Welcome to Tuesday!
Market updates on June 27
- According to the fresh press of Hong Kong, the US and China agreed to have a temporary trade truce ahead of the Trump-Xi meeting on Saturday. The Australian dollar rose on the improved risk-on sentiment. On H4, AUD/USD has been trading within the upward channel. The next resistance in the focus of bulls will lie at 0.7006. After the breakout, pay attention to the 0.7022 level. From the downside, the support levels lie at 0.6987 and 0.6966.
- During the Asian trading session, the level of ANZ business confidence fell to -38.1. The New Zealand dollar reacted negatively to this news but managed to recover. At the moment, NZD/USD is consolidating between the 0.6692 and 0.6675 levels on H4. If bearish pressure increases, the break of the 0.6675 level will help bears to target the next one at 0.6655. The next key level will lie at 0.6626. From the upside, if the resistance at 0.6692 is broken, the next resistance will lie at 0.6728.
- The EUR/USD pair is awaiting the release of final GDP for the US at 15:30 MT. If the USD is not supported today, the levels in focus will be placed at 1.1375, 1.1387 and 1.1402. Otherwise, the support levels for the pair are 1.1353, 1.1344 and 1.1335.
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
On Tuesday, gold rallied because uncertainty over the latest developments in Britain’s departure from the EU backed safe haven demand and traders looked ahead for American inflation data to underpin the Fed’s pledge to remain on hold…