(17 JUNE 2020)DAILY MARKET BRIEF 2:WTI crude slipped more than 2%

<p>The EURUSD consolidates below the 1.13 mark on stronger US dollar, as well. The pair’s short-term direction will likely depend on the US dollar appetite. Meanwhile, the final data should confirm a flattening inflation in European consumer prices. The headline CPI is seen at 0.1% y-o-y inflation in May, and the core inflation at 0.8%. The next technical support lies at 1.1160, the major 38.2% Fibonacci retracement which should distinguish between the actual positive trend and a medium-term bearish reversal. Gold is little changed near the $1725/1730 per oz, as risk averse investors bear the brunt of uncertainty regarding the strength of the latest market recovery. However, the stronger the $1750 offers, the softer the buying interest due to a limited perceived potential to the upside. WTI crude slipped more than 2% in Asia after the API data showed a second-week buildup in US oil inventories. The US stockpiles rose 3.8 million barrels last week, following a 8.42-million-barrel spike a w</p>