27 June Economic News

The Australian Dollar saw an increase in value due to the weakening of the US Dollar and positive economic prospects for China. This resulted in a rise in the AUD/USD exchange rate, which was fueled by a delay in expected interest rate cuts by the Federal Reserve and inconsistent Treasury yields. If China continues to make efforts to stimulate economic growth, there is potential for further growth in the AUD/USD exchange rate.
The GBP/USD price is expected to reach recent highs as central bankers gather for the ECB Forum in Sintra. Despite this, Cable remains stable above 1.27 and market unrest is unlikely due to hawkish central banks.
In response to inflation, the UK government has demonstrated a willingness to retract proposed tax cuts and public sector wage increases.
The Copper, Nikkei 225, and EUR/GBP Wall Street markets have had a lackluster start due to moderation of overbought technical conditions and extreme bullish sentiments.
Downgrades in technology stocks have led some market participants to rotate into value sectors such as real estate and energy.
Increased hedging activities on renewed caution have caused the VIX to be up by 6%.
European Central Bank (ECB) President Christine Lagarde will make comments today, while China’s PMI data will be released this week