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FED PAUSES RATE HIKE, NASDAQ REACHES 8TH-WEEK WINNING STREAK

  

Significant events to watch:

-UK (GBP): CPI YOY

-SWITZERLAND (CHF): SWISS INTEREST RATE

-USA (USD): INITIAL JOBLESS CLAIMS

UK (GBP): GBP CPI  (YOY) – The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation. The last CPI was 8.3%, higher than the forecast of 8.1%.

The report is due Wednesday,  21 June 06:00 GMT

SWITZERLAND (CHR): SWITZERLAND INTEREST RATE DECISION – Swiss National Bank (SNB) governing board members come to a consensus on where to set the target range for the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation. Switzerland’s interest rate is set at 1.50%.

The report is due Thursday, 22 June 07:30 GMT

US (USD): INITIAL JOBLESS CLAIMS – Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. Last week’s jobless claims came to 262K, higher than the forecast of 250K.

The report is due Thursday, 22 June 12:30 GMT

Risers and Fallers

-Nasdaq (-0.68%)

-Meta (-0.29%)

-GBPJPY (+1.46%)

-NVIDIAl (+0.09%)

Nasdaq – The Nasdaq declined 0.68% on Friday, but gained 2.73% in the last five days. The index made a daily high and low of 13,864.86 and 13,680.96, respectively. The index closed at 13,689.57.

Meta Platforms (NASDAQ: META) – Meta Platforms declined 0.29% on Friday, however, the stock has gained 5.09% in the last five days.  Meta is trading at $281.00 per share.

GBPJPY – GBPJPY increased 1.46% on Friday.  GBPJPY is trading at 181.9220.

Nvidia Corp. (NASDAQ: NVDA) – Nvidia’s stock barely moved on Friday, only increasing 0.09%. However the company has been on a bullish run and has gained 162.22% for the past 6 months. Nvidia is trading at $426.92.


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