Thursday, June 15, 2017

It was a wild ride for the USD overnight with a downside surprise to the CPI print for May at 1.9%y/y vs. the


GBL: Wild Ride



Global Markets Daily
by Saktiandi Supaat


FX Research





It was a wild ride for the USD overnight with a downside surprise to the CPI print for May at 1.9%y/y vs. the previous 2.2%. Retail sales also came off by -0.3%m/m vs. Apr’s 0.4% growth, also undershooting the consensus of 0.0%. Softer data drove the DXY to fresh multi-month lows at the start of NY session. That did not last long as the Fed went ahead with a 25 bps rate hike overnight anyway. That completely reversed out the EUR gains against the USD by the end of...

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