Looking for elaboration on potential timeline for tapering in FOMC minutes – TDS

Eren Sengezer FXStreet

Previewing the FOMC's June meeting minutes, which will be published on July 7, "we will be looking for elaboration on the potential timeline for tapering after the relatively hawkish dot plot and press conference," said TD Securities analysts.

Key quotes

"What will constitute "substantial further progress"? What is meant by "we will provide advance notice before announcing any decision"? We don't expect any definitive signals, however; no such signals have come from the latest Fedspeak."

"The services index probably fell, consistent with the boosts to growth from fiscal stimulus and "reopening" starting to fade. Some fading is already evident in the manufacturing ISM index, which is down to 60.6 (in June) from a high of 64.7 (in March). Of course, even 60.6 implies booming growth. The 64.0 reading for services in May was an all-time high, with data back to 1997."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

AUD/USD hits three-week highs past 0.7000

Finally, AUD/USD has managed to reclaim the key 0.7000 yardstick on Tuesday. Indeed, the pair clinched its third day in a row of gains, following the persistent correction in the Greenback amid the generalised improvement in the risk-linked galaxy.

USD/JPY flatlines near 158.50 as markets seek direction

USD/JPY steadies around 158.50 in the Asian trading hours on Tuesday. Traders prefer to wait on the sidelines ahead of Japan’s National Consumer Price Index inflation data later on Friday. Meanwhile, elevated US bond yields provide some support to the US Dollar against the Japanese Yen.

Gold just failed at $4,150. This is the next stop

Gold prices trade without a clear direction on Tuesday, hovering around the $4,170 region per troy ounce and still struggling to regain upside traction following Monday’s pullback. In the meantime, lower US Treasury yields and a marked pullback in the US Dollar come in tandem with the yellow metal’s price action.

Dogecoin Price Forecast: DOGE struggles below key moving average resistance

Dogecoin (DOGE) is trading marginally above $0.0800 on Tuesday, up 1% on the day, against lows around $0.0785. The meme coin is cautiously navigating a broader lethargic cryptocurrency market where Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) are struggling to gain momentum.

Markets at a turning point: Bitcoin, Gold, FX and Tech react to a heavy macro week

The new trading week opens with a mixed but revealing picture across global markets. Indices, commodities, FX, tech stocks, and cryptocurrencies are all sending one message: risk appetite is alive, but it is cautious, selective, and highly sensitive to macro signals.

The US Dollar fell. Gold didn't rally. That tells you everything

Gold (XAU/USD) is struggling to capitalize on a weaker US Dollar (USD), after repeatedly failing to establish itself above the $4,200 level. The precious metal remains confined to a relatively narrow trading range despite a combination of developments that would normally support higher prices.