The US Dollar recouped part of the ground lost following Monday’s negative session along with a decent bounce in US yields, while expectations for a Fed rate cut in September and December remained in place among investors.
Here is what you need to know on Wednesday, June 26: The USD Index left behind Monday’s pullback and rose to the 105.80 region, accompanied by a humble rebound in US yields, while disappointing Consumer Confidence readings propped up rate-cut bets. On June 26, MBA will report on the usual weekly Mortgage Applications ahead of New Home Sales. EUR/USD resumed its downward impulse and revisited the sub-1.0700 region against the backdrop of a decent move higher in the Greenback.
USD/JPY traded just below the 160.00 level amidst persistent concerns surrounding the likelihood of FX intervention. The Japanese docket will be empty on June 26. AUD/USD set aside Monday’s bull run and revisited the 0.6630–0.6640 band amidst the US Dollar’s gains. In Oz, Westpac’s Leading Index is due on June 26, prior to the RBA’s Monthly CPI Indicator and the speech by the RBA’s L. Kent. WTI prices corrected slightly lower after hitting new monthly highs just below the $82.
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