Trumponomics Stirs Dollar Once Again While Investors will be glued to Jerome Powell’s Speech Later Today

Daily Update - 25th June 2019

Yesterday’s Market

• Germany IFO Business Climate & IFO Assessment

Yesterday’s Explained

Economic data out of the Eurozone was on the heavier side on Monday. Germany’s Business Climate Index and sub-indexes provided direction in the early part of the European session.

According to the June IFO Report,

• The IFO Business Climate Index fell from 97.9 to 97.4 in June, which was the lowest level since November 2014.
• In manufacturing, the business climate index fell further, attributed to falling new orders. The sub-index fell from 3.9 to 1.5. In June 2018, the sub-index stood at 24.2.
• The services sector also became less optimistic, with the service sector business climate sub-index falling from 21.0 to 20.0
• Sentiment towards current conditions improved marginally in June. The IFO Current Conditions Index rose from 100.6 to 100.8.
• By contrast, the IFO Expectations Index slid from 95.2 to 94.2.

While Germany’s Business Climate Index was in line with forecast, particularly weak sentiment added to the negative sentiment on the day.

 

Today’s Market

• BOJ Monetary Policy Meeting Minutes
• Fed Chairperson Jerome Powell’s Speech

Today’s Focus

First report will reach by dawn from Bank of Japan a study of economic movements in Japan after the actual meeting. These meetings are held to review economic developments inside and outside of Japan and indicate a sign of new fiscal policy. Any changes in this report tend to affect the JPY volatility. From US, speech from Federal Reserve Chairperson Jerome Powell which will give us an insight on their current economic policies and their future rate cut decisions which are to be made.