German retail sales, French inflation on the agenda today

Major currencies are seeing slight changes to start the day, with the dollar remaining on a stronger footing ahead of month-end trade. I would reserve judgment on any noticeable trend movement until after today, but since it’s a Friday tomorrow, there might be little appetite to go hunting for anything substantial with the weekend approaching at big steps. Remember, it’s also a long weekend in the United States with the upcoming 4th of July holiday.

Stocks again saw a push and pull on Wall Street before closing little changed, with only the Dow slightly higher. US futures are pointing down on the day, creating a more cautious mood at the moment.

Coming back to FX, the Franc continues to outperform as the SNB policy pivot and EUR/CHF breakout is arguably one of the main technical points to note this week.

Going forward, there will be a few releases to get things done in Europe, but none are expected to result in significant action in the markets.

0600 GMT – UK June Nationwide house prices
06:00 GMT – Final UK Q1 GDP figures
0600 GMT – Germany May Import Prices
06:00 GMT – Germany retail sales data for May
06:45 GMT – Preliminary CPI France June figures
0700 GMT – Switzerland June KOF leading indicator index
0755 GMT – Germany Change in unemployment rate in June
0900 GMT – Eurozone unemployment rate in May

That’s all for the upcoming session. I wish you all the best days ahead and good luck with your trading! Stay safe there.


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