Daily Fundamental Dose: 24-June-2014
Even with the improved Flash Manufacturing PMI and Existing Home Sales Numbers, US Dollar could close the yesterday on the positive side. Weaker PMI releases from EU nations dragged the regional currency, EURO, for the first day of the week while Flash reading of China's HSBC Manufacturing PMI provided ample strength to the commodity currency.
Today, the market is likely to be stuffed with more volatile sessions as the German Ifo Business Confidence, US CB Consumer Consumer Confidence and New Home Sales together with UK Inflation report hearings can become fuel for the market.
Should the releases from US meet expectations, USD can reverse to its strength. However, Geo-political tentions in Iraq are likely to continue fueling the safe haven assets.