During the Asian trading, the euro remained largely unchanged from the dollar. It was announced this morning that industrial production in Germany in May was much more than expected (+ 2.6% versus the expected 0.3%). At around 8:40 am, the euro is exchanged for $ 1.1740, which at the beginning of the European session shows a weakening of the euro by 0.03%. Today, there are no significant economic announcements and news from the EU, but at around 09:00 it is expected a public address by Governor ECB, Mario Draghi, and another ECB official later in the day. At 14:30, the US producer price index will be released for the month of June.
During the Asian trade, the British pound weakened slightly against the US dollar. After resigning key government ministers from the beginning of the week, it seems that this currency pair has found a new short-term equilibrium level. At 08:40 am, this currency pair is at $ 1.3271 per pound, which means the pound’s weakening by 0.04%. There are no major economic releases and news from the UK today. At 14:30, the US producer price index will be released for the month of June.
During the Asian trade, the Japanese yen weakened slightly against the dollar. At around 8:40 am, this currency pair is traded around the level of 111.03 yen per dollar, which at the beginning of the European session jen makes the weaker against the dollar by 0.03%. The dollar lost some of its profits because the White House announced that the US president intends to impose additional duties on imports of $ 200 billion in Chinese exports to the United States. At 14:30, the US producer price index will be released for the month of June.
The price of gold is in a downward trend due to the recovery of the dollar. At around 8:50 am, the price of gold is about $ 1252 for a fine ounce. At 2:30 pm, the US producer price index will be released for the month of June, which can affect the price of gold to the extent that it affects the short-term US dollar value.
During Asian trading, the price of crude oil is mild in the downward trend. The White House announced that the US president intends to impose additional duties on imports of US $ 200 billion in Chinese exports to the United States, which is not at the expense of world economic growth, and therefore the price of oil. In addition, the US Secretary of State has said that certain Asian countries will be granted an extension of the deadline for suspending oil imports from Iran. At around 8:50 am, crude oil is traded about $ 73.83 a barrel, which has been falling from 0,38% since the beginning of trading today. Today, OPEC’s monthly report is expected. At 4:30 pm, a regular weekly report on the stock of crude oil and derivatives in the United States is expected.