Advertisement
Advertisement

Morning Market Update – Greenback looks for support

By:
Sylvester Stephen
Updated: Jun 15, 2017, 08:02 UTC

In spite of a weakening inflation, the Fed hiked the interest rates by +25bp and set out plans for shrinking the $4.5 trillion balance sheet. New

Greenback

In spite of a weakening inflation, the Fed hiked the interest rates by +25bp and set out plans for shrinking the $4.5 trillion balance sheet. New Zealand’s data releases were disappointing with the New Zealand Gross Domestic Product (QoQ) coming in at 0.5% and going below the expected value of 0.7% in the first quarter. New Zealand Gross Domestic Product (YoY) was registered at 2.5% and went down below the forecasted value of 2.7% in the first quarter.

Yen saw a dip with Japan Foreign stock investment dropping down from a previous value of ¥543.3B to ¥-143.1B. However, Yen gained with Japan Foreign bond investment rising up from a previous value of ¥-350.4B to ¥526.6B.

Australia Employment Change s.a. was registered at 42k in May versus the forecasted value of +10k and a previous value of 37.7k. Australia Unemployment Rate s.a. came in at 5.5% versus the forecasted rate of 5.7%.

Moving on for the day, we have the Swiss SNB Financial Stability Report, Producer and Import Prices. The sterling pound will look forward to improve its current situation but the data release provided negative results with Retail Sales taking a fall in the day.

Late in the day, the SNB Interest Rate Decision will be released and we expect it to remain at 0.75%. We also have the BoE Interest Rate Decision which is expected to remain at 0.25%.

Greenback seems to have been stuck after the Fed’s rate hike and looks for some support bias with the Initial Jobless Claims showing a slight improvement. However, the other major releases are not meeting the expected numbers and can cause worry to the greenback in the day.
For more detailed analysis from the author, please visit NoaFX.

About the Author

Did you find this article useful?

Advertisement