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Hello everyone, today Avatrade Aihua Foreign Exchange will bring you "[Avatradescn Official Website]: The US dollar rose slightly and other CPIs, and the Sino-US negotiations will shake a strong hand! Market optimism spreads." Hope it will be helpful to you! The original content is as follows:
The US dollar (USD) remained flexible against other currencies during Tuesday's European session. Investors avoid holding large positions while awaiting the outcome of the U.S.-China trade negotiations, which will continue in London later that day. The NFIB optimistic index for May will be the only data in the U.S. economic calendar.
Trading activity in financial markets remained relatively sluggish at the beginning of the week without a significant impact on the release of data. The major Wall Street index closed slightly higher on Monday, while the US dollar index fell slightly. In early European session Tuesday, the U.S. dollar index was slightly above 99.00, while U.S. stock index futures were barely changing that day.
The ILO unemployment rate rose from 4.5% to 4.6% in the three months to April, data released by the United Kingdom’s Office for National Statistics (ONS) earlier Tuesday showed, as expected. During this period, annual wage inflation, measured as changes in average income excluding bonuses, fell from 5.5% to 5.2%. Finally, the employment change was 89K, www.avaforexcn.compared with 112K before. GBP/USD remained sluggish, trading below 1.3550.
Basic foreign exchange market trends:
After the closing of the first trading day of the week, the euro/dollar fluctuated narrowly around 1.1400 in the early trading session on Thursday. Chinese Vice President Han Zheng said on Tuesday that the Chinese government is willing to cooperate with the EU to further expand the scope of cooperation and promote new development of China-EU relations. Later this trading day, Sentix6Investor confidence data for the month will appear on the European Economic List.
BoJ Governor Kazuo Ueda reiterated on Tuesday that they would raise interest rates if they had enough confidence to believe that the basic inflation rate was close to 2% or fluctuated around 2%. After Monday's fluctuation, the USD/JPY struggled to find direction in the early trading on Tuesday, trading around 144.50.
Australia/USD fluctuated narrowly above 0.6500 in the early European session. Westpac consumer confidence index fell from 2.2% in May to 0.5% in June, Australian data showed.
Bulle market fundamentals:
Gold price is difficult to take advantage of its slight rebound from around $3,300 in the session and remained below the overnight swing high in the first half of Tuesday's European session
Analysis of major currency trends:
Euro: Euro/USD range trading continues, and intraday bias remains neutral. Price trends starting from 1.1572 are considered as a correction pattern to rebound from 1.0716. While a rebound from 1.1064 may be expanded, 1.1572 should see strong resistance to limit upside potential. On the downside, breaking through the 1.1356 support will indicate that the correction is already in the third stage and aiming at the 1.1209 support for confirmation.
The above content is about "[Ava Aihua Foreign Exchange Official Website]: The US dollar rises slightly and so on CPI, the Sino-US negotiations will shake a strong hand! Market optimism spreads" is carefully www.avaforexcn.compiled and edited by Aihua Avatrade Foreign Exchange Editor. I hope to trade for yourHelpful! Thanks for the support!
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