Forex news from the European trading session – 15 June 2018 Headlines: Markets: – EUR leads on the day, NZD lags behind – European mostly lower as US equity futures also dragged down
S&P and Nasdaq also moving lower Stocks have extended lower with the Dow now down over 1% (down -1.07%). The S&P is also lower with the index down -18.44 points or -0.66% at 2764. The low reached 2761.73.
Last week at 862 The price of crude oil was trading at $64.88 just prior to the release The oil rig count was up 1 for the week. That is the 11th week where the rig was the same or higher and the 4th straight week of gains. However, the rise was less than the…
Expectations are oil rigs rise to 864 from 862 Note that the Baker Hughes oil rig count will be released at the top of the hour. Last week, oil rigs rose to 862 from 861 in the prior week. This week, the estimate is for a rise 2864 from 862. The oil recount has increased…
Other estimates were increased yesterday Goldman Sachs has raised their GDP tracker to 4.0% from 3.9% last. That joins others who increased their estimates yesterday. The Atlanta Fed sees GDP at 4.8% up from 4.6%.
Prior month 98.0 Good sentiment but below the peak for the year and the expectations dipped but it is not a disaster.
Concerns about trade war hurting The major US indices are trading lower as expected. The concerns about a global trade war are weighing on stocks: In the US debt market yields are lower as well:
No record for the Nasdaq at the end of the week (after record on Thursday). The major stock indices in the US are ending the session lower but well off the lowest levels of the day.
CFTC commitment traders highlights for the week ending June 12, 2018 The largest positions remain in the EUR and the CHF. The positions in each were trimmed slightly.
Capacity utilization 77.9% vs 78.1% estimate The US industrial production from a came in weaker than expected at -0.1% versus +0.2%. The USD has moved a bit lower on the weaker report.