Daily Update - 13th June 2017
The USD was trading broadly lower against its G10 counterpart on Monday morning as investors anticipated a busy week for central bankers. The Federal Reserve is set to release its monetary decision on Wednesday. After lifting rates in March, the FOMC is broadly expected to increase borrowing costs by another 25bps, which would bring the upper Federal Funds limit to 1.25%. While the decision is entirely priced in, investors are already looking towards the next move from the Fed. Moving on for the day, we have Germany’s Wholesale Price Index which seems to take a slight dip from a previous value of 0.3% to 0.2%. However, the ZEW Survey showed better results which might work in favor for Germany. With today’s data release, the pound sterling looked for some gains after the losses in the recent UK elections. The forecasts seem to have a mixed reaction for the day as there might be a fall with the PPI Core Output, Producer Price Index and Consumer Price Index. Euro seems to be in a better position with the ZEW Survey forecasted at 37.2 versus the previous release at 35.1. The release of the Producer Price Index ex Food & Energy took a slight dip but may see some recovery with the Redbook index. The only major news for the greenback comes tomorrow with the Fed’s Interest Rate Decision along with the Fed’s Monetary Policy Statement. Yesterday’s Report
Today’s Report
