Five things traders need to know today US stocks ended th | FOREX/GOLD

Five things traders need to know today


US stocks ended the week higher, helped by Biden’s $1.2 trillion infrastructure deal and dovish Fed comments. June core PCE came in line with expectation with +3.4% YoY, the highest since 1992. European and Asian indices also gained on the week.


Gold corrected higher to $1781.04 after a three-week selloff. WTI crude (SpotCrude) extended its rally to $74.28 and Brent was above $76. OPEC+ is set to meet this Thursday. Bitcoin was above $32,000.


The US dollar index (USDX) eased back to 91.76, while the yield on 10-year Treasuries jumped above 1.50%. All G10 currencies increased against the dollar last week except the Japanese yen, with USDJPY closing higher at 110.77.


EUR recovered to 1.1936 last week amid the USD consolidation, sitting below the 200-day SMA. GBP ended the week higher at 1.3881, with the BoE keeping rate and bond purchasing program unchanged. UK and Eurozone PMIs are due out this Thursday.


Commodity currencies outperformed last week amid the risk-on environment. AUD +1.53% at 0.7593 while NZD +2% at 0.7068, with both pairs recording a five-day winning streak. CAD resumed the strength to 1.2298.

Credit-Pepperstone