FX Today: Aussie slips on weak Aus jobs, risk-off lifts Yen; SNB – Up next


The protests in Hong Kong over the extradition bill combined with rife US-China trade woes continued to hit the risk-sentiment in Asia for the second straight day. The renewed risk-aversion wave powered the Yen bulls, sending the USD/JPY pair to 108.15 region before recovering to 108.35 towards Asia close.

Meanwhile, the AUD/USD pair dropped to test the 0.6900 support after the Australian jobless rate ticked higher in May and bolstered July RBA rate cut hopes. Both the Kiwi and USD/CAD remained on the defensive amid a minor recovery in oil prices. Gold prices on Comex edged higher towards 1340 levels on falling Treasury yields, in the wake of the US CPI disappointment.

Among the European currency pairs, EUR/USD and Cable traded better bid amid a broadly subdued US dollar while the Swiss franc benefited slightly from the risk-off action in the Asian equities ahead of the Swiss National Bank (SNB) June monetary policy decision.

Main Topics in Asia

US Treasury Secretary Mnuchin: Would like debt ceiling to be part of budget deal

Huawei protests FCC actions to block it in the US on national security grounds – CNBC

The US seriously distorts market economy – China’s Global Times

Economists expect PBoC to cut to interest rates - China Daily

Banxico Deputy Gov Heath: Banxico cannot start easing cycle with so much risk

Australian labour market data (May): 42.3K headline Employment / 5.2% Unemployment vs 5.1%

China Vice-Premier Liu urges acceleration of reform of market access, IPR protection

China SAFE: China will steadily push forward with opening up of capital account

US Pres. Trump: “Biden would be China’s Dream Candidate, no more Tariffs, no more demands that China stop stealing our IP”

Indonesian FinMin Indrawati: Bank Indonesia may ease monetary policy, IDR trades weaker

Japan, Chinese leaders to meet June 27 before G20 – FNN

Key Focus Ahead

We have a busy EUR calendar for today, as markets align for the key Swiss events, including the Alpine nation’s Producer Price Index (PPI) data release (due at 0630 GMT) and the Swiss National Bank (SNB) June quarter Monetary Policy Assessment, dropping in at 0730 GMT. The SNB Press Conference by Chairman Thomas Jordan will be eyed at 0800 GMT for fresh hints on the interest rates outlook. From the Euroland, the industrial production data will be reported at 0900 GMT and will likely accentuate the Eurozone economic slowdown fears.

The NA session sees the US weekly jobless claims, the Import Price Index and Export Price Index releasing at 1230 GMT alongside the Canadian New Housing Price index data. Amid a data-light NA calendar, the US-China trade war-related updates and the first round of the UK Conservatives voting for the position of the UK Prime Minister will remain in the spotlight.

EUR/USD charts bearish outside day ahead of Eurozone industrial production

With a bearish candlestick pattern on the daily chart, the EUR/USD is on the defensive ahead of Eurozone's industrial production release. The pair will likely find acceptance below 1.1283 if the Eurozone data disappoints.

GBP/USD remains on the back foot, all eyes on Conservative voting

While the failure of Labour-led motion to block the chances of no-deal Brexit weakened the Pound, the GBP/USD pair remains on a back foot, as traders await the first round of voting to decide the new Tory leader later this Thursday.

USD/CHF: Buyers concentrate on 200-day SMA while waiting for SNB

USD/CHF’s recent recovery still falls beneath 200-day SMA as it takes the rounds near 0.9950, awaiting monetary policy decision and assessment from the Swiss National Bank (SNB) for fresh clues.

Brent technical analysis: Bearish lower highs favor a drop to fresh five-month low

With the sharp pullback from Tuesday’s high of $64.08, the black gold has established yet another bearish lower high. Notably, that is the third bearish lower high of the last six weeks and so the path of least resistance is to the downside. 

GMT
Event
Vol.
Actual
Consensus
Previous
Friday, Jun 07
24h
 
 
Monday, Jun 10
24h
 
 
24h
 
 
24h
 
 
Thursday, Jun 13
24h
 
 
04:30
 
0.4%
-0.4%
06:00
 
1.4%
1.4%
06:00
 
0.3%
0.3%
06:00
 
0.2%
0.2%
06:00
 
1.3%
1.3%
06:30
 
-0.6%
-0.6%
06:30
 
0%
0%
n/a
 
 
6.4%
07:30
 
-0.75%
-0.75%
07:30
 
 
07:30
 
 
08:00
 
 
09:00
 
-0.5%
-0.6%
09:00
 
-0.5%
-0.3%
12:30
 
217K
218K
12:30
 
1.680M
1.682M
12:30
 
0.4%
-0.2%
12:30
 
-0.1%
0.2%
12:30
 
-0.2%
0.2%
12:30
 
-0.5%
0.3%
12:30
 
 
0.1%
12:30
 
0%
0%
14:30
 
95B
119B
15:30
 
 
2.29%
n/a
 
 
2.892%

 

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 assets. 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 Open Markets 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.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD struggling to hold onto 1.10 as USD gains ground

EUR/USD is trading close to 1.10, as the US dollar gradually advances. Two White House advisers expressed contradicting accounts of US-Sino trade talks, causing confusion. Germany refrained from adding fiscal stimulus.

EUR/USD News

GBP/USD trades around 1.25 as EU pours cold water on Brexit hopes

GBP/USD is trading around 1.25, off the two-month highs of 1.2582 as EU officials cast doubts about the seriousness of the new UK proposals on Brexit. 

GBP/USD News

USD/JPY drops to one-week lows on trade war headlines

The USD/JPY fell during the American session following reports that the Montana Farm Bureau said China's delegation has canceled a planned trip to view US agriculture.

USD/JPY News

Gold climbs further beyond $1500 mark, lacks follow-through

Gold edged higher for the second consecutive session on Friday, albeit remained well within a familiar trading range held over the past two weeks or so.

Gold News

Top 3 price prediction Bitcoin, Ripple, Ethereum: Ethereum points to the Moon as Bitcoin takes a break

ETH/USD exceeds $220 and is bidding to lead the market. Bitcoin sets a bear trap and recaptures $10,000. XRP stalls between technical levels and fails to consolidate $0.30.

Read more

Forex MAJORS

Cryptocurrencies

Signatures