Forecasts & Analysis | Currencies

The British pound went back and forth during the trading session on Tuesday as we await some type of catalyst for risk appetite in general.

The Euro has tried to rally a bit during the trading session on Tuesday but then gave back quite a bit of negativity to drip down towards the 1.12 level.

The Australian dollar has gone back and forth on Tuesday as we continue to see a lot of choppiness in a market that has recently been overbought.

The gains in US equities yesterday carried into Asia Pacific trading today, but the European investors did not get the memo. The Dow Jones Stoxx 600 is succumbing to selling pressure and giving back yesterday’s gain.

In a similar pattern as last Wednesday/Thursday we’ve seen the US trading session play the role reverse of the prior day’s antics.

It looks set to be another decent month for markets in Europe, with the DAX set to close higher for the third month in a row, and while it won’t be enough to reverse the losses that we saw in Q1,

Stocks are in the red this morning as a mixture of health concerns and political tensions are weighing on sentiment. The Covid-19 crisis is still hanging over the markets, especially now that some US states are pausing or reversing the reopening of their economies.

Hopes faded at the end of the European session and the beginning of the American one, when the DAX and SP500 surged back inside the triangle.

The British pound declined into negative territory for June yesterday and is holding near lows after GDP figures fell short of expectations.

A rally in EUR/USD in the early week was brief as the pair has turned lower to probe support at the 1.1200 level.