This is what you need to know to trade today Tuesday June 29:
The market mood remains optimistic and calm, as inflation fears give way to some hope that the Delta variant will have a limited impact in vaccinated countries. US housing and consumer confidence numbers are in the spotlight. Cryptocurrencies get a boost from Cathy Woods.
The dollar has been spreading its gains along with a minor increase in US Treasury yields. Concerns about rising US inflation after the Federal Reserve’s preferred measure for price increases only met expectations. The central PCE reached 3.4% year-on-year in May.
The Delta variant of COVID-19 It continues to spread rapidly in the UK, Australia and elsewhere as well, but investors find comfort in the relatively limited increase in hospitalizations and deaths. In addition, a new study has shown that the Pfizer and AstraZeneca vaccines are proving efficient.
The EUR / USD It hovers around 1.19 before a speech by Christine Lagarde, President of the European Central Bank, and her hawk colleague Jens Weidmann, President of the Bundesbank. Germany and Spain release preliminary inflation figures for June later in the day.
GBP/USD it is trading below 1.39 as new Health Secretary Sajid Javid seems confident that England will lift restrictions on July 19 as planned. The UK reported more than 22,000 covid cases on Monday, the highest level since January, but hospitals remain calm.
The Fed Member Thomas Barkin He talks later in the day and can provide more information on whether the bank’s position is leaning toward reducing bond purchases. S & P / Case Shiller housing figures and figures for consumer confidence Conference Board for June.
cryptocurrencies: Renowned investor Cathy Woods announced the launch of the Bitcoin Exchange Traded Fund (ETF), giving a boost to all digital assets. The BTC / USD is around $ 35,000.
Gold trading below $ 1,780 and WTI crude at around $ 72 in steady trading. Markets await Non-Farm Payrolls on Friday.
.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
