Daily Analysis: 12 June 2019

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JPY

Fundamental Analysis

(12 June): Asian stocks tick lower amid signs of fatigue in the recent revival in risk appetite. Treasuries steadied. HK shared led losses as demonstrators threatened to bring the city to a standstill, while equities declined to a lesser extent in the Shanghai and Seoul. President Trump said he’s personally holding up a trade deal with China and that he won’t complete the agreement unless Beijing returns to terms negotiated earlier in the year. The crude oil declined again. The market is seeing another wave of risk aversion coming back and JPY could tick higher benefiting from it.

 

 

(11 June):EUR could still see a rebounding day as the spread between the two-year US and German government bond yields fell to 250 basis points on Friday, the lowest level since December 2017. In a calendar light day, EUR could still be favored by investors due to the decreasing US-DE yield gap. If USD CPI  data fails, the EUR could benefit more.

 

 

(10th June): CAD outperformed last friday amidst rosier employment report. In May, Canada added 27.7k jobs versus 5.0k anticipated. Meanwhile, the unemployment rate ticked lower from 5.7% to 5.4%. Local 2 year government bond yield rallied as BoC rate cut bets cooled. Investors may now look forward to Canadian housing market data and the US JOLTS jobs report for fresh impulse in addition to following trade news. Canada’s May housing starts could weaken to 196.4K vs 235.5K prior while April month building permits may soften to 0.5% growth against 2.1% earlier.

 

 

Technical Analysis

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EUR

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Fundamental Analysis

(12 June): Asian stocks tick lower amid signs of fatigue in the recent revival in risk appetite. Treasuries steadied. HK shared led losses as demonstrators threatened to bring the city to a standstill, while equities declined to a lesser extent in the Shanghai and Seoul. President Trump said he’s personally holding up a trade deal with China and that he won’t complete the agreement unless Beijing returns to terms negotiated earlier in the year. The crude oil declined again. The market is seeing another wave of risk aversion coming back and JPY could tick higher benefiting from it.

 

 

(11 June):EUR could still see a rebounding day as the spread between the two-year US and German government bond yields fell to 250 basis points on Friday, the lowest level since December 2017. In a calendar light day, EUR could still be favored by investors due to the decreasing US-DE yield gap. If USD CPI  data fails, the EUR could benefit more.

 

 

(10th June) CAD outperformed last friday amidst rosier employment report. In May, Canada added 27.7k jobs versus 5.0k anticipated. Meanwhile, the unemployment rate ticked lower from 5.7% to 5.4%. Local 2 year government bond yield rallied as BoC rate cut bets cooled. Investors may now look forward to Canadian housing market data and the US JOLTS jobs report for fresh impulse in addition to following trade news. Canada’s May housing starts could weaken to 196.4K vs 235.5K prior while April month building permits may soften to 0.5% growth against 2.1% earlier.

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