The dollar is quoting with losses marked at the beginning of the week, since the market participants remained cautious before the speech of President Powell and another central banker in the ECB forum in Portugal, while they also keep an eye on commercial developments and the probability of additional relief by the Fed.
This is what you have to observe on Tuesday, July 1:
The American dollar index (DXY) joined the downward leg and backed away new minimums of several years in the neighborhood of 97.00. The final manufacturing PMI of the Global S&P will be published, followed by the ISM manufacturing PMI, the Jolts Employment Offers, the RCM/TIPP Economic Optimism Index, the Dallas Fed Services Index, in the ECB forum in Sintra (Portugal).
The EUR/USD extended its rise and reached new maximums of 2025 around 1,1780. The German labor market report will be the main approach, followed by the final manufacturing PMI of HCOB both in Germany and in Europe, the advanced inflation rate in the euro zone and the ECB forum on central banking.
Despite the continuous seller bias in the dollar, the GBP/USD managed to quote with modest advances in the low zone of 1,3700. Nationwide housing prices are the following on the agenda, followed by the final manufacturing PMI of Global S&P and Bae Baile speech.
The USD/JPY lost momentum and backed away the 143.70, or minimum two -day area, further extending its rejection of the monthly maximums last week around 148.00. The Tankan survey will be published together with the final manufacturing PMI of Jibun Bank and the consumer’s confidence indicator. Ueda del Boj will also speak in the ECB forum.
The Aud/USD resumed its upward trend and reached maximum of the year around the 0.6580 area. The prices of raw materials and the final manufacturing PMI of S&P global are the following on the agenda in Australia.
WTI prices remained depressed and around the mark of $ 65.00 per barrel after the mitigation of geopolitical concerns.
Gold prices increased due to greater weakness in the US dollar, exceeding the key of $ 3,300 per Troy ounce. The silver prices advanced modestly, exceeding the key of 36.00 per ounce.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
