Trump-Kim Summits Boosted the Dollar across the Board with promises of Denuclearization and Sanction free North Korea

Daily Update - 13th June 2018

Yesterday’s Market

• USD Trump-Kim Meeting, Consumer Price Index
• GBP Average Earnings
• EUR ZEW Survey

Yesterday’s Focus

Market was completely based on the Trump-Kim Summit held in Singapore and as per market analysts it went more than expected with promises from North Korea officials are stating they are looking forward for a Denuclearization steps in the future and Trump promising to lift sanctions against North Kore after the meeting.

By Mid-Day GBP released its Average Hour Earnings report which showed signs of a Slow and slump Job Sector growth in UK followed by a brief discussion of Theresa May and their respective parliamentarians.

Further Weaker than expected reports from Euro Zone such as ZEW Survey resulted in a Stronger Dollar across the board.

 

Today’s Market

• EUR Industrial Production
• GBP Consumer Price Index
• USD FOMC Economic Projection, FED’s Powell Speech, FED’s Monetary Policy Statement, FED Interest Rate Decision, FOMC Press Conference.

Today’s Focus

Following the Fed's rate decision, the FOMC releases its statement regarding monetary policy. The statement may influence the volatility of USD and determine a short-term positive or negative trend.

The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services.

The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends.