The aussie is the main mover so far today, pushing higher after hotter May inflation numbers here. That is reigniting talks of an RBA rate cut heading into August, with the Q2 CPI report at the end of July going to be a big one to watch. Besides that, major currencies are mostly little changed with the dollar keeping steadier on the week.
Of note, USD/JPY continues to hover just below the 160.00 threshold while EUR/USD is sticking close to 1.0700 still.
Looking to the session ahead, there won’t be much to shake up the market mood as a whole. We will have German GfK consumer sentiment for July and French consumer confidence for June. Both aren’t any real market movers, so we might be in for a quieter one.
That said, just be wary that month-end and quarter-end flows could factor more into the picture in the sessions ahead.
0600 GMT – Germany July GfK consumer sentiment
0645 GMT – France June consumer confidence
0800 GMT – Switzerland June UBS investor sentiment
1000 GMT – UK June CBI retailing reported sales
1100 GMT – US MBA mortgage applications w.e. 21 June
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.