June 22nd is national kissing day. 👁👄👁

Don’t have a girl? No sweat.

Kiss your dog!

Don’t have a dog? Red flag. 🚩

Only have a minute? ⏱

False hopes & high prices: Can it get any worse? 😰

That CPI drop from March to April really gave us some false hope, huh?

Inflation in the UK is stuck at 8.7% for the second month in a row. That decline we were expecting is nowhere to be seen. 👀

With the BoE making their interest rate decision tomorrow, this is not good news for anyone hoping we might see a rate cut or pause. 😬

Experts were predicting that the rate would increase from 4.5% to 4.75% even with a decline in inflation. Without one?

We might see the rate go as high as 5% tomorrow. 🤯

I know the goal with hiking interest rates is to drive prices down… but is the BoE noticing that now all we’ve got is high rates AND high prices? SOS!

Big spenders VS BoC: Who will break first? 👀

Well this is certainly not what the Bank of Canada was hoping for..

Canadian retail sales increased 1.1% instead of the 0.2% forecast. Canada is now leading most countries in retail sales. 🔝

The BoC has been raising interest rates in attempt to do the same as most other central banks: slow demand to bring inflation down.

But Canadians are too busy shopping to notice. 🤑

Grocery stores, furniture stores, department stores and car dealerships were all flooded with shoppers looking to spend some cash. And boy did they ever.

Canadians spent a total of $65.9 BILLION in April. 😮

This big shopping spree is going to cost them. There is now a 75% chance the Bank of Canada will hike interest rates by at least 25 basis points in July.

The fight continues. 🛍🤺

Powell takes the stand 🎤

What did he have to say about the US economy?

Take a look:

And follow our Insta while you’re at it. 😛

Trade Of The Day 📈

GBPUSD

Friday News

It might be an early Friday morning but the week is almost over! 👏🏻

Here’s what you’re in for:
(All times in EST)

• 03:30 & 04:00 — Germany is a big player in an even bigger game 🤾🏼‍♂️

  • Event: Germany HCOB Composite PMI(Jun), Germany HCOB Manufacturing PMI(Jun), Eurozone HCOB Composite PMI(Jun)

  • Major pairs to watch: EURUSD

• 04:30 — UK Service sector serving us some good news? 🙏🏼

  • Event: S&P Global/CIPS Services PMI(Jun)

  • Major pairs to watch: GBPUSD

Germany is a big player in an even bigger game 🤾🏼‍♂️

We’ve got three different scores to watch out for tomorrow and we’re no longer talking about hockey. 🏒

First, the German HCOB composite PMI. Let’s break that down:

This report tells us about how manufacturing and services companies are doing in Germany. 🇩🇪

Basically companies will answer some questions, with bigger companies having more impact on the results.

The score tells us if companies think things got better, worse or stayed the same since last month.

A number over 50 means it got better and a number under 50 means it got worse.

Last month, the score was above 50 at 53.9. Tomorrow, we’re expecting a score of 53.5. 👏🏻

Then, the German HCOB manufacturing PMI:

This report is similar. It just tells us how things are going specifically in the manufacturing sector. 👷🏽‍♀️

Manufacturing makes up a huge part of German GDP so this score gives us a good idea of how Germany’s economy is doing overall.

We’ll get to see their opinion on stuff like production, new orders, employment levels and delivery times. 🚛

Above 50, things are looking good. Below 50, not so good.

A small increase expected in June from last month’s numbers but still below 50.

43.2 to 43.5. Expect EURUSD ↓

Why are Germany’s scores so important?

Germany is kind of a big deal.

They have the fourth largest economy in the world and their performance has a significant impact on Europe’s GDP. So, we keep a close eye on their scores.

Finally, the Eurozone HCOB Composite PMI:

The exact same report as the first one we talked about but instead of just looking at Germany, we’re looking at the European Union (EU) as a whole.

May gave us a score of 52.8 and June is predicted to come in at 52.5.

Anything above 50.0 is a win! 👌🏼

UK Service sector serving us some good news? 🙏🏼

The Services PMI will tell us how the UK service sector is doing this month.

How? A survey is given to a bunch of companies in the UK service sector. 🙋🏻

Why? Because the service sector makes up more than 75% of the GDP in the UK. 😮

A high score (above 50) means more consumer spending and more jobs in the service sector. This strengthens the value of the GBP. 🇬🇧👆🏼

And of course a low score (below 50) means less spending and less jobs weakening the value of the GBP.🇬🇧👇🏼

Last month, they delivered a score of 55.2. The estimate for June is a score of 54.8. Expect GBP/USD ↑.

Grow with Tradezie

Do you have a cool trading software to promote? Or maybe you represent a growing business in the Forex industry?

Expose your brand to over 1200+ traders who are always looking for an edge.

Get in touch.

Technical Tip

Are you overtrading? Here are three tips to help you quit!

1. Wait 15-20 minutes after a loss before you trade again. ⏱

2. Include a ‘number of trades per day’ section in your trading plan. Do not go over this number. ❌

3. Stop trading after three consecutive losses. 🛑