Market News & Analysis
FX Brief: Canadian CPI eyed
Fawad Razaqzada July 17, 2019 12:54 PM
- NZD strongest, AUD weakest, while the Dollar Index is a touch lower after yesterday’s data-fuelled rally. EUR has found some mild support.
- UK headline and core CPI were both flat in June, keeping the year-over-year rate at 2.0% with core edging up to 1.8% from 1.7%, both as expected. Eurozone CPI was unexpectedly revised higher to 1.3% from 1.2%, with core CPI remaining unchanged at 1.1%. European car registrations fell sharply in June, resuming their downward spiral. Canadian CPI up next.
- Stock indices lower as Trump reignited trade war fears: “We have a long way to go as far as tariffs where China is concerned… We have another $325 billion we can put a tariff on.” Meanwhile stock investors are also digesting bank earnings, which are coming in thick and fast, with Bank of America beating quarterly profit estimates today, boosted by strong retail division and cost control. Watch Netflix tonight – your favourite show(s) or the stock’s reaction to its earnings, whichever rocks your boat.
GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.