Market themes of the Day: All stable on currency front on Friday the 13th

What you need to know before markets open
In Europe

  • German inflation increased 2.1% y/y in June with core inflation rising 1.4% y/y. Inflation was driven by energy prices with butter and fruits marking double-digit price gain. For details read my analysis here.
  • The Eurozone industrial production increased 2.4% y/y in May, accelerating 1.3% over the month.
  • The European Commission’s Summer economic forecast sees GDP slowing down to 2.1% in 2018 and 2019, blaming US trade wars. 
  • The ECB June meeting minutes "widely" cautioned that slowdown was likely to extend into the second quarter in a number of countries, implying near-term risk to economic growth. 
  • Only minor data are due on Friday the 13th in Europe

In the UK

  • The UK lenders reported the unchanged availability of secured credit to households was in the three months to mid-June 2018 and expected no change over the next three months to mid-September 2018.
  • the long-awaited Brexit white paper saw the UK Prime Minister Theresa May dropped the claim of the EU single market access for the UK-based banks while claiming “a principled and practical Brexit”.
  • The Bank of England Deputy Governor Jon Cunliffe is scheduled to speak at the Cumbria Chamber of Commerce at 11:00 GMT.

In the US

  • The US CPI rose 2.9% over the year in June with core inflation up 2.3% y/y in line with market expectations.
  • The Federal Reserve chairman Jerome Powell said Trump ’s stimulus to boost the economy for "at least" three years.
  • The US Treasury secretary Mnuchin said the US would re-open trade talks if China makes major changes.
  • Michigan consumer sentiment in July and the Federal Reserve’s monetary policy report are the most important economic releases on Friday. 

In China

  • China’s trade balance reached a surplus of  $41.61 billion in June with exports rising 11.3% y/y and import up 14.1% y/y.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.