- June 15, 2021
- Posted by: Stratford Team
- Category: Economy
Dollar jumps in early US session after strong, record making, PPI inflation data. The worse than expected retail sales and manufacturing data were shrugged off. Yen and Euro are following as next strongest for now. Sterling continues to be weighed down by delay in reopening and it’s trading and worst ones a long with commodity currencies. Though, Canadian Dollar is so far the weakest despite resilience in oil price.
Technically, GBP/USD’s break of 1.4072 support is either a sign of Dollar strength, or Sterling weakness or both. As for the Dollar, break of 1.2201 key near term resistance in USD/CAD would give us more confidence on more sustainable rally in the greenback. As for the Pound, focus will be on 0.8670 minor resistance in EUR/GBP.
In Europe, at the time of writing, FTSE is up 0.47%. DAX is up 0.55%. CAC is up 0.56%. Germany 10-year yield is up 0.0107 at -0.237. Earlier in Asia, Nikkei rose 0.96%. Hong Kong HSI dropped -0.71%. China…