Meeting minutes eyed

June 18, 2019

Plenty of action around today in a rather busy Tuesday for data publication.

The EURUSD was rather flat yesterday, trading in a fairly narrow range throughout the day. The pair began the week at $1.12082 and lifted slightly in early trading before dipping to a low of $1.12026 mid-session. It did not spend long at that level as the euro rebounded and climbed to a high of $1.12463 just a few hours later. It fell away from those lows late in the day and is currently trading at $1.12208. The GBPUSD weakened overnight after starting the week at $1.25880. The pair remained almost flat-lined in early and mid-session trading, bumping up to a high of $1.26050. It gave up those high pretty quick, falling to a low of $1.25312 late in the day. It has come off those lows slightly, currently trading at $1.25374.

The Dow opened and closed rather flat but there were some movements throughout the day. The index began the week at 26,107.71 and climbed to an early high of 26,203.07. It fell away after that, declining through mid-session trading, before a sharp dip saw it bottom-out at 26,048.60. However, it bounced off that low and recovered a large portion of those losses late in the day. It is currently trading at 26,116.64. The Dax weakened slightly to start the week after opening at 12,113.50. The German index bumped up to a high of 12,126.37 in the opening hour before sliding to lows of 12,057.07 midway through the session. It recovered some of those losses before closing at 12,081.03.

The day ahead shapes up to be a rather busy one, as-far-as Tuesday’s go. Local markets will be eyeing the RBA’s Monetary Policy Meeting Minutes, where the RBA board goes into further detail regarding their latest interest rate meeting. This outlines what factors helped them make their decision as well as their outlook for the economy over the short and medium term.

Other data published today includes:

Canada – Manufacturing Sales

Australia – HPI, CB Leading Index

US – Building Permits, Housing Starts

UK – BoE Governor Mark Carney speaks

Europe – European Final CPI & Final Core CPI, European Trade Balance, European & German ZEW Economic Sentiments, ECB President Mario Draghi speaks

 

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