The dollar is keeping somewhat steadier so far, helped out by a bounce in USD/JPY after BOJ governor Ueda played down expectations of a policy tweak later this month. The pair is now trading back above 139.00 as we see some quarters of the market get a little disappointed. Here is some context if you need it:
Meanwhile, equities continue to go on a tear with tech stocks also keeping more buoyed. The AI boom run continues to gather pace and we might be angling for a strong breakout in the bigger picture for this year.
Elsewhere, a weaker Chinese yuan continues to put a dent on the aussie and kiwi in trading today. AUD/USD is down another 0.4% to 0.6785 as the rejection near 0.6900 continues to hold for now.
Looking ahead to Europe today, inflation is back on the menu but the focus will be on the UK CPI data as noted here. The Eurozone reading will be the final estimate, so that shouldn’t be of much impact.
0600 GMT – UK June CPI figures
0900 GMT – Eurozone June final CPI figures
1100 GMT – US MBA mortgage applications w.e. 14 July
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.
Source: https://www.forexlive.com/news/inflation-the-main-focus-in-european-trading-today-20230719/
