This is what you need to know to operate Monday, June 23:
The markets become aES -Risk at the beginning of the week, since geopolitical tensions in the Middle East intensify after the bombing of several Iranian nuclear sites by the United States during the weekend. The preliminary data of the June Purchase Managers Index (PMI) of the Eurozone, the United Kingdom and the US will be highlighted in the economic calendar on Monday. Those responsible for policies of the European Central Bank (ECB) and the Federal Reserve (FED) will also offer speeches throughout the day.
American dollar today
The lower table shows the percentage of US dollar change (USD) compared to the main coins today. American dollar was the strongest currency against the Japanese yen.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.36% | -0.28% | 0.37% | 0.02% | 0.12% | 0.31% | -0.06% | |
| EUR | 0.36% | 0.05% | 0.76% | 0.38% | 0.43% | 0.68% | 0.26% | |
| GBP | 0.28% | -0.05% | 0.75% | 0.33% | 0.39% | 0.63% | 0.22% | |
| JPY | -0.37% | -0.76% | -0.75% | -0.36% | -0.27% | 0.00% | -0.49% | |
| CAD | -0.02% | -0.38% | -0.33% | 0.36% | 0.15% | 0.30% | -0.11% | |
| Aud | -0.12% | -0.43% | -0.39% | 0.27% | -0.15% | 0.22% | -0.17% | |
| NZD | -0.31% | -0.68% | -0.63% | -0.01% | -0.30% | -0.22% | -0.41% | |
| CHF | 0.06% | -0.26% | -0.22% | 0.49% | 0.11% | 0.17% | 0.41% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the US dollar of the left column and move along the horizontal line to the Japanese yen, the percentage change shown in the box will represent the USD (base)/JPY (quotation).
Oil prices They rose in the weekly opening after Iran’s Parliament approved a measure to close the Ormuz Strait, a key maritime step through which about 20% of the global demand for oil and gas flows, in response to US attacks. The final decision will be taken by the Supreme National Security Council. Although Iran’s attempts to block the Ormuz Strait have been ephemeral in the past, with the US Navy, acting quickly, oil prices rose abruptly early Monday. After exceeding $ 77 per barrel in the Asian session, West Texas intermediate oil prices (WTI) corrected down and were last quoting around $ 74.50.
He US Dollar Index (USD) The week began with a bullish hole before slightly retreat. At the time of publication, the USD index was quoted in positive territory around 99.00. On Tuesday, the president of the FED, Jerome Powell, will offer his semiannual testimony about monetary policy before Congress. Meanwhile, the futures of the US stock market rates operate planes in the European morning.
The gold He advanced around $ 3,400 early Monday after losing almost 2% in the previous week. The Xau/USD slightly goes back to start the European session and remains slightly above $ 3,350.
Australia’s data showed earlier on the day that the PMI composed of Global S&P improved 51.2 in the preliminary estimate of June from 50.5 in May. This reading showed that business activity in the private sector expanded at an accelerated pace. The aud/usd It remains defensive despite the encouraging data and quotes in negative territory below 0.6450.
EUR/USD It remains stable around 1,1500 in the early European session on Monday. The HCob compound PMI in Germany rose to 50.4 in June (preliminary) from 48.5 in May. Later in the day, the president of the ECB, Christine Lagarde, will make an introductory statement at an hearing before the Committee on Economic and Monetary Affairs of the European Parliament in Brussels, Belgium.
The GBP/USD It fell almost 1% in the previous week and retreated in the Asian session on Monday. The pair bounces from the daily minimums and quotes about 1,3450.
The USD/JPY Win traction on Monday and quotes at its highest level since mid -May above 147.00.
WTI FAQS oil
WTI oil is a type of crude oil that is sold in international markets. WTI are the acronym of West Texas Intermediate, one of the three main types that include the Brent and Dubai’s crude. The WTI is also known as “light” and “sweet” by its relatively low gravity and sulfur content, respectively. It is considered high quality oil that is easily refined. It is obtained in the United States and is distributed through the Cushing Center, considered “the crossing of the world.” It is a reference for the oil market and the price of WTI is frequently traded in the media.
Like all assets, supply and demand are the main factors that determine the price of WTI oil. As such, global growth can be a driver of the increase in demand and vice versa in the case of weak global growth. Political instability, wars and sanctions can alter the offer and have an impact on prices. OPEC decisions, a group of large oil -producing countries, is another key price factor. The value of the US dollar influences the price of WTI crude oil, since oil is mainly traded in US dollars, so a weaker dollar can make oil more affordable and vice versa.
Weekly reports on oil inventories published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) influence the price of WTI oil. Changes in inventories reflect the fluctuation of supply and demand. If the data show a decrease in inventories, it can indicate an increase in demand, which would raise the price of oil. An increase in inventories may reflect an increase in supply, which makes prices lower. The API report is published every Tuesday and that of the EIA the next day. Their results are usually similar, with a 1% difference between them 75% of the time. EIA data is considered more reliable, since it is a government agency.
The OPEC (Organization of Petroleum Exporting Countries) is a group of 13 nations oil producing that collectively decide the production quotas of member countries in biannual meetings. Their decisions usually influence WTI oil prices. When OPEC decides to reduce fees, it can restrict the supply and raise oil prices. When OPEC increases production, the opposite effect occurs. The OPEC+ is an expanded group that includes another ten non -members of the OPEC, among which Russia stands out.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
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