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Forex Today: Market attention shifts to mid-tier US data, Canada inflation figures

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Here is what you need to know on Tuesday, June 25: Following a bearish start to the week, the US Dollar (USD) holds its ground early Tuesday as investors await housing, regional manufacturing and consumer confidence data.

Here is what you need to know on Tuesday, June 25: Following a bearish start to the week, the US Dollar holds its ground early Tuesday as investors await housing, regional manufacturing and consumer confidence data. In the early American session, May Consumer Price Index data from Canada will also be watched closely by market participants. The positive shift seen in risk mood made it difficult for the USD to find demand in the first half of the day on Monday.

Japan Chief Cabinet Secretary Yoshimasa Hayashi repeated that excessive foreign exchange volatility is undesirable, adding that they will closely monitor the FX moves and will take necessary steps if needed. Early Tuesday, USD/JPY trades in the red below 159.50. EUR/USD took advantage of the USD weakness on Monday and recovered toward 1.0750. The pair stays relatively quiet and fluctuates in a tight channel below this level in the European morning on Tuesday.

 

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