 Trading in the forex markets remains subdued today as investors take a breather from a week of high volatility. Most major currency pairs and crosses are trading within yesterday's ranges, with little reaction to US PCE inflation data. Annual Core PCE rate was surprisingly unchanged in June, but the slight monthly increase still indicates that disinflation is in progress, keeping investors relatively calm. In other markets, US futures are trading sharply higher, suggesting that tech shares, in particular, are set to recover some of this week's steep losses. 10-year Treasury yield is slightly down, continuing its recent range-bound pattern. Gold is attempting to find support at the 55 D EMA to maintain its near-term bullish outlook, while WTI crude oil is struggling to reclaim 80 handle despite recovery yesterday... |
