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US stock indices rise initially but trade mixed after Fed governor suggests rate cuts
US stock indices began the day with a 0.5% rise but quickly became volatile. This was the second *Triple Witching Day* of the year, with $6.5 billion in options trades expiring, leading to increased market fluctuations.
Federal Reserve Governor Christopher Waller’s statement hinted at possible interest rate cuts in July. At the time of this report, the Dow was up 0.26%, the NASDAQ had a slight 0.1% loss, and the S&P 500 was unchanged.
The euro strengthens and approaches highs, while the US dollar weakens due to geopolitical concerns.
The euro has risen by half a cent today, reaching its highest level since Monday. This increase has nearly balanced its position for the week.
Earlier, the US dollar was highly sought after as a safe-haven asset due to concerns about conflicts in the Middle East. However, it is now losing some of those gains, helping the euro.
Inverted Head And Shoulders Pattern
On the chart, the euro has formed an inverted head-and-shoulders pattern, which suggests it may retest recent highs around 1.1615. This movement has strengthened the euro compared to its position at the week’s start when risk sentiment weakened, causing safe assets like the dollar to gain favor. The inverted head-and-shoulders pattern shouldn’t be ignored because it often signals renewed strength. While it may not always follow the textbook example, our current scenario, along with the momentum building towards 1.1615, indicates that market participants are beginning to prepare for further gains. As the dollar lost some of its recent strength due to safe-haven demand, it wasn’t just because geopolitical fears have eased. The rates market has also played a role, with yields softening in some areas of the Treasury curve. This alleviates pressure on dollar-based assets, which struggled to attract investment without the strong yields seen earlier this week. If nothing new introduces uncertainty into the markets, this dollar pullback could provide room for the euro to stabilize, especially if risk appetite stays strong. Upcoming economic reports next week could shift sentiment again, but right now, technical indicators do not oppose euro strength.Monitoring Market Positioning
We believe it is crucial to closely track market positioning. Open interest has increased near key resistance levels, often signaling that short-term traders are trying to capture breakout momentum. However, spreads have narrowed slightly, indicating some caution. This type of divergence can create a push-and-pull between traders confident in their positions and those hedging against sudden market shifts due to news. As traders, it’s wise to not only focus on key levels but also to closely monitor execution. Moves toward 1.1615 are likely to attract more activity. If that level starts acting more like a magnet than a ceiling, strategies favoring a continuous trend may perform better in the short term. We also note that speculative flows often thin out toward the weekend, leading to reduced market depth and sharp moves on low volume. This can accentuate what might seem like routine price adjustments. Stop placements are more crucial in these conditions, serving as strategic tools rather than blunt instruments. In summary, recent gains are not occurring in isolation. They follow earlier compression, and with price ranges widening once again, it’s important to act purposefully rather than react to noise. Create your live VT Markets account and start trading now.Rupee steadies after hitting a three-month low as crude oil prices fall and equities rise
The Indian Rupee (INR) ended its three-day decline against the US Dollar (USD) on Friday, showing a small recovery after reaching a three-month low. This rise was helped by a weaker US Dollar and lower Crude Oil prices as traders reacted to US President Trump’s choice to postpone military action in the Israel–Iran conflict.
During American trading hours, the USD/INR pair decreased to about 86.60. Although it eased from a multi-month high, the pair is still up over 0.50% for the week due to high Crude Oil prices from the ongoing conflict.
Domestic Economic Factors
Several domestic factors also aided the Rupee’s recovery. Strong equity markets and stable global Crude Oil prices improved market sentiment. India’s GDP growth increased to 7.4% in Q4 FY25, inflation stayed below 4% for four consecutive months, and rising GST revenues reflected strong demand and stable formal-sector activity. However, the core sector’s growth fell to 0.7% in May from 6.9% a year earlier, indicating weak performance in heavy industries. On the bright side, India’s stock indices saw a rebound, with the BSE Sensex and NSE Nifty50 both rising by 1.29%, which helped boost sentiment. Crude prices dropped over 2% on Friday but maintained a weekly gain of about 4%, remaining sensitive to developments in the region. The Reserve Bank of India (RBI) cut the repo rate by 50 basis points to 5.5%, keeping its supportive stance. The Rupee also benefited from revised inflation forecasts, predicting CPI at 3.7% for FY26. Retail inflation decreased to a 75-month low of 2.82% in May, thanks to a dip in food inflation below 1%, supporting a more relaxed policy approach. As the Iran–Israel war continued, geopolitical tensions remained high, with US and Israeli leaders considering military actions, while Iranian officials threatened to close the Strait of Hormuz if the conflict escalated. The US Dollar Index fell below 99.00 due to reassessment of risk.Geopolitical and Market Trends
Manufacturing continues to show signs of weakness, as indicated by the Philadelphia Fed Manufacturing Index, which stayed at -4.0 in June. Traders are now looking forward to upcoming PMI data from India and the US, which could reveal potential changes in economic performance. On the technical side, USD/INR showed signs of a possible pullback after hitting resistance at 87.00, despite earlier bullish indications. The Relative Strength Index cooled a bit but suggested buyers remain in control above 85.80-86.00 unless new pressures arise. The Composite PMI offers insight into India’s business activity, with levels over 50 signaling expansion and a positive outlook for the INR. The next release is set for June 23, 2025. The Rupee found support after a turbulent period, aided by calmer global markets and a temporary dip in energy prices. The Dollar’s weakness on Friday, due to delays in military strategies from Washington, provided immediate relief to the pair, which narrowed from earlier highs but still closed the week positively for the greenback. This situation means buyers are still close to resistance, more so than what fundamental changes might suggest. Home equity markets gained momentum, boosting overall risk sentiment. Coupled with stable oil prices and strong tax collections, there is growing support for domestic demand. These elements create a perception of steady economic activity, particularly in the formal sector. Adding the sub-4% inflation rate and improved GDP figures paints a positive picture. However, the fall in core sector growth—from nearly 7% to below 1%—is concerning for those monitoring industrial output. While broader markets have shrugged off the negativity for now, the weak momentum in capital-intensive sectors can’t be ignored. This suggests risks for industrial production, which could affect sentiment over time. Additionally, oil markets remain sensitive. Though a 2% drop on Friday seems beneficial, the weekly gain stays around 4%. So, while lower energy prices gave temporary relief to the Rupee, the overall situation remains volatile—any escalation in Middle East tensions could reverse these gains. Continued focus on energy prices is critical. Supportive policy from the central bank, with a rate cut of half a percentage point, reassures confidence in managing borrowing costs. This aligns with retail inflation hitting a 75-month low, mainly due to falling food prices. If this trend persists, the current accommodative approach is likely to continue into the next quarter, especially with CPI expected to remain around 3.7%. One key point to watch is whether this monetary and inflation scenario provides strong enough support for the currency. Currently, it offers medium-term backing but won’t fully protect it from sharp geopolitical shifts or Fed-related impacts. Notably, the decline in American manufacturing, as shown in June’s Fed manufacturing index, hints at some resilience in the INR against the USD, at least in the short term. Regarding price movements—important for trade management—the USD/INR pair pulled back after reaching solid resistance at 87.00. Though the RSI has cooled, it still suggests buyers are present above the 85.80–86.00 range. Unless new upward momentum develops, we expect traders to revisit these support levels in the days ahead. Mark your calendars for the June PMIs—both from India and the US—especially if you’re interested in signs of diverging business activity. With Indian composite PMIs last reported above 50, we’re on the lookout for confirmation. Any surprising data, whether higher or lower, could significantly impact short-term positioning. Create your live VT Markets account and start trading now.BofA warns that EUR/USD could experience volatility and a potential pullback to 1.1200–1.1065 before moving higher.
The EUR/USD pair might be entering a more volatile phase in its rally. Historically, upward trends in the euro can become choppy and are more likely to experience corrections. Current technical indicators, such as bearish momentum divergence and resistance around 1.16, hint at a possible pullback to 1.1200–1.1065 before continuing an upward trend toward long-term goals of 1.18–1.20.
Typically, EUR/USD rallies begin with sharp, clear movements, but the final phase often sees increased volatility. The 2023 rally in the euro illustrates this pattern. Analysis of the weekly chart shows RSI divergence, suggesting bullish momentum could be weakening. This often leads to corrections or sideways movement within a larger upward trend.
On the daily chart, EUR/USD struggles to maintain levels above 1.16, where selling pressure has built up, reducing short-term upward momentum. Bank of America (BofA) thinks a pullback to 1.1200 or 1.1065 is likely, with 1.1065 being the low from May. Even if prices dip, a higher low than May would support the ongoing bullish trend despite temporary weakness.
BofA holds onto its long-term outlook with a target range of 1.18–1.20, supported by the 200-month simple moving average (SMA). This current phase is seen as a time for technical adjustment, with expectations of reaching the target by early 2026.
What we are witnessing in EUR/USD is typical for those familiar with these cycles. The initial surge was quick and faced little challenge because sentiment shifted sharply, and early participants jumped in. However, that phase is rarely sustainable. As we approach more congested price areas – such as 1.16 – the rally tends to slow down. It’s like climbing a hill that gets steeper. There are fewer buyers at the top and more sellers looking to sell, causing prices to bump against resistance.
When we discuss momentum divergence, particularly with indicators like the RSI, we notice that the engine is losing power. Prices might be trying to push higher, but the underlying strength isn’t there to support it. On the weekly charts, this divergence is significant and tends to lead to pullbacks or sideways movement. While it doesn’t undermine the overall trend if longer-term supports hold, it alters market behavior.
Below current levels, the 1.1200 area has served as a good support level in the past, and 1.1065 is important since it marks the May low. If prices drop to these zones, they should be monitored closely as indicators of the trend’s health, not as signs of reversal. It makes sense to strategically position around these levels since the overall structure remains intact. Traders might scale back on strength near the upper range and invest more aggressively closer to those support levels.
Anticipating a pullback before further gains is not just a guess; it’s based on historical cycles once momentum slows down. Shifting to a choppier phase often leads to more false starts and sudden reversals. For those managing delta risk, this means being careful about how exposure is managed. Position sizes may need to adjust to account for the increased noise in this trend phase. Holding too much direction can lead to being stopped out at unfortunate times.
The 200-month simple moving average continues to support the medium-term outlook, which leans towards a stronger euro over the next couple of years. However, in the shorter term, prices may fluctuate more. Those dealing in options may find premiums more appealing in the near term, especially if implied volatility lags behind realized movements.
Looking at this structure, a higher low above the May low would strengthen the uptrend. It’s during moments like these—where the rally falters but doesn’t collapse—that confidence begins to build. Watch for patterns of reaccumulation during the pullback. A gradual adjustment phase before the next upward movement fits historical trends and keeps long-term targets attainable.
All this indicates that being mindful of short-term positioning and stop placements is necessary. Recognizing where trailing flows might concentrate—especially near prior highs—can give insight into where short squeezes and exhaustion gaps could emerge. Planning for various scenarios, rather than reacting emotionally to fluctuations, prepares traders best. Timing is crucial in these transitional zones.
Gold pulls back to around $3,355 as the USD strengthens
**Gold Market Update**
Gold (XAU/USD) has dropped and is currently trading around $3,368, down from Monday’s high of $3,452. This decline is influenced by a stronger US Dollar and rising Treasury yields, which have reduced gold’s short-term attractiveness.
A recent survey by the World Gold Council found increasing interest in gold accumulation. Among 73 participating central banks, 95% expect global gold reserves to grow over the next year, with more than 40% planning to increase their holdings.
Major central banks have provided cautious updates, hinting at extended interest rates. The near-term decline in gold prices is affected by lowered expectations for rate cuts from the Fed, paired with a stronger US Dollar.
Concerns about Iran’s enriched uranium stockpile have raised global alarms, leading to heightened geopolitical tensions. This situation could disrupt the Strait of Hormuz, impacting global oil shipments and contributing to inflation pressures.
From a technical perspective, gold faces resistance levels at $3,371 and $3,400, while support is found at $3,350 and $3,318. These movements reflect a broader Fibonacci retracement, with a declining RSI indicating less buying interest.
**Impact of Geopolitical and Economic Factors**
Gold is a popular safe-haven asset, particularly during geopolitical risks or fears of recession. Its performance typically moves in the opposite direction of the US Dollar and interest rates.
Given the recent drop in gold from Monday’s peak to around $3,368, traders should take a moment to analyze the shifting sentiment. As Treasury yields remain high and the Dollar continues to strengthen, it’s becoming challenging for gold to gain upward traction. This rise in the Dollar, largely driven by reduced expectations for rate cuts from the Federal Reserve, is putting pressure on gold prices. Any pricing models still assuming rate cuts soon may need reassessment.
Top policymakers have indicated that borrowing costs will likely stay high for a while. This is less about speculating where rates might go and more about interpreting their statements to ensure inflation remains below target. Consequently, speculative positions in interest-sensitive assets like gold might face more short-term risks than previously thought.
However, long-term buying patterns tell a different story. The World Gold Council survey shows strong buying intentions among central banks. A full 95% expect global reserves to rise, and nearly half plan to increase their own holdings. This genuine demand may provide a cushion for gold prices in the coming weeks, even if upward movement is paused. For those tracking capital flows or futures market activity, this institutional behavior could act as a gradual support.
Geopolitical instability remains a concern. Iran’s advancements in nuclear capabilities, especially the increase in enriched uranium, have stirred global market worries. Possible disruptions in the Strait of Hormuz add to the concern, as any issues with oil shipments would have immediate effects, including sharp moves in oil prices and other inflation-sensitive assets. These are real threats with significant implications for macro hedging strategies, particularly concerning inflation protection.
From a technical angle, resistance sits between $3,371 and $3,400, while support aligns around $3,350 and extends to $3,318. These levels correspond with Fibonacci retracement patterns from recent highs, giving them further significance. The RSI indicates a decreasing willingness to push prices higher, suggesting caution for new long positions in the short term.
For trading strategies, it may be wise to fade rallies near the resistance area until yields stabilize or the Dollar eases. While the ‘safe-haven’ appeal of gold holds during geopolitical tensions, interest rate movements and the US Dollar are the key drivers right now. A flexible approach with close monitoring of terminal rate pricing might provide better insights than reacting to headlines alone.
We should also keep an eye on real yields, especially at the longer end of the curve. As long as they remain positive and well-supported, it limits enthusiasm for price gains. This doesn’t imply an imminent reversal, but it makes aggressive long positions harder to justify unless new catalysts arise, such as increased conflict or a significant dovish shift. Otherwise, rallies may be brief, and trades based on reactions may perform better than broader trend-following strategies in the near term.
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A US official warns that Israel may soon run out of interceptor missiles due to escalating conflict with Iran.
Military Capability and Long-term Strategy
Israel may run low on interceptor missiles while in conflict with Iran. Unlike Israel, which has effective air defenses like the Iron Dome, Iran does not have similar technology. Countries such as the UK, France, and Germany are working toward a diplomatic solution. Israeli Prime Minister Netanyahu is resolute in stopping Iran from becoming a nuclear power, but it’s unclear if Israel can curb uranium enrichment without military help from the US. Some reports indicate that completely neutralizing Iran’s nuclear facilities might require more than just air strikes, suggesting ground troops could be necessary. This could escalate tensions and might draw the US in further. Former US President Trump is against sending troops. Meanwhile, Israel is likely to continue its military efforts, raising concerns about Iran’s ability to launch enough missiles to stress Israel’s defenses. European discussions with Iran are nearing a conclusion, but the final outcome remains uncertain. In financial markets, the S&P index is stable, the NASDAQ is down 51 points (-0.26%), and the Dow is up 0.27%. The price of crude oil has slightly decreased, with July contracts down 0.19% at $75 and August contracts down 0.3% at $73.20. This situation raises questions about Israel’s short-term military readiness and long-term plans. While Israel’s interceptor systems are well-regarded, they are not infinite. If missile attacks from Iran become more frequent or last longer, the impact on Israel’s missile stockpile could be significant. We need to think about not just how many missiles are available but also how long it takes to replenish them and the logistics involved. These issues cannot be fixed quickly. This scenario points to possible changes in the defense sector. Demand for missile system components might alter purchasing patterns, which would affect aerospace and military technology stocks. Defense contractors focused on air interception technologies may attract more attention if pressures increase over time. Prices in these areas may rise in anticipation of potential logistics issues, even before the media reports them. Diplomatic talks in Europe are crucial and time-sensitive. Traders should remember that outcomes here will directly affect oil supply expectations. Although crude prices have dipped, the market remains fragile. If the flow of oil from the region is disrupted, prices could fluctuate significantly. Therefore, it may be appropriate to hedge exposure in crude derivatives and adopt cautious positions in oil-related stocks. If uncertainty continues into next week, option premiums might increase.Political Implications and Market Reactions
The political landscape in Washington influences military strategies beyond troop levels. Messages from the previous administration indicate that expanding military involvement is a sensitive subject. This cautious approach means that controlling nuclear facilities will be challenging both logistically and politically. Such complexities can increase risk, affecting defense ETFs, currency risks, and long-term credit related to military funding. So far, stock market responses have been mild: the NASDAQ has seen a slight decline, while the Dow has increased a bit. While this might seem unremarkable, we view it as temporary. Traders may not fully acknowledge the risks in the region yet. Stocks related to semiconductors or electrical components for defense purposes might gain more interest if logistics become challenging. Algorithms usually detect these trends before human sentiment does, making it essential to keep a close eye on sector-linked derivative spreads. For those trading short-dated options on indices, monitoring implied volatility is crucial, especially for tech-heavy components. Currently, short gamma looks relatively safe, but this depends on the lack of sudden news changes. The key question for us is about maintaining discipline in positions. If exposure is widespread, particularly in leveraged positions related to defense or regional energy, there won’t be time to adjust after a sudden event. Planning in oil futures or aerospace-related swaps may not guarantee profits, but it can protect our margins. Safeguarding capital as we approach potential military or diplomatic shifts should be our main goal. Key levels in crude oil—especially around the mid-$70s—may not support prices but act like placeholders. If diplomatic efforts stall or supply disruptions threaten, these levels could be quickly challenged. The sensitivity of August contracts, more pronounced than in July, may indicate forward thinking about possible bottlenecks or insurance costs on tanker routes. Traders engaged in calendar spreads or time-based option structures should pay more attention to these differences. From our perspective, macro events continue to impact specific sectors’ volatility. Lack of direction in the S&P may hide underlying issues in portfolio allocations. Various sectors are no longer moving together, introducing both challenges and opportunities when paired correctly. Rotation strategies with clear exit triggers could provide protection and potential gains if tensions rise as the month ends. Risk managers will recognize the need for clarity over complacency. Current data does not support a relaxed approach. Create your live VT Markets account and start trading now.Euro strengthens slightly as US dollar declines amid calming geopolitical signals
The Euro saw a small increase against the US Dollar, hovering around 1.1510 as the Dollar weakened. US President Trump’s cautious approach to the Israel-Iran conflict eased immediate military worries, slightly boosting risk appetite.
The US Dollar Index dropped below 99.00, trading at about 98.75 amid concerns over US involvement in tensions in the Middle East. Additionally, the Philadelphia Fed Manufacturing Index remained unchanged at -4.0, indicating weak manufacturing activity in the region.
Eurozone Inflation Concerns
Global markets, affected by the Middle East conflict, experienced rising crude oil prices, which raised inflation worries in the Eurozone. Eurozone inflation decreased to 1.9% in May, down from 2.2% in April, which complicates the European Central Bank’s (ECB) plans as it nears the end of its easing cycle. The ECB recently lowered interest rates, signaling it may provide further support unless external issues arise. In the US, the Federal Reserve kept interest rates steady at 4.25%–4.50%, considering ongoing inflation risks and economic momentum. In 2022, the Euro accounted for 31% of all forex transactions, with EUR/USD being the most traded pair. The ECB focuses on price stability and influences the Euro’s value through interest rate changes. Inflation and economic data are crucial in determining the Euro’s strength. The Euro has slightly gained against the Dollar, reaching around 1.1510, primarily due to the Dollar losing value. This shift isn’t due to Europe’s strength, but rather changes in the US after Trump showed restraint regarding the Middle East. By avoiding military escalation, he reduced immediate uncertainty, leading markets to take on slightly more risk. With the Dollar Index now under 99.00, near 98.75, it’s evident that global investors are less eager to hold Dollars in the short term. This cautious sentiment isn’t surprising given ongoing fears about foreign entanglements and their potential impact on the US economy. The Philadelphia Fed’s Manufacturing Index staying at -4.0 reinforces concerns that the US economy isn’t strengthening, indicating a factory sector without clear growth. While not catastrophic, this is enough to dampen enthusiasm.Impact of Commodity Pricing
Crude oil prices have risen, which is expected during periods of instability in the Middle East. This is important for the Eurozone, as rising oil prices can impact inflation metrics throughout the region. In May, inflation metrics dropped to 1.9%, down from 2.2% the month before, creating challenges for the ECB as inflation moves away from their 2% target. The ECB has already made a rate cut, indicating a readiness to intervene when necessary. However, they aren’t expected to act quickly again unless there are significant changes in economic conditions—like external shocks or another drop in price growth. Meanwhile, the Fed kept rates steady, but their language shows they are closely monitoring inflation and overall economic momentum. It’s also important to remember that the Euro plays a major role in global forex markets, making up around 31% of volumes in 2022. The EUR/USD pair continues to dominate trading due to its liquidity and transparency. The ECB’s decisions directly affect this due to their focus on price stability. Changes in inflation, employment rates, and commercial activity can shift expectations around monetary policy, influencing demand for—or aversion to—the Euro. With inflation declining in the Eurozone while stabilizing in the US, expectations around interest rate differentials could start to align again. This may lead to increased activity in carry trades. Some traders might view this as an opportunity for short-term strategies, especially in options trading. However, we should stay alert to developments in energy markets, particularly if oil prices continue to rise, as these costs can quickly affect consumer data. Keeping an eye on spreads will be useful. Monitoring yield movements between German bunds and US Treasuries can indicate shifts in sentiment. If spreads start widening or flattening in favor of the US, it suggests that investors may be altering their views on the region’s economic outlook, eventually impacting options pricing and forward rates. Euro volatility may remain low for now, but complacency could lead to pitfalls, especially if another geopolitical crisis arises. A strategy focused on marginal positioning rather than strong directional bets may be more effective in navigating these times. We shouldn’t take the Fed or ECB’s statements at face value; instead, we need to correlate them with incoming data. It’s essential to calibrate reaction functions and match rate expectations with implied volatility. If these don’t align, there may be a mispricing issue somewhere in the pricing curve. That could be a valuable insight. Create your live VT Markets account and start trading now.Barkin thinks cutting interest rates is too early because of inflation and a stable job market.
Richmond Fed President Thomas Barkin is hesitant to lower interest rates because of ongoing inflation concerns linked to tariffs. While prices are rising above target levels, there’s no immediate need to cut rates due to a strong job market and high consumer spending.
Barkin points out that companies expect prices to rise because of costly imports affecting their inventory. Moreover, some businesses not directly impacted by tariffs are raising prices, citing uncertainty in trade policies.
This uncertainty makes businesses cautious, leading them to delay investments and hiring. Barkin’s stance contrasts with FOMC member Christopher Waller, who is less concerned about inflation due to tariffs.
In an interview, Barkin firmly opposed quick interest rate cuts. His reasoning goes beyond current inflation, which is still above the Fed’s preference, to focus on expectations. If companies think they’ll have to deal with more expensive imports, they will start raising their final prices. This can create upward pressure on inflation even if data has not yet shown it.
Barkin is also mindful that uncertainty, especially regarding tariffs, is causing some firms to raise prices, even if they aren’t directly affected. They’ve noticed that unpredictable policies allow them to increase margins without attracting too much attention. This behavioral shift among businesses is concerning. It suggests that inflation may not respond to rate cuts as we might expect.
The hesitance in business investment and job creation is understandable. Firms are in a state of uncertainty, not pulling back but avoiding commitment. Without clearer trade regulations or broader economic indicators, they are holding off, leading to slower activity, which usually prompts economic stimulus. However, Barkin isn’t convinced the timing for that is right.
In contrast, Waller seems less worried about inflation risks from tariffs. He may believe they are limited or temporary. This difference in opinion is significant and highlights the ongoing debate within the policy-setting group. It shows that future rate decisions may diverge.
So, what comes next? As expectations for prices shift across sectors, we could see more underlying dislocations. Timing becomes trickier when rates lack clarity and inflation remains a pressing concern. It’s wise to be cautious about rate futures, especially when committee members have differing opinions.
We should examine how inflation-linked instruments are performing compared to shorter-term rates. Dislocations may present opportunities or signal when to avoid risky positions. For example, short options might seem appealing initially, but failing to consider the persistent nature of trade-induced inflation could lead to unexpected costs.
It’s essential to look beyond the next policy meeting. Observing how forward rate agreements change as businesses adjust pricing strategies will likely provide better positioning insights. For now, risks are not fading; they are just quieter.
Forecasts expected Eurozone consumer confidence to be -14.5, but it was actually -15.3.
Eurozone consumer confidence dropped to -15.3 in June, missing the expected -14.5 prediction.
This data shows how consumers feel across the Eurozone and gives us clues about the overall economic climate. The lower figure might point to worries or pessimism among consumers.
