FINANCIAL MARKET REVIEW FOR JUN 11, 2018 Key stats scheduled for release through the Asian session this morning were limited to machinery orders out of Japan. In the equity markets, the Nikkei was up 0.64% at the time of writing, while the Hang Seng and CSI300 were up 0.31% and by 0.17% respectively, the pair partially recovering heavy losses from Friday. It’s a busy week ahead and, with the North Korea – U.S Summit tomorrow, it’s going to be a choppy week ahead. For the EUR, there are no material stats scheduled for release, leaving the EUR in the hands of market risk appetite ahead of tomorrow’s North Korea – U.S Summit, sentiment towards Thursday’s ECB and trade war chatter. For the Pound, it’s a busy day on the data front, with April’s industrial and manufacturing production figures, alongside trade data scheduled for release this morning, ahead of NIESR GDP estimates in the early afternoon. Following some solid private sector PMI numbers, positive numbers today would continue to support the market’s shift in sentiment towards BoE policy and raise the stakes for a rate hike in the months ahead. Across the Pond, there are no material stats scheduled for release out of the U.S through the day, leaving the Dollar firmly in the hands of the U.S President going into the North Korea – U.S Summit tomorrow. There will be some apprehension ahead of the meeting, with Trump needing to get more out of the Summit than just a photo opp. Oil prices fell on Monday, pulled down by rising Russian production and U.S. drilling activity creeping to its highest in more than three years. U.S. West Texas Intermediate (WTI) crude futures were down 21 cents, or 0.3 percent, at $65.52 a barrel. View our full economic calendar for a daily roundup of major economic events.
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