This is what you need to know to trade today Monday June 14:
Markets are relatively quiet Monday as traders already have Wednesday’s Fed decision in mind. Talks about infrastructure in the United States seem stalled. The Tesla president pushed Bitcoin up, while Britain is poised to delay the reopening. Oil extends its upward march and gold consolidates its losses.
The American dollar it has been on the rise, extending the gains recorded on Friday. The University of Michigan Consumer Sentiment Index beat expectations in June, while its inflation component fell. That contrasts somewhat with the stronger-than-estimated Consumer Price Index figures released earlier.
While the calendar is relatively light on Monday, tensions are mounting towards the Federal Reserve decision Wednesday. Analysts seem torn between asking the bank to provide the first indication of reducing its bond buying scheme and not changing policy at this point.
According to the latest reports, President Joe Biden’s efforts to approve infrastructure spending have met with objections from his own party. That dampens the hope that arises from a bipartisan proposal discussed last week. The President continues to tour Europe and yields on 10-year US Treasuries are below 1.50%.
It is expected that the Prime Minister of the United Kingdom, Boris Johnson, announce a four-week delay in plans to fully reopen the economy, moving “Freedom Day” from June 21 to July 19. The Delta variant of COVID-19 continues to spread rapidly. The disagreement between Britain and the EU was evident at the G-7 meeting.
The group’s leaders clashed with China over human rights in Xinjiang and the origins of COVID-19. The markets seem to ignore this development.
The founder of Tesla, Elon Musk, has been showing its strength around the price of Bitcoin, this time promising to invest in BTC if more mining comes from renewable sources. Bitcoin rose above $ 39,000, Ethereum changes hands at around $ 2,500, and Shiba got a boost.
The raw petróleo WTI it has maintained its gains and is trading at around $ 71 in hopes of stronger demand. The oro it continues to trade in a tight inverse correlation to the dollar, changing hands at around $ 1,864.
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