This is what you need to know to trade today Friday June 17:
After Thursday’s strong sell-off, dollar holds firm against rivals early Friday. The yield on the 10-year US Treasury note, which lost almost 3% on Thursday, is now up more than 1% on the day, with the dollar index advancing towards 104.50. Eurostat will publish the Inflation figures from the Harmonized Index of Consumer Prices HICP for the euro zonewhile in the economic calendar of US industrial production data for May to be released. In addition, the chairman of the FOMC, Jerome Powellwill deliver a speech at 12:45 GMT.
In the European morning, US stock index futures are up between 0.7% and 0.9%, which points to an improvement of feeling From the market. On Thursday, the S&P 500 Index hit its lowest level since December 2020, at 3,639, and ended up losing more than 3% on the day.
The Bank of Japan (BoJ) announced on Friday that it is leaving its monetary policy settings unchanged. In its statement, the BoJ has reiterated that it will pay close attention to developments in currency markets and their impact on economic activity in Japan. The inaction of the central bank’s monetary policy triggered a sell off of the yen and the USD/JPY pair erased much of the heavy losses suffered in the previous two days. At time of writing, the pair is trading near 114.00, up more than 1% on the day.
The EUR/USD it gained over 100 pips on Thursday and hit its highest level in nearly a week at 1.0602 before entering a consolidation phase. It is now trading slightly above 1.0500. It is expected that the Annual IPCA of the euro zone stands at 8.1% in Maycoinciding with the preliminary estimate.
Following Thursday’s impressive rally fueled by the Bank of England’s (BoE) monetary policy outlook, the GBP/USD turned down early on Friday and fell below 1.2300.
The Prayed managed to consolidate Wednesday’s gains and broke above $1,850 on Thursday. However, with US Treasury yields rising early on Friday, XAU/USD lost traction and started to pull back towards $1,840.
The USD/CHF fell nearly 300 pips on Thursday, after the Swiss National Bank (SNB) unexpectedly announced that it was raising its official interest rate by 50 basis points, up to -0.25%. The pair was now consolidating its losses around 0.9700.
The Bitcoin fell nearly 10% on Thursday and approached the key $20,000 level. BTC/USD is relatively quiet on Friday and appears to be having a hard time recouping its losses. The ethereum It is down more than 20% so far this week and is trading close to $1,100 in European morning trading.
Source: Fx Street
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