What you need to know on Wednesday, June 30:
The dollar appreciated against most major rivals, and the greenback hit new one-week highs, particularly against high-yielding currencies. There was no particular catalyst as the dollar fell back in the last trading session of the day, despite better-than-anticipated US data.
The EUR / USD pair fell below 1.1900, but remains above the June low in the 1.1840 price zone. Below that level, the bearish case is likely to gain momentum. GBP / USD closed around 1.3840, undermined by Brexit nerves related to the Northern Ireland Protocol.
AUD / USD fell towards the 0.7500 level, while USD / CAD flirts with 1.2400. The strength of the US currency and the modest performance of Wall Street weighed on commodity currencies.
Gold tumbled to a new two-month low of $ 1,750.60 a troy ounce, rebounding before the close of $ 1,761. Crude prices recovered some ground and the WTI stood at $ 73.40 a barrel.
Australia announced several lockdowns involving approximately 80% of the population, amid growing cases of the Delta variant coronavirus. Sydney, Brisbane, Perth and Darwin are among the cities that announced restrictions. The country reported more than 100 cases in recent days, a record jump, with only 4% of the population fully vaccinated.
The Delta variant is becoming dominant around the world, although most vaccines have been shown to be effective when immunization is completed with two doses.
On Wednesday, the US will release ADP’s survey of private job creation ahead of Friday’s non-farm payroll report, the event of the week.
.
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.
