Forex: Daily Wrap-Up June 20

on Jun 20, 2013


The German PPI, released today at 07.00 BST, showed a drop of 0.3 percent in May, against the expected zero percent change and the prior period’s 0.2 percent decrease. Out at 08.00 BST, the French flash Manufacturing PMI for June was up at 48.3 points from the revised 46.6 points in May. The flash Services PMI climbed to 46.5 points for June from the prior 44.3.

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At 08.30 BST emerged the German flash Manufacturing PMI, revealing a decrease to 48.7 points in June from the prior period’s 49.4, revised up from 49.0. And the German flash Services PMI logged an increase to 51.3 points in June, above the expected 50.1 and the prior 49.7.
Eurozone flash Manufacturing PMI and flash Services PMI followed at 09.00 BST, showing a June rise for both, to 48.7 and 48.6 respectively.

At 09.46 BST a 10-year Spanish bond auction was conducted, with an average interest rate of 4.77 percent and a bid-to-cover ratio of 1.8 percent.
AT 15.00 BST Eurozone Consumer Confidence reported in with a rise to -19 points in May from the prior -22.
Across the Atlantic, 13.30 BST saw the release of the US report on unemployment claims, revealing 355,000 new jobless claims last week, worse than the forecasted 343,000 and well up on the prior week’s 336,000. The US flash Manufacturing PMI recorded a drop to 52.2 points from the prior 52.3, revised up from 51.9.

The US report on existing home sales was released at 15.00 BST, showing that 5.18 million residential buildings were sold in May, marginally better than the expected 5.01 million and the prior period’s 4.97 million. The Philly Fed Manufacturing Index expanded significantly in June to 12.5 points from the prior -5.2 points. And the CB Leading Index registered a drop of 0.1 percent in May.

UK retail sales data was announced at 09.30 BST, showing a rise of 2.1 percent in May, as against the expected 0.8 percent increase and the prior period decrease of 1.1 percent.
At 11.00 BST the UK CBI industrial order expectations data showed a reading of -18 points, down on the expected -15 points but besting the prior -20 points.
The Bank of England reported that five of eight monitored banks were short on capital at the end of last year, with an aggregate capital deficiency of £27.1 billion.
Japan’s Leading Economic Index, published today, showed a rise to 99.0 points in April from the previous 97.7. And the Coincident Index for April logged an increase to 95.3 points from the prior 94.6.
At 07.35 BST tomorrow the BoJ’s Governor Haruhiko Kuroda is due to speak at the National Association of Shinkin Banks in Tokyo.
From Australia today came the RBA Quarterly Bulletin, carrying the news that Australia is well placed to boost exports to emerging regions of Asia.
The Reserve Bank of Australia also published today a report on foreign exchange transactions, showing an increase to A$490 million in May, compared to A$382 million in April.
The pair today has lost one percent intraday and is currently changing hands around 0.9181.
There were no economic reports of any significance from Canada today but tomorrow will see release of Core CPI, Core Retail Sales, CPI and Retail Sales.
The pair is currently trading at 1.0355, 0.75 percent up so far today.
The Swiss National Bank today advised that the benchmark interest rate is to stay unchanged at


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