June 14 2021 Daily Forex Analysis - Finveo
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June 14 2021 Daily Forex Analysis
Daily News
• The leaders of the world’s richest countries have pledged more than 1 billion coronavirus vaccine doses to poorer nations, endorsed a global minimum tax on
multinational corporations and agreed they will work together to challenge China’s “non-market economic practices” and to call on Beijing to respect human rights
in Xinjiang and Hong Kong.
• Investors will be zeroing in on the Federal Reserve’s monetary policy meeting next week as a “Goldilocks” market environment that has helped lift stocks to record
highs and tamed a bond selloff is tested by rising inflation.
• Global shares held near record highs on Monday while U.S. bond yields flirted with three-month lows as investors expect the Federal Reserve to stick to its dovish
mantra later this week. Globally, markets were basking in the prospect of a broadening economic recovery from the coronavirus pandemic and anticipation of
continuity in dovish monetary policy from the U.S. Federal Reserve. Oil stood at multi-year highs. [O/R]The MSCI world equity index, the U.S. S&P 500 and the pan-
regional STOXX Europe 600 index all closed at record highs on Friday. EuroSTOXX 50 futures rose 0.2% on Monday. S&P 500 futures nudged up 0.1%
• NATO leaders are expected on Monday to brand China as a security risk to the Western alliance for the first time, a day after the Group of Seven issued a statement
on human rights and Taiwan that Beijing said slandered its reputation.
• The dollar was largely unchanged in early European trade Monday, with traders showing caution ahead of the latest two-day meeting of the Federal Reserve. At
2:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, was marginally lower at 90.483, after posting a gain of
just over 0.5% last week.
• EUR/USD managed to get below the 50 EMA at 1.2120 and is trying to settle below 1.2100 while the U.S. dollar is flat against a broad
EUR/USD basket of currencies. The U.S. Dollar Index has recently made an attempt to settle above the 50 EMA at 90.60 but failed to develop
sufficient upside momentum and pulled back towards 90.50. If the U.S. Dollar Index declines below 90.50, it will move towards the
support at 90.30 which will be bullish for EUR/USD.
• Resistance: 1,2132 – 1,2160 - 1,2194
• Support: 1,2078 – 1,2062 - 1,2044
• GBP/USD has been hovering around 1.41 after the dollar staged a comeback.
GBP/USD • UK PM Johnson is set to announce a four-week delay to Britain's last stage of its reopening.
• Resistance: 1,4120 - 1,4145 – 1,4190
• Support: 1,4095 – 1,4073- 1,4005
• Gold prices fell to a more than one-week low on Monday, weighed down by strength in the dollar, as focus shifted to the
XAU/USD Federal Reserve's policy review due this week. Data showed US consumer prices rose solidly in May, leading to the biggest
annual increase in nearly 13 years. Investors awaited the US central bank's June 15-16 policy meeting for further clarity on
the policymakers' view on rising inflation and recovery in the world's largest economy.
• Resistance: 1875$ - 1884$ - 1896$
• Support: 1856$ - 1844$ - 1831$
• Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel
BRENTOIL demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply. Goldman Sachs said last week
it expects Brent to rise to $80 per barrel this summer as the rollout of inoculations boosts economic activity around the world.
The Organization of the Petroleum Exporting Countries (OPEC) and allies, known as OPEC+, need to increase output to meet
recovering demand, the International Energy Agency (IEA) said in its monthly report on Friday.
• Resistance: 73,34$ - 74,06$ - 74,92$
• Support: 72,49$ - 71,81$ - 71,08$
• U.S. stocks ended last week with a record closing high for the S&P 500 and the beginning of a rotation back into growth
S&P500 names. The S&P 500 is up almost 15% year-to-date and closed up 0.19% to 4,247.44, having reached 4,249.74 intraday. All
eyes this week will be on some direction from the US Federal Reserve's Federal Open Market Committee meeting.
• Resistance: 4,253 – 4,263 – 4,283
• Support: 4,235 – 4,224 – 4,214Daily Stock News • Alibaba Group Holdings Ltd. ADR (NYSE: BABA) Chinese e-commerce leader Alibaba Group Holding Ltd plans to develop self-driving trucks with logistics subsidiary Cainiao, Chief Technology Officer Cheng Li said on Thursday. The program will be led by Alibaba’s research institute and its logistics unit, Cainiao Network Technology Co., Chen Li, Alibaba’s CTO said Thursday at a conference on smart logistics held in the east China city of Hangzhou. (Positive) • AstraZeneca PLC ADR (NASDAQ: AZN) The European Medicines Agency (EMA), which supervises and approves drugs and vaccines in Europe, made a statement the other day and announced the new side effect of the AstraZeneca vaccine. In the statement, it was emphasized that those with a very rare "escape syndrome" should not vaccinate with AstraZeneca. The Oxford/AstraZeneca vaccine is thought to be associated with some bleeding problems, according to new research. With the effect of this news, Poland also decided to stop the use of the AstraZeneca vaccine, which has been stopped by some countries because it causes blood clotting. (Negative) • Tesla Inc. (NASDAQ: TSLA) Tesla CEO Elon Musk said on Sunday that the company will resume bitcoin operations after miners confirm reasonable use of clean energy. (Positive)
Currency Last Daily Change (%) Weekly Change (%) YTD Change (%)
EURUSD 1,21 -0,07 -0,07 -0,95
GBPUSD 1,4109 0,01 0,01 3,21
USDJPY 109,69 -0,03 -0,03 -5,87
USDCHF 0,8992 -0,10 -0,10 -1,56
EURGBP 0,85762 0,09 0,09 4,22
INDEX FUTURE Last Daily Change (%) Weekly Change (%) YTD Change (%)
SPA INDEX 4236,6 0,19 0,00 13,59
GXA INDEX 15707 0,09 0,09 14,22
DMA INDEX 34368 0,03 0,03 13,30
Commodities Last Daily Change (%) Weekly Change (%) YTD Change (%)
GC1 Comdty 1864,2 -0,70 -0,70 -1,63
XAUUSD Curncy 1859,92 -0,94 -0,94 -2,02
CLA Comdty 71,22 0,44 0,44 46,78
CO1 Comdty 73,03 0,47 0,47 40,98
Time Cur. Event
11:00 EUR Industrial Production**
All-Day EUR NATO Summit
15:00 GBP BoE Gov Bailey SpeaksYou can also read
