Tuesday, June 26:

The stock market on Wall Street experienced a decline on Monday, with the Nasdaq falling 1.16%. Treasury yields also decreased. The US Dollar Index saw a modest drop, closing at around 102.75, resulting in a quiet day for currencies. Investors are eagerly awaiting new data and speeches from central bankers participating in the European Central Bank (ECB) forum.

The EUR/USD pair remained relatively stable near 1.0900, moving away from Friday’s low. There were no clear indications of any significant changes. The German Ifo survey declined more than anticipated. The focus on Tuesday will be on ECB speakers at the Sintra conference. On Wednesday, Lagarde will be part of a policy panel alongside Bailey, Powell, and Ueda.

The Pound continued to lag on Monday, still affected by developments from the previous week. GBP/USD managed to stay above recent lows and finished slightly above 1.2700. Bank of England’s Tenreyro is scheduled to speak on Tuesday.

USD/JPY experienced a modest retreat from multi-month highs due to cautious market sentiment and lower US yields but remained above 143.00.

AUD/USD traded sideways around 0.6675 on Monday, consolidating losses from the previous week. The focus regarding data shifts to Wednesday with the release of Australia’s Consumer Price Index for May ahead of the Reserve Bank of Australia (RBA) meeting next week.

NZD/USD rebounded from the 20-day Simple Moving Average (SMA) and climbed above 0.6150. New Zealand Prime Minister Hipkins is currently on a state visit to China.

Gold prices reached a peak at $1,937 and then retraced towards $1,920. Meanwhile, silver increased by 1.50% and approached $23.00.