Market Update 16/06/2015

What is the real situation?

It's common to see bad data during these period of the year. The market is concerned about Greece. it´s not an economical problem, it´s a huge political problem. Eurozone officials are discussing holding an emergency summit on Sunday. "If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem" J. Paul Getty. In this case, the IMF, ECB, the Eurozone and all Greek Creditors have the problem. The credibility of the Eurozone plays an important role in this kind of siuations. Allowing this kind of behaviour is not tolerable for the countries that have implemented the policies which Europe imposed. Anyway I don't like talking about politics.
We haven´t seen big movements in the fx markets these days because the traders are waiting the FOMC minutes meeting. Maybe Janet Yellen can give us a clue about the interest rate hike.

Europe dissapointing data

          -German CPI CPI (MoM) (0.1% vs 0.1% expected)
          -German CPI CPI (MoM) (0.7% vs 0.7% expected)
          -European Employment Change (QoQ) (0.1% vs 0.1% expected)
          -European Employment Change (YoY) (0.8%)
          -German ZEW Current Conditions (62.9 vs 63 expected)
          -German ZEW Economic Sentiment (31.5 vs 37.1 expected)
          -European ZEW Economic Sentiment (31.5 vs 37.1 expected)

The EURUSD is down 0.49% (1.1237)

UK Bad Data

          -UK CPI (MoM) (0.2% vs 0.2% expected)
          -UK CPI (YoY) (0.1% vs 0.1% expected)
          -UK Core CPI (YoY) (0.9% vs 1.0% expected)
          -UK  House Price Index (5.5% vs 10.2% expected)
          -UK  PPI Input (MoM) (-0.9% vs 0.4% expected)
          -UK  PPI Input (YoY) (-12.0% vs -11.4% expected)

GBPUSD 15 Min 10:15 16/06/2015

We can see after the dissapointing data the GBP fell down aggresively.

GBPUSD 16/06/2015

As I said in the article called the "Analysis of GBPUSD", this pair is really volatile and difficult to trade. We can see how the USD has weakened after the bad UK data.


US Mixed Data

          -US Building Permits (1.275M vs 1100M expected)
          -US Building Permits (MoM) (11.8% vs -3.5% expected)
          -US Housing Starts (1.036M vs 1165M expected)
          -US Housing Starts (MoM) (-11.1% vs -3.1% expected)        


Greetings

Thank you for visiting FX and Fixed Income Trading. Don´t hesitate to ask if you have doubts or if you are interested in some analysis. Have a good trading, keep on the rules of your trading strategy and be aware of Greece updates and FOMC minutes.