Here’s what you need to know on Tuesday, June 16th.
The U.S. dollar index (DXY) dropped to a new 10-day low, sitting around the 99.70 mark. This came despite President Trump’s comments about the positive trend of falling oil prices and rising stock prices. Yet he also mentioned that “sanctions will not be lifted until Iran does what it needs to do,” which raises some caution in the market.
USD price today
The U.S. dollar showed varying performance against major currencies today. It was particularly strong against the New Zealand dollar.
| USD | EUR | GBP | JPY | CAD | australian dollar | new zealand dollar | swiss franc | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.18% | -0.02% | 0.06% | -0.01% | -0.34% | 0.20% | -0.28% | |
| EUR | 0.18% | 0.15% | 0.28% | 0.19% | -0.17% | 0.38% | -0.12% | |
| GBP | 0.02% | -0.15% | 0.11% | 0.03% | -0.32% | 0.25% | -0.28% | |
| JPY | -0.06% | -0.28% | -0.11% | -0.06% | -0.42% | 0.10% | -0.38% | |
| CAD | 0.00% | -0.19% | -0.03% | 0.06% | -0.34% | 0.18% | -0.31% | |
| australian dollar | 0.34% | 0.17% | 0.32% | 0.42% | 0.34% | 0.56% | 0.08% | |
| new zealand dollar | -0.20% | -0.38% | -0.25% | -0.10% | -0.18% | -0.56% | -0.51% | |
| swiss franc | 0.28% | 0.12% | 0.28% | 0.38% | 0.31% | -0.08% | 0.51% |
The heat map indicates percentage changes between major currencies, with the left column representing the base currency and the top row the quote currency. For instance, selecting USD and JPY, the displayed percentage shows the value of USD against JPY.
EUR/USD climbed towards 1.1580 on Monday, yet pulled back from the 1.1620 resistance level. Traders are still evaluating the European Central Bank’s (ECB) potential policy adjustments, particularly if energy prices remain low.
GBP/USD is around 1.3410, but there’s limited upside for the pound as investors stay cautious ahead of forthcoming UK economic reports and insights from the Bank of England.
USD/JPY is seeing an increase around the 160.40 mark, as the Japanese yen is not getting much support ahead of the Bank of Japan’s (BOJ) interest rate decision, which is due Tuesday.
Ahead of the Reserve Bank of Australia (RBA) interest rate meeting, the AUD/USD pair increased to 0.7070 on Monday.
West Texas Intermediate (WTI) crude oil saw a drop of about 4%, settling at $81.50 after President Trump announced the reopening of the Strait of Hormuz.
Gold, on the other hand, rose by over 2% to $4,320, as central banks are thought to be returning to precious metals amid easing geopolitical tensions.
What’s next on the docket:
Tuesday, June 16th:
- China industrial production (May)
- China retail sales (May)
- Bank of Japan interest rate decision
- Australian RBA interest rate decisions
- German Consumer Price Index (May)
- Germany ZEW Survey (June)
- Four-week average of US ADP employment changes
- Japan’s trade balance (May)
Wednesday, June 17th:
- UK CPI (May)
- UK PPI (May)
- UK Retail Price Index (May)
- Eurozone HICP (May)
- US Fed interest rate decisions
- New Zealand GDP (1st quarter)
Thursday, June 18th:
- Swiss SNB Financial Stability Report
- UK employment data (April/May)
- Swiss SNB interest rate determination
- Germany Buba monthly report
- Bank of England interest rate decisions
- Number of new unemployment insurance claims in the US
- Philadelphia Federal Reserve Manufacturing Industry Survey (June)
- New Zealand Westpac Consumer Survey (2nd quarter)
- New Zealand trade balance (May)
- UK GfK Consumer Confidence (June)
- National CPI (May)
- Minutes of the Bank of Japan Monetary Policy Meeting
Friday, June 19th:
- German PPI (May)
- UK retail sales (May)
- Canadian retail sales (April)
