Five things traders need to know today US stocks recovered on | Entity Fx™

Five things traders need to know today

US stocks recovered on the improving economic data and Boeing’s certification flight testing despite the resurgent virus. The US pending home sales posted a record gain in May at 44.3% MoM. S&P 500 closed +1.47%. Nasdaq +1.2%. European benchmarks increased.

The US dollar index (USDX) was little changed at 97.41, while the yield on 10-year Treasuries decreased to 0.62%. USDJPY continued the rally and surged past 107.50.

EUR rose to 1.1242 on the upbeat Germany CPI figures. GBP dipped to a June low of 1.2297, sitting far below the 5-day EMA. The UK PM is set to announce a Big Plan for post-pandemic investment in infrastructure and skills.

AUD climbed to 0.6866. Australian PM Scott Morrison favoured the further reopening of economies. NZD increased to 0.6418. CNH strengthened to 7.0765 ahead of the PMI report. China is set to approve the Hong Kong Security Law today.

Gold closed higher at $1772, with the 5-day EMA offering support. The US has suspended some exports of sensitive technology to Hong Kong, while China imposed a visa ban on some US citizens. WTI crude (XTIUSD) increased to $39.47.