European Summary and Highlights 15 July

European morning session

The USD fell back through the European morning after making some gain in Asia, following the Trump assassination attempt and somewhat disappointing Chinese data. The EUR was the best performer with EUR/USD gaining 25 pips to 1.0915, while AUD and GBP gained only marginally, and USD/JPY was little changed near 158. USD/CHF fell 15 pips to 0.8940, but the USD was little changed against the scandis.

The only data in the session was Eurozone industrial production, which fell a little less than expected but was still weak at -0.6% m/m, -2.9% y/y in May.

Asia session

Donald Trump was shot in a rally in Butler, PA. His ear was grazed by a bullet where one attendee died and two injured. While investigation is undergoing, the assassination attempt seems to have strengthen Trump's support as his tough gesture after being shot is praised. USD opened mostly higher against major. USD/JPY opened at 158.08, which is around 20 pips higher than Friday close and is trading lower at 158 figure. 

The NZ Service PMI continue to contract in June from 43 to 40.2. It seems to confirm the shift in rhetoric from the RBNZ which indicates that likely Q2 CPI will tread lower and closer to their inflation forecast. Regional sentiment is also tilted to the downside. NZD/USD never managed to close the opening gap and is trading 0.33% lower at 0.6098. AUD/USD fared better but also failed to close the opening gap to trade 0.13% lower at 0.6775 while USD/CAD once closed the gap and is currently trading 0.13% higher at 1.3656. Else, EUR/USD is down 0.1% and GBP/USD is down 0.11%, both has not closed the opening gap.