UK in focus

June 19, 2020

A relatively quiet day, data-wise, for a Friday but there is still some important information being released.

The USD strengthened overnight, sending paired currencies down. The EURUSD opened at $1.12432 and was steady early, edging up to a high of $1.12612 mid-session. It fell away shortly after, hitting lows of $1.11847 late in the day. It has come off those lows and is now trading at $1.12005. The GBPUSD endured a torrid session after beginning the day at $1.25552. The pair lifted to highs of $1.25660 early and traded near it’s opening for several hours. Things turned sour mid-session as the pound plummeted to lows of $1.24009 late in the day. It is not far off those lows, currently trading at $1.24091.

The Dow opened at 26,111.96 and fell to lows of 25,751.79 early in the day. It rebounded off those lows and peaked at a high of 26,286.95, achieving that mid-session. It bounced around for the rest of the session, ultimately ending the session flat. It is now trading at 26,038.50. The Dax endured some wild movements yesterday but eventually closed the day slightly lower. The German index started the day at 12,268.49 and fell sharply to lows of 12,147.23 early. It surged off those lows, hitting highs of 12,475.90 mid-session. Those highs weren’t held for long as the Dax gave up most of its gains just as quick, sinking to near-lows of 12,175.72. It closed slightly down and is now trading at 12,251.69.

The UK comes into focus today as it publishes Retail Sales data. After falling off a cliff last month as a contraction of 18.1% was recorded, Retail Sales are expected to grow by 6.3%.

Other data published today includes:

UK – Public Sector Net Borrowing

Canada – Retail & Core Retail Sales

US – Current Account, Fed Chair & FOMC Member Randal Quarles speak

Europe – German PPI, European Current Account, EU Economic Summit


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