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America’s Roundup: Dollar broadly gains ahead of U.S. inflation data, Wall Street ends mixed,Gold falls, Oil rises as Iranian supply not seen returning soon-June 9th,2021

Market Roundup

• US Imports 273.89B, 274.48B previous

• US Exports 204.99B, 200.03B previous

• US Apr Trade Balance  -68.90B,-69.00B, -74.40B previous

•Canada Apr Exports  50.21B,50.62B previous

• Canada Apr Trade Balance  -68.90B,-0.70B forecast, -1.14B previous

• Canada  Apr Imports 49.61B, 51.76B previous

• US Redbook (YoY) 14.5%,13.0% previous

•  US Apr JOLTs Job Openings 9.286M, 8.300M forecast, 8.123M previous

Looking Ahead - Economic events and other releases (GMT)

 •23:50  Japan May M3 Money Supply  1,953.6T previous

• 23:50  Japan M2 Money Stock (YoY) 9.2% previous

•01:00 Australia June Westpac Consumer Sentiment  -4.8% previous

•01:00 Australia ANZ Business Confidence 1.8 previous

•01:30   China May CPI (YoY)  1.6% forecast, -0.9% previous

•01:30   China May PPI (YoY)  8.5%,6.8% previous

Looking Ahead - Economic data ahead (GMT)

•No significant events

Currency Summaries

EUR/USD: The euro edged lower against dollar on Tuesday after data showed investor sentiment in Germany fell in June. The economic research institute ZEW said its survey on the economic sentiment of investors had fallen from 84.4 points in the previous month to 79.8 points. A poll had forecast an increase to 86, a separate ZEW indicator of current conditions rose to -9.1 points from -40.1 in the previous month, compared to a consensus forecast of -27.8 points. Immediate resistance can be seen at 1.1212 (23.6%fib), an upside break can trigger rise towards 1.1258 (June 1st high).On the downside, immediate support is seen at 1.2172 (5 DMA), a break below could take the pair towards 1.2148(38.2%fib).

GBP/USD: The British pound fell against a much stronger dollar on Tuesday with no major economic calendar data released, leaving investors focus on the UK government's imminent decision to fully reopen the economy. The British pound is the second-best G10 currency against the dollar this year, behind only the commodity-powered Canadian dollar, and has been fueled by betting on a faster reopening of the UK economy thanks to its vaccination program.By 11:30 GMT, sterling was 0.3% lower to the dollar at $1.4149.  Immediate resistance can be seen at 1.4148(Daily high), an upside break can trigger rise towards 1.4250(23.6%fib).On the downside, immediate support is seen at 1.4128 (38.2%fib), a break below could take the pair towards 1.4086(June 4th low).

 USD/CAD The loonie fell against its much stronger US counterpart on Tuesday but remained within its most recent trading range as data showed a surprising Canadian trade surplus and investors waited for a Bank of Canada interest rate decision. The price of oil , one of Canada's major exports, settled 1.2% higher at $70.05 a barrel. The loonie was trading 0.3% lower at 1.2115 a dollar, or 82.54 cents, after falling from a six-year high of 1.2007 last week, its weakest since mid-February, May 1.2144. Immediate resistance can be seen at 1.2144 (23.6%fin), an upside break can trigger rise towards 1.2238 (50%fib).On the downside, immediate support is seen at 1.2091 (5 DMA), a break below could take the pair towards 1.2040 (23.6%fib).

USD/JPY: The dollar strengthened against the Japanese yen on Tuesday but was subdued as investors continue to gauge inflationary pressures ahead of a policy decision from the U.S. Federal Reserve. Investors are waiting for the CPI report to be released later this week to assess the Fed’s next move before the policy decision is announced next week. It is now expected that the Fed will propose an asset reduction plan at the end of 2021, and the actual process will begin in early 2022.At (GMT 12:10), the dollar was last up  0.16 % at 109.40 yen. Strong resistance can be seen at 109.55(38.2%fib), an upside break can trigger rise towards 110.00 (Psychological level).On the downside, immediate support is seen at 109.q3 (50%fib), a break below could take the pair towards 108.67  (61.8%fib).

Equities Recap

European stocks hit new highs on Tuesday, lifted by travel and real estate shares, but weak German industrial output data and doubts over Britain lifting restrictions later this month capped gains.

UK's benchmark FTSE 100 closed up by 0.43 percent, Germany's Dax ended down  by 0.10 percent, France’s CAC finished the day up by 0.32 percent.

Wall Street indices were flat on Tuesday as investors stayed on the sidelines ahead of key inflation data this week while Clover Health led a rally in popular social media stocks.

Dow Jones closed down by  0.20% percent, S&P 500 closed down by 0.05% percent, Nasdaq settled up by 0.34%  percent.

Treasuries Recap

Traders on Tuesday sent long-term government bond yields to their lowest level in more than a month after a data showed small business owners and narrowed the spread on part of the yield curve that was being watched closely.

The benchmark 10-year yield was down 3.9 basis points at 1.5314% in afternoon trading. It reached as low as1.513%, its lowest since May 7.

Commodities Recap

Gold fell Tuesday as a stronger dollar offset a decline in US Treasury bond yields as investors looked forward to US dollar inflation data that could inluence Federal Reserve's time line to taper.

Spot gold was down 0.4% to $1,892.33 per ounce by 1:42 p.m. EDT (1742 GMT) while U.S. gold futures settled down 0.2% at $1,894.40.

Oil prices rose Tuesday, reaching its highest level in more than two years after the top US diplomat said that even if the United States struck a nuclear deal with Iran, hundreds of US sanctions would be imposed on Tehran.

Brent crude rose 73 cents, or 1%, to close at $72.22 a barrel, the highest it has settled since May 2019. U.S. West Texas Intermediate oil rose 82 cents, or 1.2%, to settle at $70.05 a barrel,

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