INGOT Brokers AU | Fundamental Report (2017-06-23)

Fundamental Report (2017-06-23)

Overview

The dollar ended Thursday’s trading session flat after recording a strong uptrend this week as several Fed officials have given some support of possible rate hike during this year despite the recent weak inflation numbers. The greenback index ended flat at 97.571 after reaching a one month peak of 97.871 on Tuesday. As for the release front, the US unemployment claims rose to 241 thousand matching the market expectations.

The U.S indices closed Thursday’s session in mixed territories with the Dow Jones Industrial Average gave up early gains to end down 12.74 points, or 0.06 percent, at 21,397.29. The S&P 500 declined 1.11 points, or 0.05 percent, to 2,434.5 and the Nasdaq Composite gained 2.73 points, or 0.04 percent, to 6,236.69.

Furthermore, sterling showed some movements in today’s trading session after the offer made by the U.K Prime minister Theresa May to the EU leaders about a fair deal for compatriots living in Britain after Brexit. GBP/USD is currently trading at $1.2700 levels.

Moreover, the Japanese Yen is still lacking movements this week even after the statement made by Bank of Japan Deputy Governor Kikuo Iwata on Thursday       who dismissed the need to raise interest rates any time soon, stressing that the economy still requires support from "powerful" monetary easing, with inflation far from the central bank's 2 percent target.

The euro is still in the neutral zone ending Thursday’s trading session flat                         at $1. 1150, however the markets recorded some gains in the Norwegian crown and the New Zealand dollar after their countries' central banks showed confidence in their economic outlook.

Finally, next week will be a busy week in the US as the June consumer confidence indicator, pending home sales, crude oil inventories, revised first quarter GDP and the PCE price index will be published.

           

 

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