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Slight delay in the release by the source. The order book balance did rose to a six-month high to from -17 in May to -15 in June but export order balance declined once again to -29, its weakest since February 2021. CBI notes that UK manufacturing activity is likely to...

GBP/USD hourly chartThe initial reaction to the hot inflation data earlier was a higher pound, with GBP/USD rising to a high of 1.2802 but the move was a brief one as noted here. As mentioned then and earlier in the session, the data isn't going to change much for the...

That is a revision lower to their previous forecast that the German economy will contract by 0.1% in 2023. As for 2024, they also see softer growth with a forecast of 1.5% as compared to 1.7% previously. On the inflation front, Ifo notes that German inflation is...

Eurostoxx -0.2%Germany DAX -0.2%France CAC 40 -0.3%UK FTSE -0.5%Spain IBEX -0.2%This continues from the drop yesterday with US futures also now tilting lower. S&P 500 futures are down 0.2% as equities are struggling for traction so far this week. For today, it...

Here is a comparison of the before and after:A 50 bps rate hike for tomorrow is now seen at roughly 55%, outpacing that of a 25 bps rate hike based on OIS pricing. There's nearly 75 bps worth of rate hikes priced by August and that says that we're now staring at the...

GBP/USD 1-minute chartCable jumped up to a high of 1.2802 but quickly fell back to pare all of the quick gains in a fall to 1.2765 currently. As mentioned earlier:"Based on OIS pricing, a 25 bps rate hike is 100% priced in for this week and I don't see that changing...

Headline annual inflation was unchanged in May at 8.7%, beating estimates, but core annual inflation is seen jumping again to above 7% and here's how that looks:UK core CPI y/y (%)Food prices continue to stay elevated with the annual reading seen up by 18.4%, just...

Prior +8.7%Core CPI +7.1% vs +6.8% y/y expectedPrior +6.8%There is a slight delay to the data release but the pound is moving higher right off this initial headline. On the month, headline inflation increased by 0.7% and that is higher than the 0.5% estimated as well....

The dollar is holding its ground after last week's fall and equities are struggling slightly as there might be a bit of a risk rotation in play ahead of month-end and quarter-end. That is certainly keeping markets guarded and will make things a bit tricky to navigate...

Gold (XAU/USD) daily chartWith there looking to be a risk rotation in play (perhaps ahead of month-end/quarter-end), gold is failing to find much comfort despite lower bond yields. The yellow metal dropped by 0.7% yesterday but more importantly, it took out a key...

Session wrap Forex news for Asian trading on Wednesday, 21 June 2023 <!--> Eamonn Sheridan Wednesday, 21/06/2023 | 02:55 GMT-0 21/06/2023 | 02:55 GMT-0 --> Offshore yuan slid a little further again during the session, with USD/CNH rising briefly just over...

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