Today, traders also focused on the Wholesale Inventories report for May. The report showed that Wholesale Inventories remained unchanged, compared to analyst consensus of -0.1%.
U.S. Dollar Index tested session lows at 102.15 after the release of the Consumer Inflation Expectations report. Traders bet that Fed could be less hawkish as inflation expectations are moving lower. Treasury yields have also pulled back towards session lows, putting additional pressure on the American currency.
SP500 remained stuck near the 4400 level while NASDAQ settled near 15,000. Interestingly, major indices did not show a material reaction to the report. It looks that profit-taking near yearly highs remains an important catalyst for the stock market.
Gold settled near the $1925 level as traders focused on weaker dollar and falling Treasury yields. From the big picture point of view, gold remains stuck in the range between the support at $1910 and the resistance at $1940.
For a look at all of today’s economic events, check out our economic calendar.
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