Previous Trading Days Events 13.06.2024

PPI, U.S. producer prices, unexpectedly fell in May providing another indication that inflation was subsiding after surging in the first quarter.

The producer price index for final demand dropped 0.2 last month after advancing by an unrevised 0.5 in April.

The U.S. central bank on Wednesday kept its benchmark overnight interest rate in the current 5.255.50 range, where it has been since last July.

Also on Wednesday, Fed officials pushed out the start of rate cuts to perhaps as late as December, with policymakers projecting only a single quarterpercentagepoint reduction for this year. 

Source httpswww.reuters.commarketsususproducerpricesunexpectedlyfallmay20240613

Winners vs Losers

AUDJPY is leading for the week with 1.46 gains so far. AUD pairs AUD as Base have reached the top of the list. The USD reversed fully this week by appreciating while the EUR depreciated causing EUR pairs EUR as base to remain at the bottom. Silver is losing for 2 consecutive weeks now.

News Reports Monitor Previous Trading Day 13.06.2024

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Midnight Night Session Asian

Australias employment change was reported higher than expected at 39.7K versus the expected 30.5K, while the jobless rate fell by 0.10 as expected. These data show how strong the labour market conditions are and indicate that inflation has lower chances of lowering, despite the fact that the central bank raised interest rates in 2023…