The general index of the dollar recorded a rise for the second session in a row this morning, Wednesday, 29th of June, in line with the opening of the European markets, where the index, which measures the performance of the dollar against a basket of currencies, is trading at 104.67 levels, up by 0.20%, ignoring the decline in the US Treasury bond yields.

The yield on US Treasury bonds for ten years is trading down 2% at 3.143% for the second consecutive session. Today, markets are awaiting the European Central Bank Forum on Portugal’s central banks in a panel discussion titled Policy Board, in which US Federal Reserve President Jerome Powell, European Central Bank President Christine Lagarde and Bank of England Governor Philip Bailey will speak in the American session.

Since the beginning of the week, the markets have been absent from data and statements that affect market movements, and accordingly, central bank heads’ statements today are expected to support market movements, especially as the markets are awaiting Lagarde’s statements to give an overview of the extent of the movement and the size of the interest rate increase that the Central Bank of Europe will make in July for the first time since More than 10 years.

The statements of Jerome Powell and Bailey will also attract the attention of investors regarding the expected peak of inflation and the continuation of monetary policy tightening at the current pace. Eurozone markets, in turn, are awaiting the CPI figures, which are concerned with measuring inflation in Germany during the European session, where monthly inflation is expected to decline to 0.4% in May and rise to 8.3% on an annual basis.
The euro is trading at 1.0510 levels against the US dollar, on a decline this morning, affected by the US dollar’s gains.

The Australian dollar is the top losing commodity currency and is trading down more than 25 pips at 0.6888 levels against the US dollar, despite the rise in retail sales better than expectations in May, with a growth of 0.9%.