Data wise primary focus on German Zew Economic Sentiment and US May inflation. We and financial markets are more focusing on US inflation report.
What happened when Trump met Kim?
President Donald Trump and North Korean leader Kim Jong Un on Tuesday signed a joint agreement following a round of meetings in Singapore.
Trump called the document “pretty comprehensive” and claimed North Korean denuclearization would begin “very quickly” although it was not immediately clear what was in the message- Source: Politico
Today in Asian session USDJPY grab the traders’ attention as Trump-Kim summit took place. During and post-summit the cross USDJPY is trading up 0.30%. Overall, in Asian session EUR down 0.25%, GBP down 0.20%, AUD is neutral, and NZD recovered from earlier losses and currently trading with 0.10% gains.
US May inflation:
May inflation data is due from the US session. We believe upside risk to US CPI and Core too on YoY basis. The higher oil price will expose to the core and headline figures. On a monthly basis, the CPI is expected to unchanged at 0.2% whereas core CPI is forecast to uptick 0.2% from 0.1%.
The Consumer Price Index increased 0.2 percent in April after falling 0.1 percent in March. In April Headline inflation rose to 2.5% for the 12 months ending April. Core inflation rose to 2.1% for the 12 months ending April.
It is important to always keep in mind the risks involved in trading with leveraged instruments.
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