It’s FED Obsession Day with the Dollar in Focus

Daily Upate - 14th June 2017

Yesterday’s Market

• GBP Consumer Price Index
• EUR ZEW Survey Reports

Yesterday’s explained

Another day came and went with the EUR/USD pair stuck around 1.1200, unable to react to macro figures released in Europe or the US.

The Sterling recovered nicely this Tuesday, following an advance in UK's inflation ahead of BOE's meeting later this week, although chances that the Central Bank will hike rates on this figures are quite null. UK CPI rose to 2.9% in May surpassing consensus of 2.7%. The producer price index, which measures prices at factory gates remained unchanged at 3.6%, when compared to April, surged by 0.1%, less than expected. The UK will release its latest employment figures this Wednesday with the market expecting a decrease in unemployment claims to 10.0K from previous 19.4K and the unemployment rate seen unchanged at 4.6%.

Today’s Market

• USD Retails Sales, Consumer Price Index, FOMC Economic Projection Report, USD FED Monitory Policy Statement Report, USD FED Interest Rate Decision, USD FOMC Press Conference
• EUR Consumer Price Index
• EUR Industrial Production

Today’s Focus

The macroeconomic calendar will be quite busy this Wednesday, German inflation, UK employment, and US inflation among others, and ahead of Fed's decision.

Speculative interest is waiting for Fed's meeting outcome, to decide whether is worthy to resume EUR's buying or if it's time to take profits out of the table and bet some chips on the greenback.

The UK will release its latest employment figures this Wednesday, with the market expecting a decrease in unemployment claims to 10.0K from previous 19.4K and the unemployment rate seen unchanged at 4.6%.

Investors will most likely direct their attention towards the FOMC statement and economic projections for clarity on future rate hike timings.