FXStreet reports that Lee Sue Ann, an economist at UOB Group, offers her view on the upcoming FOMC meeting (Wednesday).“The “talk about the talk” about QE tapering and updated dot plot during the June FOMC could set in motion for taper discussion.”“We expect the Fed to keep its current policy stance unchanged in the July FOMC and the Jackson Hole Symposium (26 August) could see the first hint of taper and we expect first taper to be done in December 2021.”
eFXdata reports that Citi's FX technicals flag their bias for EUR/USD upside:"i). the divergence between real yields and the USD-index, ii). triple negative momentum divergence on the USD-index ahead of pivotal resistance, and iii). momentum flagging ahead of good supports on EURUSD".
Conference Board announced on Tuesday its U.S. consumer confidence edged up 0.2
points to 129.1 in July from 128.9 in June. This was the highest reading since
had expected consumer confidence to ease to 123.9. June’s
consumer confidence reading was revised up from the originally estimated 127.3.The
survey showed that the present situation index rose from 159.6 in June to 160.3
this month. Meanwhile, the expectations index edged down from 108.5 last