Major pairs are waiting for a new catalyst

This is what you need to know to trade on Tuesday, June 29:

Major pairs remained confined to narrow intraday ranges. The greenback managed to handle a modest intraday advance, helped by a bitter mood in the market.

European indices closed in the red, while US stocks were mixed. The Nasdaq Composite continued to rally, ending the day with substantial gains and record highs.

EUR / USD fell to 1.1902, its lowest level in 5 days, but ended the day at the 1.1920 zone. Robert Holzmann, del BCE, He said there is no room to raise rates given weak inflation, adding that the PEPP will end when the coronavirus emergency ends, something that will not happen anytime soon. The facilities program will be reviewed in September.

GBP / USD failed to regain the 1.3900 mark and is trading around 1.3870. After Matt Hancock resigned over the weekend, Sajid Javid is the new UK Health Minister. Javid claimed that coronavirus-related restrictions would be lifted on July 19, as the government sees “no reason to go beyond” that date. Meanwhile, the UK reported 22,868 new coronavirus cases, the biggest one-day increase in five months, amid the spread of the Delta variant.

Commodity-linked currencies lost some ground to the dollar. Gold prices continued to consolidate around $ 1,780, but oil prices fell. The WTI settled at $ 72.90 a barrel.

US Treasury yields advanced during European trading hours, but fell back before the Wall Street open, ending the day with modest losses.

This week the focus will be on employment figures in the United Statesand announcements related to the US government’s infrastructure investment program