What to know on Monday June 14:
The dollar rose on Friday, to end the week with gains against all of its major rivals. however, no critical threshold has been crossed. Demand for the US dollar was supported by strong US data, which points to an ongoing economic recovery, with the Michigan Consumer Sentiment Index preliminary estimate jumping to 86.4 in June from 82.9 previously . The gains could also be attributed to position adjustments ahead of the US Federal Reserve’s monetary policy meeting next Wednesday.
Australia and China celebrate public holidays on Mondays, which means transaction volumes will be reduced.
EUR / USD has settled just above the 1.2100 level and is likely to fall further after the ECB offered a bullish but cautious stance.
The GBP / USD is hovering around 1.4100, and it is also likely to extend its decline, mainly after the weekend news, indicating an increase in nervousness over Brexit and the coronavirus. British Prime Minister Boris Johnson expressed “Serious concern” about the spread of the variant of the coronavirus Delta On Saturday, as the G7 summit saw EU leaders push UK Johnson to fully implement the Brexit Withdrawal Agreement. Tensions persist over Britain’s desire to change the protocol that imposed controls on British goods entering Northern Ireland.
AUD / USD is trading around 0.7700, holding familiar levels although at the lower end of its weekly range. The USD / CAD surged into the 1.2180 price zone, settling nearby.
Gold prices were under pressure, with the spot ending the week at $ 1,877 per troy ounce. Crude oil prices held on to their gains, with WTI settling at $ 70.77 per barrel.
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