Forex Today: NZD dumped on GDP miss, AUD cheers strong jobs, UK retail sales & BOE - Key

An eventful Asian session today, despite moderate risk-off tone prevalent amid latest reports on the Trump investigation and overnight sell-off in oil prices. The Antipodeans traded volatile in Asia, although in opposite directions. The Kiwi was heavily dumped on the back of NZ Q1 GDP miss, while the Aussie rallied on stronger-than expected Australian jobs data. Meanwhile, the USD index eased a bit on renewed US political concerns, in the wake of Trump probe.

Heading into Europe, all eyes remain on the UK retail sales and BOE interest rates decision accompanied by its minutes. Meanwhile, in the NA session, the Canadian manufacturing sales will be reported alongside the US economic releases, viz., jobless claims, import prices, industrial production and Philly Fed manufacturing index.

Main topics in Asia

New Zealand Gross Domestic Product (YoY) came in at 2.5% below forecasts (2.7%) in 1Q

WaPo: Special counsel is investigating Trump for possible obstruction of justice, officials say

Australia consumer inflation expectations drop in June

RBNZ Bulletin: Neutral interest rate has continued to decline

Oil remains under pressure on high inventories

Key Focus ahead

Trading the BoE rate decision: Will GBP/JPY rebound from critical trend line support?

USD/CHF: SNB to have little impact on the Swiss franc

BOE’s June meeting to be relatively uneventful – Goldman Sachs

EUR/USD: Will the buyers retain control above 1.1200?