The dollar recovered a strong downward traction and fell to a minimum of four days in response to the DOVISH comments of the Fed and despite the solid demand for safe refuge in the face of the deterioration of the geopolitical landscape in the Middle East. Meanwhile, investors prepare for the semiannual testimonies of President Powell and the publication of the always relevant consumer confidence in the US.
This is what you have to observe on Tuesday, June 24:
The US dollar index (DXY) retreated for the third consecutive day, falling to the 98.40 zone in the middle of a generalized setback in US yields. President Powell will testify to the Financial Services Committee of the US House of Representatives, seconded by speeches of Hammack, Collins and Barr. On the agenda, the Conference Board Conference Conference Index will be at the Center for Attention, followed by the FHFA Housing Price Index, the Richmond Fed Manufacturing Index and the API weekly report on crude oil reserves in the US.
The EUR/USD advanced to four days in the midst of an intense feeling of risk aversion and a renewed weakness in the dollar. The IFO business climate of Germany will be the most prominent event in the national calendar, along with the speeches of De Guindos, Lagarde and Lane del ECB.
The GBP/USD fell to a minimum of three weeks about 1,3370 before registering a strong rebound at maximum of several days about 1,3530, driven by the resurgence of the strong seller bias in the US dollar. The Industrial Trends Index of the CBI is expected, seconded by speeches of Bailey, Ramsden, Greene and Breeden of the BOE.
The USD/JPY rose sharply and reached new six -week maximums just above the 148.00 barrier, only to fall and stabilize about 146.00 after the pronounced setback in the dollar. The summary of Boj’s opinions is expected, before the final figures of the coincident and advanced economic indexes. In addition, Boj tamura is scheduled to speak.
The Aud/USD reversed an initial fall to the region below 0.6400 and managed to test the 0.6450 area towards the end of the day. The next thing in Australia will be the publication of the monthly indicator of the RBA CPI on June 25.
The WTI prices collapsed more than 7% and backed down the neighborhood of the $ 68.00 brand per barrel after Iranian retaliation attacks pointed to US military bases in the EAU.
The gold maintains its bullish bias on Monday, quoting at an audible distance from the key of $ 3,400 per Troy ounce, driven by the increase in geopolitical tensions after Iran’s attack on US military bases in the region. Silver prices alternated profits and losses in low $ 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.
