AFTERNOON MARKET OVERVIEW
GBPNZD 1.8468 +0.21%, EURNZD 1.5643 +0.17%, NZDUSD 0.8387 -0.16%, NZDCAD 0.8429 -0.11%, AUDNZD 1.2145 +0.07%, NZDCHF 0.7877 -0.06% and NZDJPY 83.02 -0.01%.
Wednesday’s release of Germany’s industrial production figure has outperformed market expectations of -0.1%, posting an sharp increase of 1.2% in May, up from its previous level of 0.6% in April. Euro pairs immediately reacted to the upside, bolstering earlier gains in the session.
Shortly following the IP data release saw yields for German five-year Bobl treasury auction result in a rise to 0.380% from its previous level of 0.330% - suggesting a slight weakening in investor sentiment in Germany. However it’s worth noting that this is the first rise in four months from a high of 0.680 in February.
EURJPY 129.90 +0.16%, EURNZD 1.5639 +0.15%, EURCHF 1.2323 +0.06%, EURAUD 1.2874 +0.06%, EURCAD 1.3185 +0.04%, EURUSD 1.3125 +0.03% and EURGBP 0.8470 -0.02%.
Europe’s major equity indexes are also trading higher into the London afternoon session. The EU Stoxx 600 is currently trading at 302.80 +0.35% from its previous close, the French CAC 40 is trading at 3946.53, up 0.64% and finally, the German DAX index has pushed higher to 8224.28 +0.52% from its previous close.
Switzerland’s Consumer Price Index (CPI), released on Wednesday saw market expectations disappointed as it posted no growth (0%) month-on-month, missing projections of 0.1%, down from its previous level of 0.2%.
Swiss pairs are mixed following the release, with losses being seen only in the EUR/CHF and USD/CHF pairs from their respective previous closes.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
GBPCHF 1.4546 +0.08%, NZDCHF 0.7876 -0.08%, CHFJPY 105.36 +0.07%, EURCHF 1.2323 +0.06%, USDCHF 0.9388 +0.03% and CADCHF 0.9343 +0.02%. In commodity markets, WTI for June delivery was at $95.60 a barrel. Brent for June settlement fell 34 cents to $104.06 a barrel.
Gold for immediate delivery rose 0.1 percent to $1,454.68 an ounce, paring losses spanning two consecutive trading days.
Story provided by StockMarketWire.com