Page 19 - Christopher Vecchio News Today

Gold prices are moving up for one reason: a weaker US Dollar.

The sixth month of the year is usually good for risk, and weaker for the US Dollar.

The Bank of Canada made a hawkish shift with its June rate decision, which sets up the Canadian Dollar on more favorable ground in the near-term.

Copper prices have continued their rebound from their May lows.

The US Dollar (via the DXY Index) has lost ground for two consecutive weeks.

No surprises from the May FOMC minutes – including no mentions of ‘stagflation’ or ‘recession’ – come as a welcomed development.

The ECB has come to terms with the fact that it will need to raise interest rates this summer.

Crude oil prices continue to trade back and forth within their two-month range.

The US Dollar (via the DXY Index) is slowly erasing losses from earlier in the week.

Bank of England rate hike odds stagnate while the market has dragged forward expectations for the European Central Bank.