Dollar keeps a touch lower so far in European morning tradeIran's Supreme Leader Khamenei: Israel made a huge mistake and will be punished for thatFormer Iran Economy Minister calls for control over the Strait of Hormuz for 100 daysWhat is expected for the FOMC decision?ECB's Centeno says very worried about growth in EuropeECB's Panetta: ECB to Stay Flexible, Decide Meeting by MeetingUK May CPI +3.4% vs +3.4% y/y expectedEurozone May final CPI +1.9% vs +1.9% y/y prelimUS MBA mortgage applications w.e. 13 June -2.6% vs +12.5% prior"Long gold" remains the most crowded trade for the third month in a row
Markets:
AUD leads, CHF lags on the dayEuropean equities lower; S&P 500 futures up 0.1%US 10-year yields down 1.8 bps to 4.373%Gold down 0.1% to $3,383.23WTI crude down 0.4% to $73.45Bitcoin flat at $104,475There was some cautious optimism earlier on in the day but that has since been tempered with after Iran's supreme leader Khamenei came out with a statement to fight back hard, his first since Friday last week.
In FX, there wasn't too much action with the dollar keeping just lightly lower on the session.
The tone as we look to the session ahead is one with caution but I would argue it's more so cautious optimism. Markets are wanting to move on from the geopolitical tensions but headline risks remain paramount and that is stopping any real positive turn for the time being.
Coming up, we do have US weekly jobless claims and the FOMC meeting decision on the agenda. All that before a US holiday tomorrow.
This article was written by Justin Low at www.forexlive.com. Read More Details
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