Australian Dollar Eyes BRICS Summit After Mixed PMI Data
The Australian Dollar fell alongside US equities overnight after Fed Chair Jerome Powell’s commentary before Congress spooked the market. The 2022 BRICS Summit is in focus for APAC traders.
The Australian Dollar fell alongside US equities overnight after Fed Chair Jerome Powell’s commentary before Congress spooked the market. The 2022 BRICS Summit is in focus for APAC traders.
S&P 500 declines on Monday after a strong upswing last week, but end-of-quarter rebalancing activity by pension and mutual funds could trigger a stock market rally in the coming days.
Failure to push above the 50-Day SMA (0.6429) may lead NZD/USD to a test of the June 2020 low (0.6185) as the indicator continues to reflect a negative slope.
The final week of June will have central banks, inflation data, and supply chains in focus.
GBP/USD has lacked directional conviction and has moved within a well-defined range in recent days, but a breakout could be just around the corner, paving the way for big moves.
Hope Grows That Inflation is Peaking, Can a Recession be Avoided?
U.S. Durable Goods Orders for May bolstered the dollar after a slow start to the trading week.
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AUD/USD is looking for its third straight day of gains after constructive Chinese industrial profits while Australian-linked commodities look higher.
The British Pound looks fairly rudderless as we start the week with little economic data of note to provide direction. All eyes, as always, are on the greenback.