Today's Focus: Minutes of Manufacturing PMI,ADP & FOMC| Daily Forex Analysis•Fanny Arianti Arief

The dollar fluctuated between losses and gains, then fell yesterday as markets digested a slightly bearish tone from US monetary officials, offset by predictions that worry about the corona virus from medical experts. US Treasury Secretary Steven Mnuchin and Fed chairman Jerome Powell in their testimony yesterday assessed that his party would do anything to recover the US economy in countering the effects of the corona virus. Mnuchin said that in the DPR had to pass more into the virus relief program at the end of July, while Powell said it could reduce the minimum loan limit under the Main Street program loan in the future. On the other hand, Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases in his address to the Senate committee yesterday regarding the case surge and said about a country that should not be released when comparing the safe and effective Covid-19 vaccine.

Sterling managed to rebound against the US dollar yesterday, despite data showing a UK GDP contracting 2.2% between January and March, the worst growth since 1979. Amid a weakening dollar the pound strengthened 0.83% to $ 2401.

The price of gold won $ 1,785 per ounce during Tuesday's session and starts at $ 1,800, which is a psychological area. Market wealth about protecting the spread of the corona virus in the US and still supporting gold as a safe haven. There are currently more than 10 million cases of the virus, which are spread across several, with the US, the highest infection rates, then Brazil and India.

Oil prices are declining because of an increase in the number of coronary viruses which is feared could disrupt demand. However, the decline in oil was able to release after data from the American Petroleum Institute (API) that determined US oil reserves replaced the decline. API estimates that US oil reserves will fall 2.459 million barrels, more than the estimated decline of 1.583. While distillation reserves rose by 2.638 million barrels, and reserves at the storage center in Cushing Oklahoma also rose by 164 barrels. Last week, the API reported US oil reserves added 1,749 increase. Meanwhile, in terms of production, the Energy Information Administration (EIA) reports that US oil production has fallen from 13.1 million, which was achieved on March 13, to 11 million bpd. On June 12, US oil production reached 10.5 million bpd, the lowest in recent years. The price of WTI oil fell 0.83% to $ 39.37 and Brent dropped 1.34% to $ 41.15.

Asian stocks varied in early quarterly trading, as investors scrutinized mixed global economic data amid the corona virus and US-China merger. Shares in Japan were flat after the Tankan survey dropped to the lowest level since 2009. While Australian shares gained, and South Korea recorded a big gain. Hong Kong bourse closed due to a public holiday.

Today's Focus: Minutes of Manufacturing PMI, ADP & FOMC

Large-scale countries will release manufacturing PMI data, which will carry a large showing of Covid-19 against the manufacturing sector in these countries. After that, the focus of the market will be on the US ADP non-farm payroll data, which is expected to grow 2,850 thousand in June. The data will provide an overview of payroll data to be released Thursday. Then there are FOMC minutes.

[About The Author]

Fanny has started her self-learning of Forex since 2005 and has joined an Indonesian broker as a financial consultant in 2009. Through “trial and error”, she has learnt a lot from failure experiences. She is now a renowned trainers for the forex beginners and has helped the clients to get the profits from trade.

WikiFX

App is a third-party inquiry platform for company profiles.WikiFX has

collected 17001 forex brokers and 30 regulators and recovered over

300,000,000.00 USD of the victims.

It, possessed by Wiki Co., LIMITED that was established in Hong

Kong Special Administrative Region of China, mainly provides basic

information inquiry, regulatory license inquiry, credit evaluation for

the listed brokers, platform identification and other services. At the

same time, Wiki has set up affiliated branches or offices in Hong Kong,

Australia, Indonesia, Vietnam, Thailand and Cyprus and has promoted

WikiFX to global users in more than 14 different languages, offering

them an opportunity to fully appreciate and enjoy the convenience

Chinese Internet technology brings. WikiFXs social media account as

below:

Facebook:

USA Area：https://www.facebook.com/WikiFX.US/

UK Area：https://www.facebook.com/Wikifx.UK/

Australia Area：https://www.facebook.com/WikiFX.au

Nigeria Area：https://www.facebook.com/WikiFX.ng

Twitter：

Areas where English is an official language：https://twitter.com/WikiFX_Eng

More details about how to download WikiFX App:

Please download WikiFX APP from links below or scan QR code ：

App Store: https://apps.apple.com/us/app/fxeye/id1402501387？l=zh&ls=1

Google Play: https://play.google.com/store/apps/details？id=com.foreigncurrency.internationalfxeye

If you have any questions, please feel free to contact us at wikifx@wikifx.com

Worried about missing out latest trends in the volatile market？ WikiFX ‘News Flash’ is here to help!

With

24-hour real-time update of forex market data by minute, you can seize

the opportunity of every bullish market! Bookmark the link below and

follow the market trends immediately!

UK Area：https://live.wikifx.com/uk_en/7x24.html

USA Area：https://live.wikifx.com/us_en/7x24.html

Nigeria Area：https://live.wikifx.com/ng_en/7x24.html

Australia Area：https://live.wikifx.com/au_en/7x24.html

Wiki Forum Forum Function:

In order to help more investors, WikiFX has launched the WikiFX

Forum forum, which aims to provide urgently needed and professional

services to Nigerian forex investors.

The exposure function of “WikiFX Forum” includes the following features:

1: Allow investors who have been defrauded by illegal broker to complain directly in the forum (as shown in the screenshots)

As long as there is sufficient evidence, a review panel and an

executive team will contact the broker to discuss the complaint or

expose it directly through the media. Here are the exposure channels:

2: Block low score brokers from entering the forum

3: Monitor suspicious communication in real time, and directly spot and deal with suspicious fraud;

4: Negotiate with highly reliable brokers selected by WikiFX in the secure environment of WikiFX Forum.

WikiFX APP exposure channel: https://activities.wikifx.com/gather/indexng.html

Information page to understand forex scam and exposure channel: https://activities.wikifx.com/gather/indexng.html

Website exposure channel: https://exposure.wikifx.com/ng_en/revelation.html