This is what you need to know to trade today tuesday july 11:
The US dollar (USD) started the week on a bullish note, but came under selling pressure in the American session to close in negative territory on Monday. The Dollar continues to weaken against its rivals amid improving risk sentiment early Tuesday, with the US Dollar Index (DXY) dipping to its lowest level in two months below 102.00. The ZEW survey for the Eurozone and Germany will be published in the European economic agenda before the NFIB business confidence index data and the IBD/TIPP of economic optimism in the United States. Market participants will continue to watch for comments from central bankers.
After a mixed open on Monday, Wall Street’s main indexes posted modest daily gains. In the European morning, US stock index futures are up between 0.2% and 0.3%. Meanwhile, the 10-year US Treasury yield is already down almost 1% on the day, below 4%.
The Federal Reserve Bank of New York’s monthly survey of consumer expectations showed on Monday that US consumers’ one-year inflation expectations fell to the lowest level since April 2021, standing at 3.8%. in June from 4.1% in May.
He EUR/USD it hit its highest level since early May on Tuesday, above 1.1000. Data from Germany showed the annual Consumer Price Index (CPI) rose 6.8% in June, matching the preliminary estimate and market expectations.
He GBP/USD it stood above 1.2900 for the first time since April 2022 on Tuesday. The UK’s Office for National Statistics announced on Tuesday that annual wage inflation, measured by average earnings excluding bonus, held steady at 7.3% in three months to May, beating the market expectation of 7.1%. The ILO unemployment rate rose to 4% from 3.8% in the same period.
He USD/JPY It remains under downward pressure and is trading at its lowest level in three weeks at around 140.50.
Driven by the decline in US yields, the price of Gold it advanced towards $1,940 during Asian trading hours and touched its highest level since June 20. During the European morning, XAU/USD suffered a downward correction, but managed to hold above $1,930.
He NZD/USD It is trading in a narrow channel around 0.6200 early on Tuesday. In the Asian session on Wednesday, the Reserve Bank of New Zealand (RBNZ) will announce monetary policy decisions. The RBNZ is expected to keep the key interest rate unchanged at 5.5%.
He Bitcoin posted small daily gains on Monday after finding support at $30,000. BTC/USD is holding steady near $30,500 on Tuesday. He ethereum It was up nearly 1% on Monday and continues to rally towards $1,900 during European morning trading.
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.
