The USD is higher vs the major currencies once again led by the NZD (+0.49%), EUR (+0.30%), GBP (0.30%) and CHF (+0.28%) .
In the video above, I outline the technicals that kickstart the North American trading session for the 3 major currency pairs including the EURUSD, USDJPY and GBPUSD
I take a look at the bias, the risks and the targets right now so you can have the roadmap for your trading. In the European session, German business sentiment improved for a second straight month in June, with the Ifo business climate index rising to 85.6 from 85.0, suggesting confidence is gradually recovering as energy concerns ease. However, sentiment remains historically subdued and stagflation risks persist, particularly if geopolitical tensions and energy prices flare up again.
From central banks, BOJ Governor Kazuo Ueda reiterated that further rate hikes remain likely as underlying inflation moves toward the 2% target. He acknowledged Japan’s recovery remains moderate and uneven but said accommodative financial conditions should continue to support growth. The comments were largely in line with recent BOJ messaging and did little to change expectations for gradual policy normalization.