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Not much on the agenda for European morning trade

The Aussie is the day’s main mover, rising after May’s higher inflation figures. This reignites talk of an RBA rate cut heading into August, with the second quarter CPI report at the end of July an important event to watch. Other than that, major currencies were mostly little changed, with the dollar remaining more stable over the week.

It is worth noting that USD/JPY continues to hover just below the 160.00 threshold while EUR/USD remains near 1.0700.

Looking at the upcoming session, there won’t be much that can shake up the mood of the market as a whole. We will have German consumer confidence GfK for July and French consumer confidence for June. Both are not real market players, so we might find ourselves in a calmer situation.

That said, just be wary that end-of-month and end-of-quarter flows could have a bigger impact in the sessions to come.

06:00 GMT – Germany July GfK consumer sentiment
06:45 GMT – French consumer confidence in June
08:00 GMT – Switzerland June Investor sentiment UBS
10:00 GMT – British retailer CBI reported June sales
11:00 GMT – US MBA Mortgage Applications June 21

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

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