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Economic data coming up in the European session

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UK monthly GDP data on the agenda for today

Dollar

The market is keeping quieter to start the day after a bit of a two-pronged reaction to the US CPI data yesterday. The dollar and yields nudged higher on the release before all of that was quickly faded as yields sank to its lowest level since early March.

Things are keeping steadier today but with the break lower in yields, it is likely to keep equities (tech in particular) buoyed amid positive data while dollar sentiment may be up for question in the short-term if the bid in bonds continue in the weeks ahead.

0600 GMT – Germany May wholesale price index

Prior release can be found here. Given higher input cost inflation, wholesale prices should see upwards pressure and in turn translate to consumer inflation.

0600 GMT – UK April monthly GDP data

Prior release can be found here. Given the beginning stages of the reopening, April economic activity should see a modest jump and that should continue further in the months ahead as well as restrictions are lifted across the UK.

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.



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