This is what you need to know to trade today Wednesday June 30:
Markets remain calm and the US dollar is returning some ground amid end-of-quarter money flows and ahead of ADP’s jobs report. The focus is also on the eurozone inflation figures and speeches by Fed members.
End of Quarter Flows: After the Federal Reserve-induced rally of the dollar in mid-June, investors appear to withdraw some benefits on the last day of the month and the quarter. On the other hand, stock markets remain near record highs and gold is consolidating around $ 1,755, the lowest level since April.
Members of the Fed They have been sending mixed messages. While Governor Christopher Waller called for reducing bond buying, Thomas Barkin of the Richmond branch said more economic progress is needed. Barkin speaks again on Wednesday.
The ADP private sector jobs report will show an increase of 600,000 jobs in June, below what the payroll company reported for May, 978,000. The correlation between ADP statistics and official NFP statistics has weakened after the outbreak of the pandemic.
See: ADP jobs report preview: Move the other way? How to trade this leading indicator
The EUR/USD hovers around the 1.19 region before the release of preliminary inflation figures for June. The general CPI consumer price index is expected to moderate from 2% to 1.9% and the underlying CPI from 1% to 0.9%.
The GBP/USD it is trading around 1.3830 as concerns persist about the spread of the Delta variant. Andy Haldane, a member of the Bank of England, speaks later in the day. Final first quarter GDP figures showed a 1.6% drop compared to the 1.5% initially reported.
The USD / CAD it is trading around 1.23 ahead of the release of Canada’s gross domestic product GDP data for April. AUD / USD is trading above 0.75, somewhat driven by upbeat China PMI Purchasing Managers Indices.
cryptocurrencies: Bitcoin is down, trading around $ 35,000 after benefiting from institutional interest earlier in the week. Ethereum is consolidating its recovery.
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