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FXstreet.com (Barcelona) – Canadian leading index has remained unchanged in June following a 0.2% increase in May, with new orders and the housing index dragging this composite index down, according to the latest release by Statistics Canada.

Consumer spending on durable goods and average hourly earnings have posted positive contributions to the index which were offset by the downturn of the housing index.

The new orders index has declined after a positive performance on the previous month, following with the up and down pattern of the latest months, strongly influenced by the growing influence of the aerospace industry, whose fluctuating orders end up translating into the whole new orders index. On the other hand, inventories have levelled, and higher output this month suggests that firms are satisfied with the ratio of stocks to shipments.
FXstreet.com (Barcelona) For more information, read our latest forex news. FXstreet.com (Barcelona) For more information, read our latest forex news. FXstreet.com (Barcelona) – Trade balance between the Euro Area and the rest of the world has fallen back into deficit in May, and a well larger than expected one, according to the first estimate released by Eurostat, the European statistics office.

In May, trade by the 15 countries sharing the common currency, has posted a EUR 4.6 billion euro deficit, from a EUR 2.5 billion surplus posted in April, upwardly revised from the EUR 2.3 billion surplus previously estimated.

Both imports and exports have declined in May, exports posted a 3.4% decline, and imports decreased by 1.3%.
FXstreet.com (Barcelona) For more information, read our latest forex news. FXstreet.com (Barcelona) – M4 money supply has increased in June well above expectations in the UK, and above the average flow of the previous six months, according to preliminary estimates by the Bank of England.

In June, M4 money supply has risen by GBP 34.1 billion, a 2.0% increase above May’s level and a 11.5% rise year on year: Market analysts had advanced a 0.5% monthly increase, and a 10% rise year on year. June’s level is well below the GBP 13.6 billion average increase in the last six months.

M4 lending rose by 45.9 billion, which means a 2.1% seasonally adjusted. Year on year, M4 lending rose 13.6%, from a 11.3% increase in may. Excluding the effects of securitisations etc and loan transfers, M4 rose by GBP 50.0 billion; a 14.2% increase on the year, up from the 12.4% annual rise posted in May.
FXstreet.com (Barcelona) For more information, read our latest forex news. FXstreet.com (Barcelona) For more information, read our latest forex news. FXstreet.com (Barcelona) – The Dollar has posted a stronger than expected bounce against the Yen, although, according Nicole Elliott, senior technical analyst at Mizuho Corporate Bank, a drop back seems likely: “The bouncing from the bottom of the Ichimoku ‘cloud’ was far stronger than we had expected but has stalled against the top of the consolidation pattern. It does mean that the US dollar is nowhere near oversold territory any more, but then momentum is now neutral. It all looks terribly overdone and we favour a drop back down to 105.50.”

Regarding strategy, Elliott recommends: “Sell at 106.00, adding to 106.45; stop above 107.00. Short term target 105.50/105.00.”
FXstreet.com (Barcelona) – Producer prices have accelerated in Germany in June, posting the largest year on year rise since 1982, according to data released by German Statistics.

German producer prices index has risen 0.9% from May to June, and 6.7% from June last year, posting the largest annual increase since the 7.2% in March 1982. In the 12 months to May, producer prices had advanced 6.0%.

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