Trump-Kim Shake Hands

Daily Analysis - 12/06/2018

North Korea Pledges to Work Towards Denuclearization

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The meeting between U.S. President Donald Trump and North Korean leader Kim Jong- Un ended after hours of closed-door talks. Trump described the document that was signed with Kim as “very important” and “pretty comprehensive” and signaled that both sides are willing to work toward complete denuclearization of the Korean Peninsula.

Market Sentiment is Positive; Safe Haven Yen Weakens


The pound extended losses this morning after a big tumble yesterday on disappointing U.K. manufacturing data. Today’s employment data out of the U.K. will be on focus, we will a vote on a Brexit Bill in Parliament. The so-called “Withdrawal Bill” amendment vote is crucial and may change the U.K. government’s Brexit stance. This is definitely a big risk event for sterling. GBPUSD is currently trading around $1.3360.

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Big Day for Theresa May


The pound extended losses this morning after a big tumble yesterday on disappointing U.K. manufacturing data. Today’s employment data out of the U.K. will be on focus, we will a vote on a Brexit Bill in Parliament. The so-called “Withdrawal Bill” amendment vote is crucial and may change the U.K. government’s Brexit stance. This is definitely a big risk event for sterling. GBPUSD is currently trading around $1.3360.

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US CPI a Big Focus Today


U.S. inflation data are due later in the day, and both the headline and core numbers are expected to come in above the Fed’s target rate of 2 percent. These readings will be important as the FOMC meeting is on Wednesday and may underscore the hawkish tone expected at this June meeting.

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