Brent crude oil prices trade slightly higher
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European shares opened slightly higher this morning and extended gains during the session, supported by a mild risk‐on sentiment ahead of the Brexit referendum. Also US equities opened with limited gains.
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The ECB is expected to reinstate Greek banks' access to its cheap funding operations today, Reuters reports, allowing lenders to come off an expensive emergency lifeline after more than a year as a reward for painful economic reforms.
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Fed's Powell said a UK vote to leave the EU could tighten financial conditions and have an economic effect that would also be felt in the US. He added that the dip in US job creation in April and May has gotten his attention and the right thing to do is to wait and see how much momentum there really is in the economy.
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Following a significant improvement in May, European Commission's consumer confidence weakened slightly in June, falling from ‐7.0 to ‐7.3, while a stabilization was expected.
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Brent crude oil prices trade slightly higher, hovering currently around $51/barrel after better than expected API inventory data and supported by generally upbeat sentiment ahead of the British EU referendum. Gold trades slightly lower, for a third consecutive session.
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Fed Chairwomen Yellen speaks before the House Financial Services Panel, which will be followed by a Q&A session.
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