Erik Schafhauser Zürich

Morning Brew June 16 2021

Good Morning

Yesterday the rise in equities stalled after higher than expected PPI and lower than expected retail sales number in the US, basically indexes gave up earlier gains. Dax retreated to 15738 after failing at the 15800, EURUSD trades at 1.2130. Gold and Silver also hardly changed .The USD Index remains at 90.50, the 10 year Rate increases to 1.5.

Japanese Exports rose at the fastest pace since 1980 in May but slightly missed expectations, they came at 49.6% vs 51.3% expected.,

At the FOMC Rate decision tonight, no change in rates is expected with a probability of more than 95% but there are expected to be indications on tapering and maybe comments to which degree the current inflation is transitory.

UK inflation may also be of interest for all GBP traders.

After the smaller moves the last few days, be sure to check your position sizes  for possible sharp moves in the USD and or equities depending on the outcome,.

Local Start Date

Local Time

Country/Region

Indicator Name

Period

Reuters Poll

Unit

16 Jun 2021

08:00

United Kingdom

CPI MM

May

0.3%

Percent

16 Jun 2021

08:00

United Kingdom

CPI YY

May

1.8%

Percent

16 Jun 2021

08:00

United Kingdom

RPI MM

May

0.2%

Percent

16 Jun 2021

08:00

United Kingdom

RPI YY

May

3.2%

Percent

16 Jun 2021

08:00

United Kingdom

RPIX YY

May

Percent

16 Jun 2021

08:00

United Kingdom

PPI Input Prices MM NSA

May

1.1%

Percent

16 Jun 2021

08:00

United Kingdom

PPI Input Prices YY NSA

May

Percent

16 Jun 2021

08:00

United Kingdom

PPI Output Prices MM NSA

May

0.4%

Percent

16 Jun 2021

08:00

United Kingdom

PPI Output Prices YY NSA

May

4.5%

Percent

16 Jun 2021

08:00

United Kingdom

PPI Core Output MM NSA

May

Percent

16 Jun 2021

08:00

United Kingdom

PPI Core Output YY NSA

May

Percent

16 Jun 2021

09:00

China (Mainland)

Urban Investment (YTD)YY

May

16.9%

Percent

16 Jun 2021

09:00

China (Mainland)

Industrial Output YY

May

9.0%

Percent

16 Jun 2021

09:00

China (Mainland)

Retail Sales YY

May

13.6%

Percent

16 Jun 2021

14:30

United States

Building Permits: Number

May

1.740M

Number of

16 Jun 2021

14:30

United States

Housing Starts Number

May

1.630M

Number of

16 Jun 2021

14:30

United States

Import Prices MM

May

0.7%

Percent

16 Jun 2021

14:30

Canada

CPI Inflation MM

May

0.4%

Percent

16 Jun 2021

14:30

Canada

CPI Inflation YY

May

3.5%

Percent

16 Jun 2021

14:30

Canada

CPI BoC Core YY

May

Percent

16 Jun 2021

14:30

Canada

CPI BoC Core MM

May

Percent

16 Jun 2021

14:30

Canada

Wholesale Trade MM

Apr

-0.9%

Percent

16 Jun 2021

20:00

United States

Fed Funds Tgt Rate

16 Jun

0-0.25

Percent

16 Jun 2021

20:00

United States

Fed Int On Excess Reserves

16 Jun

Percent

16 Jun 2021

23:00

Brazil

Selic Interest Rate

16 Jun

4.25%

Percent

17 Jun 2021

00:45

New Zealand

GDP Prod Based QQ, SA

Q1

0.5%

Percent

17 Jun 2021

00:45

New Zealand

GDP Prod Based YY, SA

Q1

0.9%

Percent

17 Jun 2021

00:45

New Zealand

GDP Prod Based, Ann Avg

Q1

-2.8%

Percent

17 Jun 2021

00:45

New Zealand

GDP Exp Based QQ, SA

Q1

0.5%

Percent

17 Jun 2021

03:30

Australia

Employment

May

30.0k

Person

17 Jun 2021

03:30

Australia

Participation Rate

May

66.1%

Percent

17 Jun 2021

03:30

Australia

Unemployment Rate

May

5.5%

Percent

17 Jun 2021

09:00

Austria

HICP MM

May

Percent

17 Jun 2021

09:00

Austria

HICP YY

May

Percent

17 Jun 2021

09:30

Switzerland

SNB Policy Rate

Q2

Percent

17 Jun 2021

10:00

Norway

Key Policy Rate

17 Jun

0.00%

Percent

17 Jun 2021

11:00

Euro Zone

HICP Final MM

May

0.3%

Percent

17 Jun 2021

11:00

Euro Zone

HICP Final YY

May

2.0%

Percent

17 Jun 2021

11:00

Euro Zone

HICP-X F, E, A, T Final MM

May

0.2%

Percent

17 Jun 2021

11:00

Euro Zone

HICP-X F,E,A&T Final YY

May

0.9%

Percent

17 Jun 2021

13:00

Turkey

CBT Weekly Repo Rate

Jun

19.00%

Percent

17 Jun 2021

13:00

Turkey

O/N Lending Rate

Jun

Percent

17 Jun 2021

13:00

Turkey

O/N Borrowing Rate

Jun

Percent

17 Jun 2021

13:00

Turkey

Late Liquidity Window Rate

Jun

Percent

17 Jun 2021

14:30

United States

Initial Jobless Clm

12 Jun, w/e

Person

17 Jun 2021

14:30

United States

Cont Jobless Clm

5 Jun, w/e

Person

17 Jun 2021

14:30

United States

Philly Fed Business Indx

Jun

31.0

Index

18 Jun 2021

01:30

Japan

CPI, Core Nationwide YY

May

0.1%

Percent

18 Jun 2021

01:30

Japan

CPI, Overall Nationwide

May

Percent

18 Jun 2021

08:00

Germany

Producer Prices MM

May

0.6%

Percent

18 Jun 2021

08:00

Germany

Producer Prices YY

May

6.3%

Percent

18 Jun 2021

08:00

United Kingdom

Retail Sales MM

May

1.8%

Percent

18 Jun 2021

08:00

United Kingdom

Retail Sales Ex-Fuel MM

May

2.0%

Percent

18 Jun 2021

08:00

United Kingdom

Retail Sales YY

May

29.2%

Percent

18 Jun 2021

08:00

United Kingdom

Retail Sales Ex-Fuel YY

May

27.3%

Percent

18 Jun 2021

Japan

JP BOJ Rate Decision

18 Jun

-0.10%

Percent

(Refinitiv)

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