UK monthly GDP on the agenda in the session ahead

Major currencies are lightly changed on the day and are expected to keep that way until we get to the main event later. The kiwi is marginally higher, bouncing back a little after yesterday’s fall following a more dovish RBNZ. NZD/USD dropped to test its key daily moving averages and is holding on for now, seen up 0.2% today to 0.6095 now.

Besides that, other major currencies are not doing a whole lot as narrow ranges are prevailing.

And there won’t be much on the agenda in Europe to shake things up. The pound might see some light focus with the UK May monthly GDP figures on the cards. But overall, broader markets will be looking to the US CPI report later in the day. That will make for more of a placeholder session in European morning trade.

0600 GMT – Germany June final CPI figures0600 GMT – UK May monthly GDP figures

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

2 – England has now reached the finals of two major tournaments under Gareth Southgate. This is his fourth major tournament with the national team. Prior to his tenure, England only reached the final in one of their last 23 major tournaments – that being the 1966 World Cup. Defining.

This article was written by Justin Low at www.forexlive.com.