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Market View

Market Recap – Risk-on mode continues

Tuesday, June 11, 2019 10:36 AM GMT

As we are heading towards the upcoming G-20 meeting scheduled for the 28th and 29th of June, and the race for the leadership of the UK Conservatives’ party, markets seem to be on a risk-on mode.

US government yields increased, gold prices decreased and equities kept their yesterday’s earnings and headed north. Nikkei, the Australian index, the Chinese index, Dax, FTSE100, Dow Jones and S&P 500 continue their uptrend today.

The USDCNY reacted at the 6.96 level, but both the Aussie and NZDUSD have not followed suit and headed south.

Macro releases: Yesterday the UK’s GDP m/m release was disappointing. Today the focus turns to the European Sentix Investor Confidence release, and the US PPI m/m index that is set to confirm that there is no inflationary pressure in the US economy, favoring the scenario of a rate cut on July.

 

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