The dollar continues to keep somewhat steady so far this week as there isn’t much appetite all around in markets. It is a sort of extended holiday in the US since the weekend, with today being Independence Day (there was early market closure yesterday).
The lack of direction looks set to carry over to Europe now, with major currencies mostly little changed. The aussie is down slightly after the RBA decision here, as the central bank hit pause and left the cash rate unchanged. Besides that, equities are tentative and other dollar pairs are tightly bound as we look to the session ahead.
In terms of data, there won’t be much to really move things along and/or impact markets. As such, we could be in for more of a quiet one in trading today.
0600 GMT – Germany May trade balance data
That’s all for the session ahead. I wish you all the best of days to come and good luck with your trading! Stay safe out there.