Here is what you need to know on Tuesday, June 18: The USD Index left behind two strong daily advances in a row amidst investors’ speculation of two interest rate cuts by the Fed in 2024. A busy calendar on June 18 will see Retail Sales, Industrial Production, Business Inventories and TIC Flows. In addition, Fed’s Cook, Barkin, Collins, Kugler, Logan, Musalem and Goolsbee are all due to speak. EUR/USD showed some signs of life after Friday’s multi-week lows well south of the 1.0700 support.
Next on tap in the UK calendar will be the release of the Inflation Rate on June 19. USD/JPY maintained the bullish trade well in place and flirted with the 158.00 barrier once again in quite an auspicious start to the week. The Japanese docket will be empty on June 18. AUD/USD alternated gains and losses around the 0.6600 neighbourhood ahead of the key interest rate decision by the RBA. On June 18, the RBA will decide on interest rates.
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