Can you believe it’s been 16 years today since Apple released the iPhone? 👀

As of this year, 1.36 billion people use an iPhone. To put that into perspective, that means roughly 1 in every 8 people in the world has an iPhone.

Every iPhone user 👇🏼💀

@mahmoudismail9736

If you have an android re-evaluate your life #samsung #iphone #joke #skit #phone #risky

Only have a minute? ⏱

Fed is fed up, ECB is struggling, BoJ is unsure & UK is lost for words.

Nobody has time to watch all of the speeches from the ECB’s conference but you might still want to know what the big names had to say about their economies.

I’ve broken it down for you. You’re welcome. 🙇🏼‍♀️

USA Fed:

• The US is struggling to contain inflation. Even though the fed has been steadily increasing interest rates, it’s taking a lot longer than expected to get prices under control. 🙃

• The US economy has been growing strong; which sounds like good news to most of us. But this really pisses the Fed off. They need the opposite to happen in order to get inflation down to their 2% target which probably won’t happen now until 2025. 😬

• Powell says not to take consecutive rate hikes off the table for the foreseeable future.

ECB:

• Lagarde says it doesn’t seem like inflation is on a downward path just yet in the Eurozone. Which likely means that rate hikes are not over in the EU. 😵‍💫

• The ECB also said that the actual rate of interest isn’t as important as the duration. Even if rates don’t hike much further, the ECB is ready to keep the rate high for as long as it takes to reach their target.

  

Japan:

• BoJ’s governor Ueda was questioned about why he has yet to switch up Japan’s monetary policy even though inflation continues to rise. He responded by saying changes will be made next year if things don’t take a turn for the better.

• He followed by saying that inflation is rising but not enough to concern him. 🤷🏻‍♂️

  

UK:

• Bailey fed us a whole lot of NOTHING. Basically he said “you’ll have to wait and see if we plan to raise interest rates again or not”.

• You think I am exaggerating? He literally said “"The market, I don't think, thinks we're nearly done at the moment. They've got a number of further increases priced in for us. My response to that would be: 'Well, we'll see,'" 🤦🏽‍♂️

US Banks Survives Mock Global Recession 🌎

Even though there were projected losses of $541 billion, the U.S. Fed's stress test showed that the banks have what it takes to withstand a hypothetical global recession.

All 23 banks involved passed meeting the minimum requirements. ✅

Why are we testing the banks anyway? 🤔

The 2008 financial crisis, partially caused by irresponsible banks, was a wake-up call for the US; that’s when this testing begun.

The goal was to ensure banks have enough money and they’re not taking on too much risk.

What does the test look like? 👀

This year was a "severe global recession" with 10% unemployment, a 40% drop in commercial real estate values, and a 38% plunge in housing prices.

Banks were able to weather the (pretend) storm while still lending money to consumers and corps. 💰

So what does this mean for the USA? 🙋🏽‍♀️

There’s a little less for you to worry about.

The big banks are able to keep providing essential funds and credit during difficult times.

Aussies shop now & pay again later 😬

Australia is just steady bothering the RBA.. 😂

Even the expected 0.1% monthly increase in retail sales would have set them off but the actual figure of 0.7%?

Lowe is going to lose his sh*t. 🤬

Where did all the spending come from?

There was an increase in the purchasing of food and takeout last month but that’s not what did it.

Australia was the host of some pretty big sales in May. 🏷

Listen, in this economy, I can’t blame you from taking advantage of a red tag event. 🤷‍♀️

But this probably means Australians are in for yet another rate hike. Until Aussies cool it on the spending, the RBA will keep biting back with higher interest rates.

Trade Of The Day 📈

EURUSD

Friday News

Friday already? 👀

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

• 02:00 — UK Government maxed out their credit card 😬 

  • Event: UK Gross Domestic Product (QoQ) & (YoY) for Q1

  • Major pairs to watch: GBPUSD

• 02:00 — German retailers can’t part consumers from their cash 🙅🏻‍♀️

  • Event: Germany Retail Sales (YoY)(May)

  • Major pairs to watch: EURUSD

• 05:00 — Good news for ECB, small comfort to consumers 😕

  • Event: EU HICP Data for June

  • Major pairs to watch: EURUSD

• 08:30 — P.C.E taking the fun out of spending money 😒

  • Event: Core Personal Consumption Expenditures - Price Index (MoM & YoY) for May

  • Major pairs to watch: EURUSD, XAUUSD

UK Government maxed out their credit card 😬 

Although the UK’s GDP release is a big deal, there’s nothing really exciting on the books tomorrow.

No change at all expected from last quarter.

But that doesn’t mean I don’t have something good for you. 👀

In other news, the UK’s government debt rose above 100% of their GDP for the first time in over half a century. 🤯

What does that mean?

It means the UK government has finally figured out that for every £1 they earn, they owe more than a pound in debt - kind of like when we overspend on our credit cards. 💳

Our paychecks just aren’t as exciting when we know it’s all going toward interest payments.

However, unlike us, they can't call up their bank and beg for an extension - or get someone else to pay it off. Sorry folks, this one’s on you. 🤷‍♀️

German retailers can’t part consumers from their cash 🙅🏻‍♀️

We’ll see Germany’s CPI later this morning and if prices are up slightly like we expect, then it makes sense that retail sales would be down. 👇🏼

And that’s exactly what the consensus shows. An annual drop of 4.3% in sales for May. The same number we saw in April.

Expect EURUSD ↓

It looks like stores in Germany are having a hard time getting consumers to part with their cash - though this could mean that there are some wicked sales on the way for shoppers.

Keep your eye on the clearance racks. 👀

Good news for ECB, small comfort to consumers 😕

The ECB will be happy about this one. 💃🏼

HICP in the EU is expected to drop from 6.1% in May to 5.6% in June.

Expect EURUSD ↑

This is a small step in the right direction but it won’t make much difference to the average consumer just yet.

Both prices and interest rates are still high. 👆🏼

However, the closer we get to the 2% target, the better it will be for those of you in the EU who are waiting for those interest rates to drop. 🙏🏼

P.C.E taking the fun out of spending money 😒

The US Core Personal Consumption Expenditures tell us the average amount of money that Americans spend on everything; besides food and energy.

It's not just your daily taxi fare or concert tickets, it also includes those boring things like rent, insurance premiums, and the occasional doctor's visit. 🩺

Removing food and energy, which are super volatile in price, gives us a more accurate idea of where inflation is really heading. 📈

This means it excludes your venti latte and trips to the gas station.

In April, we saw an annual increase in personal spending of 4.7%. The same is expected for May.

Expect EURUSD ↓

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

Looking for a position size calculator?

Check this one out!