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31FX Blog

Economic Data This Week: June 29 – July 3

31FX – Markets are attempting to shrug off growing concerns about the spread of coronavirus, especially in the US. Here’s what else you need to know in the economy today.

Forex Update

EUR/USD

EUR/USD is edging up ahead of preliminary inflation figures from the eurozone for June. 

GBP/USD

GBP/USD is attempting to move toward 1.24 ahead of Prime Minister Boris Johnson’s speech on the economy this week. 

BREXIT TALKS

Brexit talks resume on Monday in the new “intensive phase” after four inconclusive rounds about future EU-UK relations.

AUD/USD

AUD/USD is still trading below 0.69 amid a resurgence in cases in Victoria state, the most populous and the one that slapped the harshest lockdown.

USD/JPY

USD/JPY is trading around 107, as Tokyo reported 60 cases, the highest in over a month, and as the transmission could not be determined. 

COMMODITIES

GOLD

Gold is holding onto the high ground around 1,770. 

OIL

WTI Oll is retreating from its previous gains and trades around $37.

Cryptocurrencies are relatively stable after edging lower beforehand, with Bitcoin hovering around $9,100.

US Pending Home Sales for May are forecast to show a substantial rebound after falling by 21.8% in 18.9%. 

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