
USD’s rally takes a pause, while riskier assets are modestly rising.
Great Britain will publish its trade balance on June 12, at 09:00 MT time.
Instruments to trade: GBP/USD, GBP/JPY, GBP/CHF
The balance of trade is the difference between imported and exported during the previous month. When the number is positive, that means that more goods were exported than imported. As a result, a higher indicator is better for domestic currency.
The last release showed a bigger level of imports than in April. The balance of trade reached -6.7 billion pounds. One of the reasons behind this fact is the lockdown in the UK.
USD’s rally takes a pause, while riskier assets are modestly rising.
Poor US data, slow vaccine distribution, rising virus cases worsened the market sentiment and underpinned safe-haven currencies like the USD, and JPY.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!
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