This is what you need to know to trade today Monday June 27:
The dollar index remains relatively calm near 104.00 in the early hours of Monday, after closing the previous week slightly lower. US stock index futures are trading flat on the day as attention turns to May’s durable goods orders data. Pending home sales and the June Dallas Fed manufacturing survey will also feature on the US economic docket. The European Central Bank (ECB) Forum on Central Banking will kick off later in the day, with ECB President Christine Lagarde delivering the keynote address at 1830 GMT.
San Francisco Fed President Mary Daly has signaled her willingness to support another 75 basis point rate hike in July. Before the weekend, the president of the Federal Reserve of San Luis, James Bullard, reiterated that it is necessary to continue bringing forward the rate hikes to control inflation. Supported by recent hawk comments, the 10-year US Treasury yield is up almost 1% on the day to 3.16%.
Meanwhile, the The International Monetary Fund (IMF) said in its annual assessment that the US economic growth expectation was revised down to 2.9% by 2022 from 3.7% of the April forecast. Based on the median projection for the policy rate released at the June FOMC meeting, we expect the US economy to slow in 2022-23, but narrowly avoiding a recession. your post.
The EUR/USD is holding on to small daily gains and fluctuating above 1.0550 early on Monday. The pair gained almost 100 pips last week.
The GBP/USD continues to trade up and down in a tight channel below 1.2300 for the fourth day in a row. Later, members of parliament will vote on proposed legislation to give ministers the power to scrap parts of the post-Brexit deal. The European Union warned that it would be a breach of international law if the UK took unilateral action on the post-Brexit deal.
The pair USD/JPY moves sideways near 135.00 at the start of the new week. The Bank of Japan (BOJ) June meeting summary of views showed that the bank will maintain its accommodative policy while keeping an eye on the markets.
The Prayed It is trading in the upper half of its consolidation channel above $1,830. Over the weekend, four G7 members decided to ban Russian gold imports to tighten sanctions on Moscow.
The Bitcoin It trades above $21,000 in European morning. ethereum it is up nearly 2% on the day near $1,200.
Source: Fx Street
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