The dollar is holding fairly steady so far, helped by a rebound in the USD/JPY pair after Bank of Japan Governor Ueda downplayed expectations for a policy adjustment later this month. The pair is now trading back above 139.00 as we see some quarters of the market being a bit disappointing. Here’s some context if you need it:
Meanwhile, stocks continue to tear up as technology stocks continue to rebound as well. The boom in artificial intelligence continues to increase and we may be looking forward to a strong breakthrough in the bigger picture this year.
Elsewhere, a weaker Chinese Yuan continues to have a negative impact on the Australian and New Zealand dollars in today’s trading. AUD/USD fell another 0.4% to 0.6785 as rejection near 0.6900 continues to hold for now.
Looking at Europe today, inflation is back on the menu but the focus will be on UK CPI data as seen here. The Eurozone reading will be the final estimate so that shouldn’t have much impact.
0600 GMT – UK CPI figures for June
0900 GMT – Eurozone final CPI figures for June
1100 GMT – US MBA Mortgage Applications July 14th
That’s it for the next session. I wish you all the best in the coming days and good luck with your trading! Stay safe out there.