Risk aversion remains in markets today driven by growing recession worries. Equities remain flat ahead of data releases today. The euro slid through technical support and eyes parity to the dollar.
July 6, 2022
EUR/USD 1.0189 GBP/USD 1.1924 USD/CAD 1.3021 AUD/USD 0.6814 USD/JPY 135.15 USD/CNH 6.7095 USD/ILS 3.5020 USD/MXN 20.6673 USD/CHF 0.9705 USD/INR 79.30 USD/BRL 5.4092 USD/SGD 1.4039 USD/DKK 7.3015 USD/SEK 10.5425 USD/NOK 10.0860
Dollar holding strong at multi-decade highs as concerns of global growth permeate the market. June’s FOMC meeting minutes are released today along with PMI data out later this morning. MBA Mortgage Applications came in at -5.4% compared to +0.7% for the month prior.GBPUK PM Johnson’s government saw several resignations as officials cited a lack of confidence in his leadership. Others have called for Johnson himself to step down too. The pound remains under pressure at the lowest levels since May 2020.EURThe euro continues to slide to fresh lows dipping below 1.02 on worries about the impact of the Ukraine war and ECB policy.CAD
Canadian dollar steadied and is little changed against the greenback following a day of losses yesterday. Home sale prices drop for a fourth straight month as borrowing costs increase.ASIA/PACIFIC
USD/JPY slips as treasury yields ease. A BoJ survey shows that 90% of consumers feel prices are prices rare higher compared to a year ago as yen weakness and the war in Ukraine send energy and food prices higher.
An uptick in COVID cases in China has investors on edge as mass testing ramps up once again.
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