Daily Intermarket Outlook-June 18th

By: IntegrityFX
The USD saw a strong and sustained sell off in the US trading session today, despite equities ending the day overall flat. Oil made a break to $69 but came back to close at just under $71. Media headlines pointed to easing concerns on inflation but looking at gold at $940, the market does not agree. Tomorrow brings the interest rate statement out of Switzerland. Earlier this year they intervened in the markets giving a very significant boost to the Euro. The EURCHF has come down significantly lower over the last few weeks, so it is set for a good rise. In the US market expect risk aversion to gain a larger hold on the market as the S&P 500 makes its way to 890.