Germany trade recorded the first deficit since 1991
EUR/USD 🔼
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
XAU ▶️
WTI 🔼
With inflation casting a shadow over the global economy, higher goods prices have led to a trade deficit of one billion euros in Germany, the first since 1991. The reading surprised investors since they were expecting a trade surplus of 2.7 billion euros in May. Despite the news, the euro managed to close with minor gains against the US dollar at 1.0424, with a high of 1.0461.
Yet another reminder that the Reserve Bank of Australia will announce its key interest rate this afternoon, with a 50 basis point rate hike forecast. Meanwhile, Australia Retail Sales has increased by 0.9%, same as last month. After retreating from 0.6886, the AUD/USD pair closed at 0.6864.
As the US goes on holiday, USD/CAD recovered from a low of 1.2838, then closed with a loss at 1.2859. GBP/USD slightly moved up to 1.2105, with a high of 1.2164. Gold futures had a quiet trading session, currently at $1,812.10 an ounce.
WTI crude futures returned to $110 level, since the strike among Norwegian offshore workers is likely to reduce daily crude oil output by 89,000 barrels, a tightened supply has firmly held oil prices at 110.25 with little change.
More information on Mitrade website.
GBP/USD 🔼
AUD/USD 🔼
USD/CAD 🔽
XAU ▶️
WTI 🔼
With inflation casting a shadow over the global economy, higher goods prices have led to a trade deficit of one billion euros in Germany, the first since 1991. The reading surprised investors since they were expecting a trade surplus of 2.7 billion euros in May. Despite the news, the euro managed to close with minor gains against the US dollar at 1.0424, with a high of 1.0461.
Yet another reminder that the Reserve Bank of Australia will announce its key interest rate this afternoon, with a 50 basis point rate hike forecast. Meanwhile, Australia Retail Sales has increased by 0.9%, same as last month. After retreating from 0.6886, the AUD/USD pair closed at 0.6864.
As the US goes on holiday, USD/CAD recovered from a low of 1.2838, then closed with a loss at 1.2859. GBP/USD slightly moved up to 1.2105, with a high of 1.2164. Gold futures had a quiet trading session, currently at $1,812.10 an ounce.
WTI crude futures returned to $110 level, since the strike among Norwegian offshore workers is likely to reduce daily crude oil output by 89,000 barrels, a tightened supply has firmly held oil prices at 110.25 with little change.
More information on Mitrade website.