Analytics, News, and Forecasts for CFD Markets: currency news — 20-06-2018.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 5.9 million barrels from the previous week. At 426.5 million barrels, U.S. crude oil inventories are about 2% below the five year average for this time of year.

Total motor gasoline inventories increased by 3.3 million barrels last week and are about 6% above the five year range. Finished gasoline and blending components inventories both increased last week.

Distillate fuel inventories increased by 2.7 million barrels last week and are about 14% below the five year average for this time of year. Propane/propylene inventories increased by 3.2 million barrels last week and are about 15% below the five year average for this time of year. Total commercial petroleum inventories increased by 0.2 million barrels last week.

• U.S. Inflation Is Getting Close to Target

• That Calls for Continued Gradual Rate Increases

Existing-home sales fell back for the second straight month in May, as only the Northeast region saw an uptick in activity, according to the National Association of Realtors.

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 0.4 percent to a seasonally adjusted annual rate of 5.43 million in May from downwardly revised 5.45 million in April. With last month's decline, sales are now 3.0 percent below a year ago and have fallen year-over-year for three straight months.

The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

The $8.0 billion increase in the current-account deficit reflected an $8.1 billion increase in the deficit on goods and relatively small and nearly offsetting changes in the balances on services, primary income, and secondary income.

• OPEC/Non-OPEC Agreement Has Succeeded in Bringing OECD Oil Stocks to 5-Year-Average

• Calls for 'Institutionalization' of OPEC/Non-OPEC Supply Agreement

EUR/USD

Resistance levels (open interest**, contracts)

$1.1790 (2256)

$1.1733 (881)

$1.1697 (128)

Price at time of writing this review: $1.1576

Support levels (open interest**, contracts):

$1.1540 (2839)

$1.1506 (4614)

$1.1468 (4812)

Comments:

- Overall open interest on the CALL options and PUT options with the expiration date July, 9 is 100090 contracts (according to data from June, 19) with the maximum number of contracts with strike price $1,1500 (4812);

GBP/USD

Resistance levels (open interest**, contracts)

$1.3391 (692)

$1.3329 (202)

$1.3267 (160)

Price at time of writing this review: $1.3157

Support levels (open interest**, contracts):

$1.3117 (2065)

$1.3087 (1571)

$1.3053 (2443)

Comments:

- Overall open interest on the CALL options with the expiration date July, 9 is 22878 contracts, with the maximum number of contracts with strike price $1,3650 (2444);

- Overall open interest on the PUT options with the expiration date July, 9 is 26816 contracts, with the maximum number of contracts with strike price $1,3250 (2528);

- The ratio of PUT/CALL was 1.17 versus 1.16 from the previous trading day according to data from June, 19.

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.

Seoul-based bitcoin exchange Bithumb said Wednesday it had lost over $30 million as the result of being hacked, the second cyber attack in two weeks to hit a major South Korean cryptocurrency exchange as safety concerns hamper the industry and weigh on prices.

In May 2018 the index of producer prices for industrial products rose by 2.7% compared with the corresponding month of the preceding year. In April the annual rate of change all over had been 2.0%, as reported by the Federal Statistical Office (Destatis).

Compared with the preceding month April the overall index rose by 0.5% in May 2018 (+0.5% in April 2018 and +0.1% in March 2018).

In May 2018 the price indices of all main industrial groups increased compared with May 2017: Energy prices were up 5.5%, though the development of prices of the different energy carriers diverged. Prices of petroleum products were up 12.5%, whereas prices of electricity increased by 8.0% and prices of natural gas (distribution) rose by 1.8%. Prices of intermediate goods were up 2.6%. Prices of non-durable consumer goods rose by 0.8% and of durable consumer goods by 1.6%, whereas prices of capital goods increased by 1.2%.

The overall index disregarding energy was 1.7% up on May 2017 and 0.2% compared with April 2018.

• Consumer confidence fell in June, taking it slightly below its long-run average.

• The drop in confidence was widespread, and is consistent with the recent signs that the edge has come off the economy's upturn.

• More households say that now is a good time to buy major household items, but this may reflect an expectation of price rises rather than a greater appetite to spend.

• Households' inclination to save remains low.