Forex Today: Markets’ attention crosses the Channel
|The FX universe traded in a flattish mood on Tuesday, while investors remained mainly focused on the timing of Fed rate cuts. Next of note will be the release of UK inflation data ahead of the BoE gathering, while flash PMIs will close the week.
Here is what you need to know on Wednesday, June 19:
The USD Index (DXY) alternated gains with losses around 105.30 amidst declining yields across the curve. The NAHB Housing Market Index will be only due on June 19.
EUR/USD could not sustain an early uptick to 1.0760, receding to the 1.0730 region as the US session drew to a close. On June 19, EMU’s Current Account and Construction Output will be published.
GBP/USD traded in a vacillating fashion and ended barely changing just above the 1.2700 barrier. The release of the UK Inflation Rate takes centre stage on June 19.
USD/JPY kept the constructive view unchanged, although a close above 158.00 remained elusive. The Reuters Tankan Index, Balance of Trade results and the BoJ Minutes are all due on June 19.
AUD/USD regained composure and partially faded three consecutive sessions of losses. The Australian calendar is empty on June 19.
WTI prices added to the ongoing uptrend and advanced to seven-week highs near the $81.00 mark per barrel.
Gold prices maintained their consolidative range intact around the $2,330 region per troy ounce on the back of weak yields and the lack of direction in the Dollar. Silver charted humble gains, although it remained below the key $30.00 mark per ounce.
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