Here is what you need to know on Tuesday, June 29:
The market mood remains upbeat and calm as fears of inflation make way to some hope that the Delta variant has a limited impact on vaccinated countries. US consumer confidence and housing figures are eyed. Cryptocurrencies get a boost from Cathie Wood.
The dollar has been extending its gains alongside a minor increase in US Treasury yields. Concerns about higher US inflation after the Federal Reserve's preferred measure of price rises only met expectations. Core PCE hit 3.4% YoY in May.
The Delta COVID-19 variant continues spreading quickly in the UK, Australia, and also other places, but investors find solace in the relatively limited increase in hospitalizations and deaths. Moreover, a new study has shown that mixing the Pfizer and AstraZeneca vaccines is proving efficient.
EUR/USD is hovering around 1.19 ahead of a speech by Christine Lagarde, President of the European Central Ban, and her hawkish colleague Jens Weidmann of the Bundesbank. Germany and Spain publish preliminary inflation figures for June later in the day.
GBP/USD is trading below 1.39 as the new Health Secretary Sajid Javid seems confident that England will remove restrictions on July 19 as planned. The UK reported over 22,000 covid cases on Monday, the highest since January, yet hospitals remain calm.
Fed member Thomas Barkin speaks later in the day and may provide more insights on close the bank is to tapering bond buys. The S&P/Case Shiller Compositive House Price Index and the Conference Board's Consumer Confidence figures for June are eyed.
Cryptocurrencies: Renowned investor Cathie Wood announced the launch of a Bitcoin Exchange Traded Fund (ETF), giving a boost to all digital assets. BTC/USD is hovering around $35,000.
Gold is trading below $1,780 and WTI Crude Oil at around $72 in a steady trade. Markets await Friday's Nonfarm Payrolls.
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.