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[QUOTE="limyeeshin, post: 103701, member: 35099"] [B][U][CENTER][SIZE="5"][COLOR="Blue"]Thursday 9 June 2016[/COLOR][/SIZE][/CENTER][/U][/B] [B][U][COLOR="red"]Euro gains further after ECB meeting[/COLOR][/U][/B] The euro extended its recent gains against the U.S. counterpart, trading above 1.14 for the first time in three weeks. On Wednesday, the European Central Bank launched a comprehensive corporate bond buying program in its latest attempt to hold off deflation. The bonds will be limited to investment grade securities that are euro denominated and issued in the euro area. The estimated market for bonds is between €500 and €600 billion. Also, ECB Governing member Francois Villeroy de Galhau mentioned about the possible ramifications for lowering interest rates further into negative territory. The EBC held its benchmark rate at a lowest in record of 0.00%. EUR/USD traded between 1.1355 and 1.1410 and settled at 1.1396, up 0.33%. [B][U][COLOR="red"]Dollar falls as lowered expectations of rate hike[/COLOR][/U][/B] The U.S. dollar slumped against other major currencies as uncertainty over next rate hike continued to slow demand for the greenback. On Monday, the Federal Reserve Chair Janet Yellen indicated that the central bank will not be raising rates until the uncertainty over the economy is resolved. According to CME Group’s FedWatch tool, the current probability of rate hike in June fell further to 1.9% and the July stood at 24.8%. The U.S. Labor Department reported its monthly job openings and labor turnover survey (JOLTs) with hiring rate falling to 3.5%, slowest level since 2014. But nationwide job openings increased by 118,000 to 5.79 million, with rate of 3.9%. The dollar fell more than 0.35% and traded at 93.59. [B][U][COLOR="red"]Pound gains with upbeat data[/COLOR][/U][/B] The British pound strengthened against the dollar after the release of upbeat economic reports. The U.K. Office for National Statistics reported that industrial production rose 2.0% in April from 0.3% in March, which is the largest monthly scaling since 2012. Manufacturing output also rose by 2.3% from 0.3% in March, also the fastest monthly increase since 2012. Sterling’s gain was yet limited amid ongoing uncertainty over Brexit referendum on June 23. GBP/USD gained 0.13% at 1.4562. [B][U][COLOR="red"]Kiwi rises after RBNZ keeps its rates[/COLOR][/U][/B] New Zealand dollar rebounded after the Reserve Bank of New Zealand held the official cash rate still. The RBNZ announced to keep the overnight official cash rate steady at 2.25% and signaled room for easing. NZD/USD rose 0.58%, traded at 0.7134. AUD/USD pair also rose together by 0.11% at 0.7497. Ahead in China, CPI data for May is expected to fall 0.2% month on month for a pace of 2.3% gain year on year. Japanese yen also gained despite downbeat core machinery orders, plunging 11.0%. USD/JPY traded at 106.80, down 0.18%. [B][U][COLOR="red"]Events in remaining week[/COLOR][/U][/B] Thursday: Markets in China are closed for a holiday. China is to publish inflation data. The U.K. is to release its trade balance. ECB Governor Mario Draghi is to speak at an event in Brussels. The U.S. is to report weekly jobless claims. Friday: Markets in China are remained closed for a holiday. Canada is to report on monthly employment. The U.S. is to release data on consumer sentiment. [B][U][COLOR="Red"]Major pairs (Thursday update)[/COLOR][/U][/B] USD/JPY ↓0.32% 106.65 EUR/USD ↑0.16% 1.1413 EUR/JPY ↓0.18% 121.72 USD/CAD ↓0.10% 1.2681 GBP/USD ↓0.01% 1.4503 USD/CHF ↓0.13% 0.9579 AUD/USD ↓0.15% 0.7478 NZD/USD ↑0.41% 0.7122 [/QUOTE]
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