Here is what you need to know on Monday, June 17:
The US Dollar (USD) stays resilient against its major rivals at the beginning of the week, with the US Dollar Index clinging to modest gains above 105.50 after closing the previous week in positive territory. In the absence of high-tier macroeconomic data releases, investors will pay close attention to comments from central bankers.
After struggling to find demand on soft US inflation data in the middle of the previous week, the USD benefited from the Federal Reserve's hawkish tone and the risk-averse market atmosphere. Early Monday, US stock index futures trade virtually unchanged on the day and the benchmark 10-year US Treasury bond yield holds steady above 4.2%.
US Dollar PRICE Last 7 days
The table below shows the percentage change of US Dollar (USD) against listed major currencies last 7 days. US Dollar was the strongest against the Euro.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.97% | 0.40% | 0.35% | -0.13% | -0.23% | -0.11% | -0.75% | |
| EUR | -0.97% | -0.22% | -0.37% | -0.84% | -0.92% | -0.82% | -1.45% | |
| GBP | -0.40% | 0.22% | -0.02% | -0.61% | -0.70% | -0.60% | -1.24% | |
| JPY | -0.35% | 0.37% | 0.02% | -0.46% | -0.63% | -0.54% | -1.02% | |
| CAD | 0.13% | 0.84% | 0.61% | 0.46% | -0.06% | 0.02% | -0.63% | |
| AUD | 0.23% | 0.92% | 0.70% | 0.63% | 0.06% | 0.10% | -0.54% | |
| NZD | 0.11% | 0.82% | 0.60% | 0.54% | -0.02% | -0.10% | -0.65% | |
| CHF | 0.75% | 1.45% | 1.24% | 1.02% | 0.63% | 0.54% | 0.65% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).
During the Asian trading hours, the data from China showed that Retail Sales expanded 3.7% on a yearly basis in May. This reading followed the 2.3% increase recorded in April and came in better than the market expectation for an increase of 3%. On a negative note, Industrial Production grew 5.6% in the same period, falling short of analysts' estimate for an increase of 6%. The Shanghai Composite Index is down more than 0.5% after the mixed Chinese data, while Hong Kong's Hang Seng Index stays flat on the day.
ANZ Job Advertisements in Australia declined 2.1% on a monthly basis in May. After closing the last two trading days of the previous week in negative territory, AUD/USD continues to edge lower in the early European session on Monday and was last seen trading near 0.6600. The Reserve Bank of Australia (RBA) will announce monetary policy decisions in the early Asian session on Tuesday.
Australian Dollar remains on the defensive near 0.6600 as Fed pencils one rate cut this year.
EUR/USD lost nearly 1% in the previous week, pressured by the broad-based USD strength. The pair struggles to stage a rebound in the early European session and trades at around 1.0700.
GBP/USD stays under modest bearish pressure and trades below 1.2700 after closing the second straight week in the red. The UK's Office for National Statistics will release inflation data on Wednesday before the Bank of England announces monetary policy decisions on Thursday.
USD/JPY reached its highest level since late April above 158.00 on Friday as the Japanese Yen struggled to find demand following the Bank of Japan's decisions to hold policy settings unchanged. After staging a downward correction heading into the weekend, the pair seems to have stabilized at around 157.50 to begin the new week.
Gold gathered bullish momentum and gained more than 1% on a daily basis on Friday, ending the week in positive territory and snapping a three-week losing streak. XAU/USD, however, lost its traction in the Asian trading hours and retreated below $2,320 on Monday, where it was down more than 0.5% on the day.
