On Tuesday, June 29, here’s everything you need to know:
Fears of inflation have given way to some hope that the Delta variety will have a limited impact on countries that have been vaccinated. Consumer confidence and housing data in the United States are being monitored. Cathie Wood is a supporter of cryptocurrencies.
Along with a small uptick in US Treasury yields, the dollar has been extending its gains. Concerns about increased US inflation have been expressed after the Federal Reserve’s favored measure of price increases merely met forecasts. In May, core PCE increased by 3.4 percent year over year.
The Delta COVID-19 variation is rapidly spreading in the United Kingdom, Australia, and other countries, although investors are comforted by the very small increase in hospitalizations and deaths. Furthermore, a recent study found that combining the Pfizer and AstraZeneca vaccinations is effective.
Ahead of a speech by Christine Lagarde, President of the European Central Bank, and her hardline colleague Jens Weidmann of the Bundesbank, the EUR/USD is trading around 1.19. Later in the day, Germany and Spain release preliminary inflation statistics for June.
GBP/USD is trading below 1.39, indicating that England’s new Health Secretary, Sajid Javid, is confident that restrictions will be lifted on July 19, as planned. On Monday, the UK recorded over 22,000 covid cases, the largest number since January, yet hospitals remain unconcerned.
Later in the day, Fed member Thomas Barkin will talk, and he may provide more information on how close the bank is to cutting bond purchases. The Conference Board’s Consumer Confidence statistics for June and the S&P/Case Shiller Compositive House Price Index are both being watched.
Consumer Confidence, according to the Conference Board June’s Highlights: Cryptocurrencies come second to pragmatism: Cathie Wood, a well-known investor, has announced the development of a Bitcoin Exchange Traded Fund (ETF), which will benefit all digital assets. The BTC/USD exchange rate is now hovering around $35,000.
In a steady trade, gold is trading below $1,780 while WTI Crude Oil is trading around $72. The markets are looking forward to Friday’s Nonfarm Payrolls.
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