What you need to know Thursday, June 24:
The major pairs oscillated between gains and losses while holding at familiar levels on Thursday. Sentiment led the way, with currencies following the lead of stocks. The dollar fell during the first half of the day, regaining most of the ground lost in the last trading session of the day. The exception was USD / JPY, which advanced to a new 2021 high of 111.10.
Markit released its June flash PMIs for all major economies. Overall, the recovery in the manufacturing sector continues to outpace that of the service sector. Despite the mixed numbers, all the numbers indicated economic expansion.
EUR / USD ended the day around 1.1930, while GBP / USD closed around 1.3970, clinging to modest intraday gains. Commodity-linked currencies advanced against the dollar for the third day in a row.
Gold rose to $ 1,794.92 a troy ounce, but reversed course during the American afternoon and ended the day lower around 1,777.
Crude oil prices peaked at new yearly highs, moderating the rise before the close. WTI closed above $ 73.00 a barrel after the EIA reported that inventories declined by 7.6 million barrels in the week ending June 18, better than anticipated.
The Bank of England is holding a monetary policy meeting, although no fireworks are expected this time as the bank will not release new macroeconomic projections, while there will be no speech from Governor Bailey.
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