Share:

What you need to know on Monday, June 21:

The greenback kept rallying on Friday, posting its best weekly performance for this year. The advance was an extension of the post-Fed rally, as the US central bank catch investors off guard by bringing forward chances of rate hikes to 2023.

Stocks fell in Europe and the US, weighing on high-yielding currencies. The dollar run despite US government bond yields continued to retreat from post-Fed highs. The yield on the 10-year US Treasury note closed the week at 1.44%.

The EUR/USD par settled at 1.1860, while GBP/USD trades around 1.3800, both at their lowest in two months. ECB’s President Christine Lagarde is set to speak this Monday and could refer to monetary policy. The European Central Bank is not expected to change its ultra-loose monetary policy.

The sour tone of the UK currency was also backed by coronavirus-related concerns amid the exponential growth of new contagions related to the Delta variant, which may delay further easing lockdown measures.

AUD/USD plunged to fresh 2021 lows. The sour tone of equities and falling gold prices weighed on the pair.The bright metal fell to 1,760.87 a troy ounce, its lowest in almost two months.

USD/CAD settled at 1.2470, led by dollar’s demand and falling equities. Crude oil prices retreated modestly, with WTI ending the week at $71.00 a barrel.

Dogecoin Price Prediction: DOGE eyes $0.1950 if key 100-DMA support caves in


Like this article? Help us with some feedback by answering this survey:

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content


Follow us on Telegram

Stay updated of all the news

Join Telegram

Recommended content

Editors’ Picks

EUR/USD stays below 1.0900 as Q1 comes to an end

EUR/USD stays below 1.0900 as Q1 comes to an end

EUR/USD has lost its traction and declined below 1.0900 in the American session on Friday. Quarter-end flows seem to be allowing the US Dollar find some demand but the risk-positive market environment seems to be limiting the pair's downside ahead of the weekend.

EUR/USD News

GBP/USD trades below 1.2400, looks to post weekly gains

GBP/USD trades below 1.2400, looks to post weekly gains

 

GBP/USD has edged lower after having tested 1.2400 earlier in the day but remains on track to end the third straight week in positive territory. The upbeat mood remains intact after soft PCE inflation data from the US, making it difficult for the US Dollar to continue to gather strength.

GBP/USD News

Gold tries to stabilize near $1,980 following earlier spike

Gold tries to stabilize near $1,980 following earlier spike

Gold price has returned to the $1,980 area following a spike above $1,987 with the initial reaction to lower-than-expected PCE inflation figures from the US. Meanwhile, the benchmark 10-year US Treasury bond yield stays in the red near 3.5%, providing support to XAU/USD.

Gold News

Will Dogecoin price pull an XRP and rally 60% next week?

Will Dogecoin price pull an XRP and rally 60% next week?

Dogecoin price has been in a tight range bound movement since November 22. The recent recovery above the range low looks promising and hints at an explosive move for next week.

Read more

Week ahead – Nonfarm payrolls to set the tone for US dollar

Week ahead – Nonfarm payrolls to set the tone for US dollar

With the banking turmoil receding, market participants will turn their attention back to economic releases. The spotlight will fall on the US employment report.

Read more

Forex MAJORS

Cryptocurrencies

Signatures