices fell 0.4 percent in May, after a 0.7 percent increase in the preceding month.

Further, data showed that import prices rose 0.3 percent on month and by 1.1 percent from a year ago in May. At the same time, export prices dropped 0.4 percent from April, while it increased by 0.5 percent from last year.


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U.S. Dollar Lower As Fed Hints At Rate Cut

Trading 20 juin 2019 Commentaire »

The U.S. dollar fell against its major counterparts in the Asian session on Thursday, after the Fed left its interest rates unchanged and signaled the possibility of rate cuts amid trade tensions and soft inflation.

The Fed asserted that it will "act as appropriate" to sustain the U.S. economic expansion amid increasing uncertainties about the outlook for the economy.

The central bank omitted its reference to remaining "patient" when determining future changes to interest rates.

In his post-meeting press conference, Fed Chairman Powell said, "Many participants believe that some cut to the fed funds rate would be appropriate in the scenario they see as most likely."

CME Group's FedWatch Tool currently indicates an 85.2 percent chance the Fed will cut rates by 25 basis points at its next meeting at the end of July.

The greenback fell to a weekly low of 1.2689 against the pound and a 6-day low of 1.1273 against the euro, off its early highs of 1.2629 and 1.1226, respectively. The next possible support for the greenback is seen around 1.28 against the pound and 1.14 against the euro.

Reversing from its early highs of 108.14 against the yen and 0.9944 against the franc, the greenback declined to a 5-1/2-month low of 107.55 and a 9-day low of 0.9897, respectively. On the downside, 106.00 and 0.96 are possibly seen as the next support levels for the greenback against the yen and the franc, respectively.

The greenback slipped to a 3-1/2-month low of 1.3234 against the loonie and a weekly low of 0.6582 against the kiwi, pulling back from its previous highs of 1.3286 and 0.6534, respectively. If the greenback falls further, 1.30 and 0.68 are likely seen as its next possible support levels against the loonie and the kiwi, respectively.

The greenback edged lower to 0.6907 against the aussie, from a high of 0.6878 set at 5:00 pm ET. The greenback is seen finding support around the 1.30 level.

Looking ahead, U.K. retail sales for May will be out in the European session.

The Bank of England's monetary policy decision is due at 7:00 am ET. The bank is expected to leave rates unchanged at 0.75 percent and asset purchase target at GBP 435 billion.

The U.S. weekly jobless claims for the week ended June 15 and leading index for May will be released in the New York session.

At 10:00 am ET, Eurozone flash consumer sentiment index for June is set for release.


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South Korea Producer Price Inflation At 3-Month Low

Trading 20 juin 2019 Commentaire »

South Korea's producer price inflation slowed to the lowest level in three months in May after rising in the previous month, data from Bank of Korea showed on Thursday.

Producer prices rose 0.4 percent year-on-year in May, which was slower than 0.6 percent increase in April.

The latest inflation rate was the lowest since February, when it was 0.1 percent.

The price index for electric power, gas and water supply grew 2.1 percent annually in May.

Prices for agricultural, forestry and marine products and manufacturing products dropped 2.3 percent and 0.3 percent, respectively. At the same time, cost of services increased 1.2 percent annually. Month-on-month, producer prices remained flat on May, after a 0.3 percent rise each in April and March.

The domestic supply price index rose 1.9 percent in May from a year ago and by 1.0 percent from April.


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Dutch Consumer Confidence Improves In June

Trading 20 juin 2019 Commentaire »

Dutch consumer confidence improved in June, data from the Central Bureau of Statistics showed on Thursday.

The consumer confidence index came in at zero in June from minus 3 in May.

The economic climate index improved to plus 2 in June from minus 2 in May and the indicator for willingness to buy increased slightly to minus 2 from minus 3.

Households were more positive about the economy over the past 12 months, and were less negative for the next 12 months.

Another report from the statistical office showed that household spending growth improved in April driven by higher purchases of home furnishing and household appliances. Meanwhile, they spent less on passenger cars.

Consumer spending rose 1.8 percent annually in April after 1 percent increase in March.

In a separate communiqu?, the statistical office said the unemployment rate held steady at 3.3 percent in May. In the same period last year, the rate was 3.9 percent.


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*Swiss May Trade Surplus CHF 1.65 Bln Vs. CHF 1.91 Bln In April

Trading 20 juin 2019 Commentaire »

Swiss May Trade Surplus CHF 1.65 Bln Vs. CHF 1.91 Bln In April


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*Denmark Jun Consumer Confidence 5.8 Vs. 5.9 In May

Trading 20 juin 2019 Commentaire »

Denmark Jun Consumer Confidence 5.8 Vs. 5.9 In May


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*Swiss May Imports Up 0.7% On Month Vs. 1.5% In April

Trading 20 juin 2019 Commentaire »

Swiss May Imports Up 0.7% On Month Vs. 1.5% In April


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*Swiss May Exports Down 1.2% On Month Vs. 0.3% In April

Trading 20 juin 2019 Commentaire »

Swiss May Exports Down 1.2% On Month Vs. 0.3% In April


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EURUSD: Fed will not rush to change the course of monetary policy, but will do so if necessary

Trading 20 juin 2019 Commentaire »

Yesterday's focus shifted on the Fed's interest rate decision, as well as Jerome Powell's press conference, which took place a little later. Of course, no one expected the Fed to signal an interest rate cut already at this meeting, but traders were counting on signs of a change in policy in the near future.

According to the data, the Fed left the range of interest rates on federal funds unchanged between 2.25% and 2.50%. The Fed Open Market Operations Committee voted 9 against 1. The Fed also left the discount rate at 3.00%.

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Fed officials expect the Federal funds rate to average 2.4% at the end of 2019 and 2.1% at the end of 2020. In 2021, it is expected to return to the level of 2.4%.

The Fed noted that they would act as it is appropriate in order to support economic growth, as well as closely monitor incoming data.

Seven out of 17 Fed officials expect interest rates to be reduced by 0.5 percentage points by the end of 2019.

The main problems that are currently observed in the economy are weak investments of companies in fixed assets, as well as inflation, which remains below 2%. Fed officials also raised the unemployment rate forecast in 2019 to 3.7% from 3.6%.

During Fed Chairman Jerome Powell's press conference, traders also did not hear statements about a change in monetary policy, although many counted on it.

Powell said that the Fed has made some significant changes to the monetary policy statement, since there were opposing factors during the weeks that have passed since the last meeting. The Fed chairman also emphasized that trade uncertainty is beginning to manifest itself in the incoming data, in connection with which some managers see increasingly weighty arguments in favor of a softer policy, and their arguments in favor of additional policy easing become stronger and stronger.

Meanwhile, Powell himself did not see significant support for the pace of interest rate cuts among Fed representatives at this meeting and believes that it would be better to initially get a clearer picture of the situation in the economy, since the basic scenario of the economic outlook is positive.

Responding to the question regarding his possible demotion by US President Donald Trump, Powell made it clear that, according to the law, his term will last for four years and he intends to serve it.

As for the current technical picture of the EURUSD pair, further growth will depend on whether buyers of risky assets will be able to remain above support at 1.1240, as well as consolidating on resistance at 1.1290, which opens up new prospects for bullish movement to highs at 1.1240 and 1.1400.

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