The Japanese yen is in the spotlight again today, with USD/JPY inching up by 0.4% to 158.65 currently. I outlined more on that here with US retail sales data one to watch later in the day. Besides that, the aussie and kiwi are just a touch softer owing to a bit of a spillover from a softer Chinese yuan.
In other markets, gold is eyeing fresh record highs while equities continue to pull higher despite some late selling in Wall Street overnight.
It’s all still to play for in trading this week as Fed chair Powell failed to offer up anything new yesterday. Well, not that it was unexpected anyway. It doesn’t seem like they will surprise to tee up a July rate cut, at least not before the FOMC blackout period.
Looking to the day ahead, the US retail sales data will be the main event. As such, European morning trade will feature a less important agenda for broader markets.
0800 GMT – Italy June final CPI figures0900 GMT – Eurozone May trade balance data0900 GMT – Germany July ZEW survey current conditions, economic sentiment
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.
On this day in 1969, NASA launched Apollo 11 – the first manned mission to land on the moon.
This article was written by Justin Low at www.forexlive.com.
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