Markets Today: Euro trashed on ECB hike delays
The ECB announced today, as anticipated, that their QE program will finish at the end of the year. But markets weren’t quite expecting the anticipated delay in raising rates – which could be late in 2019. Read More @ https://business.nab.com.au/markets-today-euro-trashed-on-ecb-hike-delays-30157/
US DATA IMPROVES FURTHER -US retail sales post biggest gain in six months
- U.S. retail sales increased more than expected in May as consumers bought motor vehicles and a range of other goods.
- Excluding automobiles, gasoline, building materials and food services, retail sales increased 0.5 percent last month.
- The strong retail sales report added to data ranging from the labor market to manufacturing and trade in suggesting the economy was regaining momentum in the second quarter. Read More @ https://www.cnbc.com/2018/06/14/us-retail-sales-may-2018.html?__source=sharebar|twitter&par=sharebar
WHAT IS THE USD INDEX SAYING?
USD eyeing 95 to 96 – be cautious if you are trying to short the USD; money management is the key. Follow the 10/2 rule and never break those rules. ECB hawkish statement didn’t convince the market without winding down the QE – EURO crashes however is never a better time to buy EURO then before – look for next RSI and start the DCA technique (Dollar Cost Averaging).
TODAYS NEWS THAT MIGHT AFFECT YOUR TECHNICAL TRADES.
- BOJ will address the market and JPY PAIRS will start its move. Be cautious if you are trading the EURO.
- 2.00pm – German news WPI – It’s a leading indicator of consumer inflation – when wholesalers charge more for goods and services the higher costs are usually passed on to the consumer. Expected to be good.
- 5.00pm – EURO inflation focus – could be another round of sell-off or buy back euro. Be cautious.
- 5.00pm – EURO will release their Trade Balance and is expected to be good.
- 8.30pm – Canada will release their Foreign securities and Manufacturing sales and is expected to weaken further. More downside for CAD awaits.
- 8.30pm – US will release their Empire state mfg data and is expected to be weak.
- 10.00pm – Prelim Consumer and Inflation expectation and is expected to be the same or good. USD prepares to go higher.
High Risk Investment Warning:
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