FOREX News and Overnight Technical Levels - June 8th

Japanese Yen - JPY

  • Japanese machine orders rise less than expected for the month of April, increases 2.2 percent on the month over month comparison. Places overall annualized figures lower by 9 percent on the year over year.
  • Ministry of Finance official Watanabe notes that there is no immediate risk of a carry trade unwind, helps to boost yen crosses slightly in the overnight.
    Australian Dollar - AUD
  • Australian home loans for April higher than expected, rises 2.2 percent for the monthly comparison.
    Europe - EUR/GBP
  • April OECD leading indicators for the month of April rises to 110.0, bullish for the economy, previous figures were additionally revised higher.
  • German April industrial production declines in the month over month by 2.3 percent, pits the annualized at a 3.8 percent increase - as expected by the consensus.
  • UK April production figures were slightly higher, rising 0.3 percent in the monthly. Manufacturing surprised to the upside, jumping 1.3 percent on the year over year figure.
  • ECB policymaker Smaghi states that rate hikes help to contain inflationary pressures, boosts speculation of near term rate hikes.